Legal Opinion
Athey Products Corporation v. Harris Bank Roselle
Court of Appeals for the Seventh Circuit
Decided July 15, 1996No. 95-3557PublishedCited by 76 opinions
1Opinion of the Court
TERENCE T. EVANS, Circuit Judge.
When does a typical lender-borrower relationship constitute fraud upon one of the borrower’s unsecured creditors who supplied equipment to fill the borrower’s purchase orders, but did not get paid? In this case, not when the lender keeps the borrower solvent (by extending nearly $1.6 million on a line of credit) only long enough for the lender to recover payments on the borrower’s sale of equipment to third-party end users. This is not good news for an unsecured creditor like the Athey Products Corporation who brings us this appeal.
Athey, the plaintiff in this…
2Cases cited11 opinions
- L.S. Heath & Son, Inc. v. At & T Information Systems, Inc.Court of Appeals for the Seventh Circuit · 1993
- Lake County Grading Co. of Libertyville, Inc. v. Advance Mechanical Contractors, Inc.Appellate Court of Illinois · 1995
- State Security Insurance v. Frank B. Hall & Co.Appellate Court of Illinois · 1994
- Rubin v. Marshall Field & Co.Appellate Court of Illinois · 1992
- In the Matter of Edc, Incorporated, Debtors-AppellantsCourt of Appeals for the Seventh Circuit · 1991
6 more not listed; retrieve them via the Exa API.
3Cited by76 opinions
- Sabrina Roppo v. Travelers Commercial InsuranceCourt of Appeals for the Seventh Circuit · 2017
- Association Benefit Services, Inc. v. Caremark RX, Inc.Court of Appeals for the Seventh Circuit · 2007
- Community Bank of Trenton v. Schnuck Markets, IncorporatedCourt of Appeals for the Seventh Circuit · 2018
- Hall v. WalterSupreme Court of Colorado · 1998
- In re ChavinCourt of Appeals for the Seventh Circuit · 1998
71 more not listed; retrieve them via the Exa API.