State Bank v. a Way, Inc.

The instant cause of action was initiated on April 7, 1983, in the circuit court of Iroquois County by the State Bank of Piper City (State Bank) as a lien foreclosure suit under section 9 — 501 et seq. of the Uniform Commercial Code (Ill. Rev. Stat. 1981, ch. 26, par. 9— 501 et seq.). In this suit, State Bank seeks an accounting for grain delivered to defendant A Way, Inc., a grain elevator, by State Bank’s debtor, Bill Brenner. Attached to the complaint are copies of promissory notes executed by Brenner in 1981 in favor of State Bank for various loans and security agreements covering, inter…