IN
THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS
COUNTY
DEPARTMENT, CHANCERY DIVISION
| IN THE MATTER OF THE POSSESSION | § | |
| AND CONTROL OF THE COMMISSIONER | § | |
| OF BANKS AND REAL ESTATE OF | § | Cause No. 00CH05905 |
| INDEPENDENT TRUST CORPORATION | § | Judge Sidney A. Jones III |
| a/k/a INTRUST, an Illinois corporate | § | |
| fiduciary |
ORDER AMENDING MAY 18, 2000 ORDER
On June 5, 2000 the Court considered the Motion for Order Amending May 18, 2000 Order ("Motion") filed by PricewaterhouseCoopers LLP, as Receiver ("Receiver"), with the consent of the Commissioner of Banks and Real Estate for the State of Illinois (the "Commissioner"), in connection with INDEPENDENT TRUST CORPORATION a/k/a INTRUST ("Independent"). The Court finds that notice was appropriate and sufficient under the circumstances. The Court further finds that the Motion should be granted as provided below.
THEREFORE IT IS HEREBY ORDERED THAT:
1. The Receiver is authorized, without further order of this Court, to permit withdrawals pursuant to Commissioner Directives 2 and 3; provided that the amount that may be withdrawn by any account holder (for any reason other than tax payments) shall not exceed $25,000 ("Withdrawal Cap") in any month and provided that the other requirements in Commissioner Directives Nos. 2 or 3 are satisfied.
2. The Receiver is authorized to permit withdrawal by account holders for payment of federal, state or local taxes in excess of the Withdrawal Cap, provided that the other requirements in Commissioner Directives Nos. 2 or 3 are satisfied, without further order of the Court.
3. The Court shall hear requests for hardship withdrawals for any account holder in excess of the Withdrawal Cap once each month on the second Tuesday of each month. Any motion relating to requests for hardship withdrawals in excess of the Withdrawal Cap shall be filed and served on all counsel of record by delivery or by overnight delivery service at least three business days before the motion is heard.
4. If any account holder asks the Receiver to seek this Court's approval for a hardship withdrawal other than on the monthly date described in Paragraph 3 of this Order, the Receiver is hereby authorized to condition its agreement to bring such a motion on the account holder's agreement that the Receiver may charge the account holder's account for the Receiver's reasonable fees and expenses in bringing such a motion.
5. The Receiver's past actions taken in reliance on Commissioners Directives 2, 3, 4 and 5 and Orders of the Court permitting withdrawals on the basis of hardship are hereby ratified.
SIGNED AND ENTERED this ___ day of June, 2000.
______ ____________________
JUDGE SIDNEY A. JONES, III
