Legal Opinion
First Nat. Bank of Cicero v. United States
District Court, N.D. Illinois
Decided June 23, 1987No. 83 C 2459PublishedCited by 5 opinions
1Opinion of the Court
MEMORANDUM AND ORDER
MORAN, District Judge.
Plaintiff First National Bank of Cicero continues its suit to establish bona fide purchaser status in regard to over $2,000,-000 worth of stolen securities against the victims of the theft, despite the complicity of its senior loan officer, William Giova, in at least some parts of the scheme to turn the stolen bonds and stock certificates into collateral for loans. The bank’s persistence, and creativity in asserting theories of recovery, plus the difficulties in finding the right fit between the law of principal and agent, bona fide purchaser…
2Cases cited18 opinions
- American Society of Mechanical Engineers, Inc. v. Hydrolevel Corp.Supreme Court of the United States · 1982
- Dennis and Rose Verhein v. South Bend Lathe, Inc. And Travelers Indemnity Insurance Co.Court of Appeals for the Seventh Circuit · 1979
- Cohen v. Illinois Institute of TechnologyCourt of Appeals for the Seventh Circuit · 1978
- Armstrong v. AshleySupreme Court of the United States · 1907
- Oscar Gruss & Son v. First State Bank of Eldorado and Philip Kane and Ralph W. ChoiserCourt of Appeals for the First Circuit · 1978
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3Cited by5 opinions
- First National Bank of Cicero v. Lewco Securities Corp.Court of Appeals for the First Circuit · 1989
- Waslow v. Grant Thornton L.L.P. (In Re Greenberg)United States Bankruptcy Court, E.D. Pennsylvania · 1997
- Lanchile Airlines v. Connecticut General Life Insurance Co. of North AmericaDistrict Court, S.D. Florida · 1991
- New Randoldph Halsted Currency Exchange, Inc. v. Regent Title Insurance Agency, LLCAppellate Court of Illinois · 2010
- New Randolph Halsted Currency Exchange, Inc. v. Regent Title Insurance Agency, LLCAppellate Court of Illinois · 2010