United States Seventh Circuit

Reset A A Font size: Print

SCAVENGER SALE INVESTORS, L.P. v. BRYANT, 01-3275

Where a $1M settlement was entered into for the original debt of $1.6M, and the settlement agreement provided that the full $1.6M would become due in event of default, the district court's refusal to enforce the $1.6M because it was a "penalty" was reversed, and defendant ordered to abide by the terms of the settlement agreement.

Appellate Information

  • Argued 04/08/2002
  • Decided 04/30/2002
  • Published 04/30/2002

Judges

  • EASTERBROOK, Circuit Judge., Before BAUER, EASTERBROOK, and WILLIAMS, Circuit Judges.

Court

  • United States Seventh Circuit

Counsel

  • For Appellant:
  • Timothy J. Storm (argued), Chicago, IL, for plaintiff-appellant.

  • For Appellees:
  • James K. Borcia (argued), Tressler, Soderstrom, Maloney & Priess, Chicago, IL, for defendant-appellee.
Copied to clipboard