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Lease Agreement – Property

By: Derek Hawkins//January 22, 2018//

Lease Agreement – Property

By: Derek Hawkins//January 22, 2018//

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7th Circuit Court of Appeals

Case Name: Banco Panaamericano, Inc. v. City of Peoria, Illinois, et al.

Case No.: 17-1019

Officials: BAUER, POSNER, * and HAMILTON, Circuit Judges

Focus: Lease Agreement – Property

The central issue in this appeal is whether plaintiff Banco Panamericano has a better claim than the City of Peoria to the gas collection system and certain electrical infrastructure at the Peoria landfill. We agree with the district court that Peoria has the better claim under the terms of the lease that governed the installation and operation of the gas collection system and electrical connections.

In sum, Banco Panamericano does not have a “better claim” than Peoria to the disputed property because the bank could not have greater rights to the property than originally held by RTC. The lease between RTC and Peoria gave RTC no post‐termination property interest in the installations or structures at the Peoria landfill. The bank’s security interest could not reach the structures and installations at Peoria’s landfill, so the district court’s judgment in favor of Peoria is affirmed.

Affirmed

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Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.

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