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Amcore Bank, N.A. v. Hahnaman-Albrecht, Inc.

Case Date: 11/14/2001
Court: 2nd District Appellate
Docket No: 2-00-1462 Rel

November 14, 2001

No. 2--00--1462


IN THE

APPELLATE COURT OF ILLINOIS

SECOND DISTRICT

 

AMCORE BANK, N.A., ROCK RIVER VALLEY,
n/k/a Amcore Bank, N.A.,

          Plaintiff-Appellant,

v.

HAHNAMAN-ALRECHT, INC., DEAN
HAMILTON, JEFFREY HAMILTON, DAVID VON
HOLTEN, and PAUL A. RITTMANIC,

          Defendants

(Grand Premier Trust and Investment,
Inc., as Trustee of the Thomas F.
Conley Trust dated September 1, 1988,
Defendant-Appellee).

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)		 Appeal from the Circuit Court
of Lee County.



No. 97--L--15








Honorable
David T. Fritts,
Judge, Presiding.

JUSTICE CALLUM delivered the opinion of the court:

Plaintiff, Amcore Bank, N.A., lent $17 million to defendant, Hahnaman-Albrecht, Inc. (HAI). When HAI defaulted on the loan, plaintiff sued HAI and theindividual guarantors, Dean Hamilton, Jeffrey Hamilton, Thomas Conley, David VonHolten, and Paul Rittmanic. Grand Premier Trust and Investment, Inc., as trusteeof the Thomas F. Conley trust dated September 1, 1988, was substituted for Conleywhen he died. Conley's guaranty had been signed by his son, Kristopher, pursuantto a durable power of attorney. Grand Premier argued that the guaranty wasinvalid because Kristopher did not have the authority to sign it. Following anevidentiary hearing, the trial court entered judgment for Grand Premier and foundno just reason to delay enforcement or appeal (155 Ill. 2d R. 304(a)).

Plaintiff appeals, arguing that the trial court erred in (1) failing tofind that plaintiff acted in good faith in relying on the power of attorney; (2)concluding that the power of attorney did not authorize Kristopher to signguaranties; and (3) failing to find that Grand Premier ratified the guaranty. We affirm.

BACKGROUND

Thomas Conley, Dean Hamilton, and Paul Rittmanic were the original foundersand shareholders of Hahnaman Elevator. In 1984, Hahnaman Elevator merged withAlbrecht Grain Company and became HAI. In August 1994, Conley (via his trust),Dean Hamilton, and Rittmanic each owned 19