FirstMerit Bank, N.A. v. Soltys

Plaintiff creditor received notice of debtor's bankruptcy proceedings but did not timely file an adversary claim to challenge dischargeability of its deficiency judgment claim. Plaintiff creditor cannot satisfy debt discharged in bankruptcy from property transferred by debtor to land trusts under exception for fraudulent transfers to third parties. Illinois land trusts are a vehicle for property ownership where the beneficiary retains control and are not "third party" entities for purposes of "fraudulent transfer to third parties" exceptions to bankruptcy discharge. (LAVIN and HYMAN, concurring.)