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WHIRLPOOL FINANCIAL CORP. v. GN HOLDINGS, INC.

No. 94 C 4192.

873 F.Supp. 111 (1995)

WHIRLPOOL FINANCIAL CORPORATION, Plaintiff, v. GN HOLDINGS, INC., etc., et al., Defendants.

United States District Court, N.D. Illinois, Eastern Division.

January 6, 1995.

Attorney(s) appearing for the Case

Roy M. Van Cleave, Jonathan G. Bunge, John F. Young, Chicago, IL, for plaintiff.

Mark E. Ferguson, Mark L. Levine, Matthew F. Kennelly, Chicago, IL, for defendants.

MEMORANDUM OPINION AND ORDER

SHADUR, Senior District Judge.

Whirlpool Financial Corporation ("Whirlpool") has sued GN Holdings, Inc. ("GN"), W.R. Grace & Co. — Conn. ("Grace"), Kevin ("Kevin") and Michelle Clark (collectively "Clarks") and Robert ("Robert") and Diane Bok (collectively "Boks") to rescind Whirlpool's $10 million loan to GN. Because that transaction involved the "sale" of GN's $10 million note to Whirlpool for securities laws...

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