Matrix IV, Inc. v. American Nat’l Bank and Trust Co. of Chicago

Dist. Ct. did not err in dismissing on collateral estoppel grounds plaintiff's RICO and common law fraud claims arising out of allegations that: (1) debtor in prior bankruptcy proceeding placed series of large, out of ordinary orders for plastic molds with no intention to pay plaintiff for said orders and then underwent bankruptcy in order to sell said molds to third-party at discount; and (2) defendant-bank conspired with debtor to extend debtor's credit and then destroy plaintiff's lien on said plastic molds. Record showed that plaintiff had litigated and lost same fraud allegations in bankruptcy proceeding in which plaintiff had objected to sale of debtor's assets and had sought equitable subordination of bank's lien.