WILKOW V. FORBES, INC.
241 F.3d 552 (7th Cir. 2001)
NATURE OF THE CASE: This was an appeal from a dismissal of a defamation complain under
Fed. R. Civ. P. 12(b)(6) for failure to state a claim on which relief may be granted.
FACTS: Forbes (D) ran a column on pending litigation of interest to the business
community. It covered the 203 North LaSalle case. The majority opinion in the Supreme Court
required about 8,000 words to resolve the case. D wrote a 670-word article. What it lacked
in analysis it made up for with colorful verbs and adjectives. D complained that 'many
judges, ever more sympathetic to debtors, are allowing unscrupulous business owners to rob
creditors.' It stated that a partnership led by Marc Wilkow 'stiffed' the bank, paying only
$55 million on a $93 million loan while retaining ownership of a building. The article
stated that. 'Wilkow and his partners pleaded poverty. To keep the bank from foreclosing,
LaSalle Partnership filed for bankruptcy. Appraisals of the property came in at less than
$60 million. In theory the bank was entitled to the entire amount. It suggested selling the
property to the highest bidder. Determined to keep the building, LaSalle partners asked the
bankruptcy court instead to accept a plan under which the bank would likely receive a
fraction of what it was owed while the partners would keep the building. The bank, not the
equity holder, would take the hit.' Wilkow (P) filed suit claiming defamation by asserting
that he was in poverty (or, worse, 'pleaded poverty' when he was solvent) and had filched
the bank's money. The district court dismissed the complaint under Fed. R. Civ. P. 12(b)(6)
for failure to state a claim on which relief may be granted.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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