Rafool v. Evans et al
||Gary T Rafool
||Michael E Evans and Froehling Weber & Schell LLP
||December 27, 2012
||Illinois Central District Court
||Joe Billy McDade
|Nature of Suit:
||Bankruptcy Appeal (801)
|Cause of Action:
||28:0158 Notice of Appeal re Bankruptcy Matter (BA
|Jury Demanded By:
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|Date Filed||#||Document Text|
|September 11, 2013
ORDER & OPINION Entered by Judge Joe Billy McDade on 9/11/13. This Court agrees with the Bankruptcy Court that the letters of credit were not contracts between the Debtor and the issuing institution, that they were not executory in nature, and that t hey were not a financial accommodation to or for the benefit of the Debtor, and thus agrees that § 365(c)(2) did not prevent the bankruptcy estate from drawing upon the letters of credit after the bankruptcy filing. Appellees thus did not proximately cause Appellant's damages and it wasappropriate to grant summary judgment in Appellees' favor. Therefore, the CourtAFFIRMS the Bankruptcy Court's grant of summary judgment in Appellees' favor.IT IS SO ORDERED. (SW, ilcd)
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