Land O'Lakes Creameries v. Dennis

1 Citing case

  1. St. Regis Paper v. Quality Pipeline

    469 So. 2d 820 (Fla. Dist. Ct. App. 1985)   Cited 5 times

    In sum we hold that St. Regis could participate in the bankruptcy proceedings and receive benefits thereunder on its mechanic's lien claim against Sunshine without relinquishing its right to enforce its contract claim, now reduced to judgment, against Quality. See Union Carbide Corp. v. Newboles, 686 F.2d 593 (7th Cir. 1982) (confirmed chapter XI plan did not operate to discharge bankrupt's guarantors despite language in plan to the contrary and the plaintiff's receipt of discharge of disbursement); R.I.D.C. (creditor's approval of chapter XI bankruptcy plan that purported to eliminate underlying debt did not prevent creditor from having recourse against guarantor); Land O'Lakes Creameries, Inc. v. Dennis, 340 Ill. App. 524, 92 N.E.2d 356 (1950) (acceptance of partial payment of an individual's debt guaranteed by corporation under bankruptcy composition would not preclude plaintiff from recovering balance of debt from corporation). Finally, we note that St. Regis seeks only the amount which exceeds the amount it accepted in satisfaction of its claim against Sunshine.