Quimbee logo
DMCA.com Protection Status
  • H
  • Heller Financial, Inc. v. LeeHeller Financial, Inc. v. Lee
From our private database of 16,600+ case briefs...

Heller Financial, Inc. v. Lee

United States District Court for the Northern District of Illinois
2002 WL 1888591 (2002)


Harry Lee and L. Joe VanWhy (defendants) formed Royal Plaza, Limited and Maddlee, Incorporated to purchase a hotel. Royal Plaza and Maddlee borrowed $9.9 million from Heller Financial, Incorporated (Heller) (plaintiff) to finance the purchase. The nonrecourse loan provided that the defendants would be personally liable if any liens were placed on the property during the term of the loan. After purchase, the hotel was managed by a third party, and six liens were placed on the property. A few months later, Heller notified the defendants of the default and demanded the balance of the loan. The hotel was auctioned at public sale. Heller received the proceeds, but the amount was insufficient to cover the debt. Heller sued the defendants under the loan agreement. The trial court denied the defendants’ motion for summary judgment, but granted Heller’s cross-motion for partial summary judgment. The defendants appealed.

Rule of Law


Holding and Reasoning (Norgle, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.

  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.

Here's why 436,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 16,600 briefs, keyed to 223 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Questions & Answers

Have a question about this case?

Sign up for a free 7-day trial and ask it

Sign up for a FREE 7-day trial