United States Court of Appeals
For the Seventh Circuit
Chicago, Illinois 60604
December 16, 2010
HON. JOEL M. FLAUM, CIRCUIT JUDGE
HON. ANN CLAIRE WILLIAMS, CIRCUIT JUDGE
HON. DIANE S. SYKES, CIRCUIT JUDGE
REGER DEVELOPMENT, LLC, ]
] Appeal from the United
Plaintiff‐Appellant, ] States District Court for
] the Northern District of
] Illinois, Eastern Division.
No. 09‐2821 v. ]
] No. 08 CV 6200
NATIONAL CITY BANK, ]
] Virginia M. Kendall,
Defendant‐Appellee. ] Judge.
O R D E R
The opinion issued in the above‐entitled case on January 20, 2010, is hereby
amended as follows:
On Page 12, line 11 through the end of the paragraph should read:
The bank’s decision to hold off on taking full advantage
of its legitimate powers until it could discuss less painful
possibilities with its customer is not an impermissible
threat and cannot give rise to any suit for breach. Reger
Development’s lone citation for the contrary proposition
is Kham & Nate’s Shoes No. 2, Inc. v. First Bank of
Whiting,
908 F.2d 1351 (7th Cir. 1990). That opinion
discussed the duties of a bank under the bankruptcy
code and expressly concluded that good‐faith
restrictions did not override a demand‐note lender’s
contractual rights and obligations. See
id. at 1357‐58;
see also
id. at 1357 (“Firms that have negotiated contracts
are entitled to enforce them to the letter, even to the
great discomfort of their trading partners, without
being mulcted for lack of ‘good faith.’”).
