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LYONS S. & L. ASS'N v. WESTSIDE BANCORPORATION

No. 85 C 6501.

636 F.Supp. 576 (1986)

LYONS SAVINGS & LOAN ASSOCIATION, an Illinois association, Plaintiff, v. WESTSIDE BANCORPORATION, INC., a Delaware corporation, Westside Federal Savings and Loan Association, a Washington association, Robert A. King, Robert W. Abel, Daniel K. Woodruff, Anne E. Kelley, Jon W. Hosea, Robert D. Bly, Mary Ryan, and Kathy Konesky, Defendants.

United States District Court, N.D. Illinois, E.D.

March 26, 1986.

Attorney(s) appearing for the Case

Douglas Drenk and David Drenk, Guerard, Konewko & Drenk, Wheaton, Ill., for plaintiff Lyons Sav. and Loan Ass'n.

David Herbst, Portes, Sharp, Herbst & Kravets, Chicago, Ill., for intervenors.

Robert Patterson, Antony Burt and John Rogers III, Hopkins & Sutter, Chicago, Ill., for defendant FSLIC as receiver for Westside.

Steven McCormick, David Erie, Kirkland & Ellis, Chicago, Ill., for all individual defendants except Kathy Konesky.

MEMORANDUM AND ORDER

MORAN, District Judge.

This action centers around a loan participation agreement ("agreement") which financed construction of condominiums in Hawaii. Lyons Savings & Loan Association ("Lyons") and several other banks bought an interest in the loan from Westside Federal Savings & Loan Association ("Westside"). Westside Bancorporation is Westside's parent company. The individual defendants named are past or present directors or...

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