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