Bank of America v. Freed

Court held Defendants in civil contempt for transferring nearly $5 million in violation of citations to discover assets to enforce $110.9 million judgment in commercial real estate foreclosure. Even if transfers were made in course of business and to adhere to other obligations, transfers violated Section 2-1402(f)(1) of Code of Civil Procedure, which does not provide exception for transfers made in ordinary course of business. Thus, finding of contempt for dissipating assets was not against manifest weight of evidence. As Defendants had taken no steps to ensure that employees were abiding by terms of citations and had allowed transfers in violation of citations, court properly appointed receiver, but order failed to include proper purge provision and improperly left to receiver's discretion whether and when sanction could be lifted. (CUNNINGHAM and HARRIS, concurring.)