—noted that "in Illinois, as in other jurisdictions, the immunity conferred on public officials is a qualified one, one that is displaced by an official's... malicious and corrupt conduct in the performance of discretionary duties."

Further, the pendency of workers' compensation proceedings before the arbitrator in the same month in which the net proceeds of sale were transferred by Thomas Fisher to his son demonstrated the existence of an actual or contemplated indebtedness

However, for the purposes of the limited holding here this court need not, and does not, adopt or espouse the conclusions of these cases, or other cases, to any extent they may be interpreted to indicate that such statutes impose no duty to depositors or creditors of such institutions

We admit that a general statutory scheme for the protection of a particular class of the public can give rise to a reliance by the public on existence of that protection in conducting their affairs, and that the breach of that reliance and protection may impose liability.

In a fact situation quite similar to this one, the Seventh Circuit recently held that a state official's statutory duty to examine and regulate state-chartered savings and loan associations, pursuant to the Illinois Savings and Loan Act, was enforceable by the injured depositors.

—fiduciary has a duty of full and complete disclosure and failure to correct a material misapprehension constitutes actual fraud

This case presents what would seem to be the final chapter in the protracted litigation involving an attempt by Samuel Berke, as receiver of the defunct City Savings Association of Chicago, to recover from the estate of Joseph E. Knight, former director of the Department of Financial Institutions of the State of Illinois, losses suffered by the Association's depositors

Despite the inclination of most courts to defer to the discretionary acts of governmental administrative agencies, some courts have held that the government can seriously prejudice the position of a bank or thrift director when federal or state bank examiners conduct faulty inspections or fail to adequately warn the directors of impending problems.

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