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RICE v. LSREF3 SAPPHIRE TRUST 2014

No. 14-3636.

CHARLES B. RICE, SR., et al., Plaintiffs-Appellees, v. LSREF3 SAPPHIRE TRUST 2014, et al., Defendants-Appellants.

United States Court of Appeals, Seventh Circuit.

Decided September 18, 2017.

Attorney(s) appearing for the Case

Jonathan S. Quinn , for Plaintiff-Appellee.

Scott C. Frost , for Plaintiff-Appellee.

Jonathan William Young , for Plaintiff-Appellee.

James P. Sullivan , for Defendant-Appellant.

John Joseph Scharkey, III , for Plaintiff-Appellee.

Robert D. Sweeney , for Plaintiff-Appellee.

Eric Youngbin Choi , for Plaintiff-Appellee.

Mia D. D'andrea , for Defendant-Appellant.

Before FRANK H. EASTERBROOK, MICHAEL S. KANNE, ANN CLAIRE WILLIAMS,

NONPRECEDENTIAL DISPOSITION

To be cited only in accordance with Fed. R. App. P. 32.1

ORDER

Charles Rice, Sr., and Catherine Rice guaranteed a loan from Harris Bank to Barkston Properties, LLC. The loan went into default, and two forbearance agreements were reached. Under the second of these agreements only a new default supports acceleration of the principal and immediate collection. In June 2014 the Bank assigned the loan and guarantee to LSREF3...

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