Yedor v. Chicago City Bank & Trust Co.

54 N.E.2d 728, 323 Ill. App. 42, 1944 Ill. App. LEXIS 816
CourtAppellate Court of Illinois
DecidedMay 1, 1944
DocketGen. Nos. 42,396, 42,397, 42,543
StatusPublished
Cited by8 cases

This text of 54 N.E.2d 728 (Yedor v. Chicago City Bank & Trust Co.) is published on Counsel Stack Legal Research, covering Appellate Court of Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Yedor v. Chicago City Bank & Trust Co., 54 N.E.2d 728, 323 Ill. App. 42, 1944 Ill. App. LEXIS 816 (Ill. Ct. App. 1944).

Opinion

Mr. Justice Niemeyer

delivered the opinion of the court.

Five appeals have been taken in this case. Plaintiff as owner of 5/1360ths interest in real estate in Chicago improved by an apartment and store building, title to which was held by the Chicago City Bank and Trust Company (hereafter called the bank), as trustee, instituted a partition proceeding; she later filed her supplemental complaint for partition, for removal of the trustee and for an accounting. The court overruled defendant’s motion to strike the supplemental complaint and allowed plaintiff’s motion for judgment on the pleadings. By decree of July 23,1940 the court ordered partition and fixed the interests in the property in equity in fee simple as follows: Plaintiff— 5/1360ths; defendant Goldstein — 15/1360ths; and defendants Carlson, Kingsbery and Ttterberg the remaining 1340/1360ths. This decree was affirmed by the Supreme Court (Yedor v. Chicago City Bank & Trust Co., 376 Ill. 121.) There was no disposition of or reference to that part of the supplemental complaint calling for the removal of the trustee and for an accounting. After remandment to the trial court an order was entered July 10, 1941 awarding plaintiff $8,155 for attorneys’ fees (more than 20 times the value of her interest — under $400, based on the commissioners’ appraisal of the property at $91,000), and $900 to the commissioners — one of whom was a deputy clerk and another the bailiff assigned to the court of the trial judge. July 16,1941 an order of sale was entered requiring any purchaser at the sale to deposit with the master cash, or a certified or cashier’s check in the amount of 10 per cent of his bid, notwithstanding Carlson, Kingsbery and Ttterberg were found by the decree, as affirmed by the Supreme Court, to own over 98 per cent of the property being sold. On appeal from these orders a conference of the parties was had in the early part of December 1941, at the suggestion of the second division of this court, to which the case had been1 assigned, and as a result a stipulation was entered into by plaintiff and Carlson, Kingsbery and Ytterberg whereby the, appeal was dismissed and it was agreed that no rights would be claimed under the order allowing the fees but that these matters would be submitted for adjudication without prejudice, and that the order of sale be amended so that if parties in interest such as Carlson, Kingsbery and Ytterberg were successful bidders they should not be required to deposit with their bid an amount greater than the aggregate sum which all other parties in interest would be entitled to receive from the sales price, even though the deposit should be less than 10 per cent of the amount bid. On January 2, 1942 the order of sale was amended accordingly, but no sale was had or attempted to be had under the amended order. On the same day an order was entered reciting that the default theretofore entered against Eugene Rodin (who claimed he had been made a party as unknown owner), be vacated as to all matters not theretofore adjudicated in the decree of partition, to the end that Rodin might “appear and defend with regard to the rights and liabilities existing between him, on the one hand, and Carlson, Kingsbery and Ytterberg and the Chicago City Bank and Trust Company on the other,” and that Rodin be given leave to file his answer and cross complaint. From this time plaintiff yielded the initiative and Rodin became the director of the proceeding; he filed his answer and a counterclaim and later succeeded in having 38 persons join with him as counterclaimants in an amended and supplemental counterclaim; while the motions for leave to these additional parties to appear were pending, a petition for change of venue from the trial judge and one other judge was filed by the bank, Carlson, Kingsbery, Ytterberg and four other defendants to the supplemental complaint; Bodin and the other 38 persons, who had not yet become parties to the cause, filed a motion to strike the petition; an order was entered April 24, 1942 sustaining plaintiff’s motion (not shown by the record) to strike the petition and denying the change of venue; July 2, 1942, on motion of plaintiff, Bodin, and the 38 other owners who had been permitted to intervene and who, with Bodin, had filed an amended- and supplemental counterclaim, a third1 order of sale was entered, together with an order declaring rights with relation to bidding at the sale in the counter claimants. These orders violated the stipulation upon which the order of sale of January 2,1942 ivas entered and the conditions upon which intervention was permitted. Counter-claimants seek to justify their position by claiming they were not parties to the stipulation. From these orders the bank, Carlson, Kingsbery and Ytterberg (counter-defendants) appealed. July 13, 1942, on motion of counterclaimants, concurred in by the plaintiff, an order was entered removing the bank as trustee under Trusts 1090 and 2738 (explained more fully hereafter), and appointing a successor trustee in Trust 1090. From this order the bank appealed. September 26, 1942 on motion of plaintiff, the bank was ordered to pay to the master in chancery $586.52 to reimburse the master for obligations alleged by the plaintiff to have been incurred by the master in advertising the property for sale under the order of July 16, 1941. The bank appealed from this order. These appeals have been consolidated and motions to dismiss each appeal or, in the alternative, to transfer the two appeals first taken to the Supreme Court, have been reversed for final hearing.

In this court plaintiff joins with the counter claimants in the motions relating to the two appeals from the orders decreeing the sale, fixing the rights of connterclaimants with relation to bidding on the sale and removing the bank as trustee; she yields to counter-claimants the defense of these orders on the merits and adopts the points, authorities and arguments of counterclaimants ; she argues only the merits on the appeal with respect to the order of payment of money to the master, in which appeal she also made a motion to dismiss.

As appears from the opinion of the Supreme Court, the bank first acquired title to the property involved August 15, 1926, as trustee under a trust deed given to secure certain serial bonds; default having been made, the property was deeded to the bank August 15, 1932, as trustee under Trust 1090 for the benefit of the bondholders, all of whom deposited their unpaid bonds, which aggregated $136,000, and received certificatés of interest — one share or unit for each $100 par value of bonds deposited; the trust agreement and the certificates of interest contained provisions that the holders of beneficial interests had no right, title or interest, legal or equitable in or to any of the property covered by the trust agreement, but only an interest in the net income, proceeds and avails thereof, and that such interest shall be conclusively deemed and taken to be personal property. By the terms of the agreement the property was to be sold not later than August 15, 1939, and neither the managing committee provided for in the agreement nor any other person was given any power to continue or postpone the sale beyond that date. No sale was made within the time limited.

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Bluebook (online)
54 N.E.2d 728, 323 Ill. App. 42, 1944 Ill. App. LEXIS 816, Counsel Stack Legal Research, https://law.counselstack.com/opinion/yedor-v-chicago-city-bank-trust-co-illappct-1944.