Legal Opinion
Peoples National Bank, N.A. v. Banterra Bank
Court of Appeals for the Seventh Circuit
Decided May 20, 2013No. 12-3079PublishedCited by 4 opinions
1Opinion of the Court
ZAGEL, District Judge.
Two banks disagree over creditor priority in connection with a mortgage. Cort and Lisa Jones, the debtors underlying this dispute (“Debtors”), unsurprisingly take no position in this matter.
I. BACKGROUND
On November 1, 2004 Peoples National Bank (“Peoples”) extended Debtors a loan for $214,044.26 (“Peoples Loan 1”). This loan was secured by certain real property in a mortgage dated the same day and recorded on November 5, 2004 (“2004 Mortgage”). In August 2008, Debtors obtained another loan, this time from Banter-ra Bank (“Banterra”). This $296,000 construction loan was…
2Cases cited12 opinions
- Freeland v. Enodis Corp.Court of Appeals for the Seventh Circuit · 2008
- In Re Rivinius, Inc., Debtor. Rivinius, Inc., Plaintiff-Counterdefendant-Appellant v. Cross Manufacturing, Inc., Defendant-Counterplaintiff-AppelleeCourt of Appeals for the Seventh Circuit · 1992
- National Family Insurance Company, a Minnesota Corporation v. Exchange National Bank of Chicago, a National Banking AssociationCourt of Appeals for the Seventh Circuit · 1973
- Smith v. GrubbIllinois Supreme Court · 1949
- United States v. 19.86 Acres of Land in East St. LouisCourt of Appeals for the Seventh Circuit · 1944
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3Cited by4 opinions
- In re CraneCourt of Appeals for the Seventh Circuit · 2013
- Khan v. Ocwen Loan Servicing, LLCDistrict Court, N.D. Illinois · 2021
- Robert Bruegge v. Farmer State Bank of HoffmanCourt of Appeals for the Seventh Circuit · 2013
- Williams v. EcksteinDistrict Court, E.D. Wisconsin · 2023