A commercial loan between a bank trustee of a charitable trust and the charity that is the beneficiary of the trust is presumptively fraudulent without clear and convincing evidence to the contrary, an appellate court in Illinois has ruled. The Court has reversed a trial court decision authorizing the bank to proceed with an action to collect on the note and granted the charity’s motion to rescind the note for breach of fiduciary duty. The Heartland Bank & Trust Company became the trustee through a series of mergers of several charitable trusts for the benefit of a charitable nursing home in Chenoa, IL. In 2012, the CFO of the nursing home signed a promissory note with the bank,...