Legal Opinion
Craig v. Ontario Corp.
Court of Appeals for the Seventh Circuit
Decided September 10, 2008No. 06-4409, 08-1013PublishedCited by 90 opinions
1Opinion of the Court
WOOD, Circuit Judge.
Charles Craig worked for Ontario Corporation and participated in its employee stock option plan. Under the plan, he was entitled to transfer some of the shares of the stock he acquired to his wife Barbara, and he did so. The plan also provided for a bonus distribution of stock shares upon the participant’s retirement. When Craig retired in 2001, he offered to sell his shares back to Ontario. Ontario accepted, but it paid with three promissory notes rather than cash.
By their terms, these notes were subject to “Standby and Subordination Agreements,” which subordinated the…
2Cases cited11 opinions
- Norman Meyerson v. Harrah's East Chicago CasinoCourt of Appeals for the Seventh Circuit · 2002
- Grafon Corporation v. Elmer P. Hausermann and Marten C. HausermannCourt of Appeals for the Seventh Circuit · 1979
- Gunther Graefenhain and Philip Miller, Cross-Appellees v. Pabst Brewing Company, Cross-AppellantCourt of Appeals for the Seventh Circuit · 1989
- Sadat v. MertesCourt of Appeals for the Seventh Circuit · 1980
- prod.liab.rep. (Cch) P 15,298 Angelina and Jack McMahon v. Bunn-O-Matic Corporation, James River Paper Company, and Wincup Holdings, L.P.Court of Appeals for the Seventh Circuit · 1998
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3Cited by90 opinions
- Bond v. UtrerasCourt of Appeals for the Seventh Circuit · 2009
- International Union of Operating Engineers, Local 150 v. WardCourt of Appeals for the Seventh Circuit · 2009
- Nelson v. Welch (In Re Repository Technologies, Inc.)Court of Appeals for the Seventh Circuit · 2010
- Strabala v. ZhangDistrict Court, N.D. Illinois · 2016
- Cheryl Dalton v. Teva North AmericaCourt of Appeals for the Seventh Circuit · 2018
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