Following discovery, the plaintiff filed several motions for summary disposition, seeking a judgment for the deficiency, among other things. The lower court found for the plaintiff. Cherryland and Schostak appealed, contesting whether Schostak was liable for the entire deficiency, because insolvency was a violation of Cherryland's SPE status.
Ralph T. Wutscher
McGinnis Tessitore Wutscher LLP
The Loop Center Building
105 W. Madison Street, 18th Floor
Chicago, Illinois 60602
Direct: (312) 551-9320
Fax: (312) 284-4751
Mobile: (312) 493-0874
NOTICE: We do not send unsolicited emails. If you received this email in error, or if you wish to be removed from our update distribution list, please simply reply to this email and state your intention. Thank you.
Our updates are available on the internet, in searchable format, at: