Legal Opinion
Maher v. Harris Trust & Savings Bank
Court of Appeals for the Seventh Circuit
Decided February 5, 1996No. 95-1103PublishedCited by 6 opinions
1Opinion of the Court
CUMMINGS, Circuit Judge.
The issue in this case is whether the creation of trusts established to provide deferred compensation to a bank’s top execufives, and bonuses paid to those executives, violated 12 C.F.R. §§ 563.89 and 563.39-1 (1987). Those sections prohibit thrift institutions from establishing pension plans and entering employment contracts that “could lead to material financial loss or damage” to the bank. Because we agree that the trusts and bonuses violated those sections, we affirm the district court’s decision.
Background
On May 19,1987, the Board of Directors of Horizon Federal…
2Cases cited11 opinions
- Capitol Leasing Company v. Federal Deposit Insurance CorporationCourt of Appeals for the Seventh Circuit · 1993
- Paper Express, Limited, an Illinois Corporation v. Pfankuch Maschinen Gmbh, a German CorporationCourt of Appeals for the Seventh Circuit · 1992
- Harold Wilson v. Michael O'leary, Warden, Stateville Correctional CenterCourt of Appeals for the Seventh Circuit · 1990
- Gary D. Pignato v. American Trans Air, Inc.Court of Appeals for the Seventh Circuit · 1994
- Hillel Aronson v. Resolution Trust CorporationCourt of Appeals for the Ninth Circuit · 1994
6 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Bank of America, N.A., Creditor-Appellant v. Alex D. Moglia, Trustee-AppelleeCourt of Appeals for the Seventh Circuit · 2003
- Settlers' Housing Service, Inc. v. Schaumburg Bank & Trust Co. (In re Settlers' Housing Service, Inc.)United States Bankruptcy Court, N.D. Illinois · 2015
- Perik v. JPMorgan Chase Bank, N.A.Appellate Court of Illinois · 2015
- Maher v. Harris Trust and Savings BankCourt of Appeals for the Seventh Circuit · 1996
- Perik v. JPMorgan Chase Bank, N.A.Appellate Court of Illinois · 2015
1 more not listed; retrieve them via the Exa API.