STORY FROM: Reinsurance & Arbitration
Insurance Fund Appealing Award of Summary Judgment to Railroad in Mine Damages Case
October 22, 2019
SPRINGFIELD, Ill. — An Illinois insurance fund is appealing a federal trial court’s award of summary judgment to a railroad company in a reinsurance dispute over payments for mine subsidence damages.
The Illinois Mine Subsidence Insurance Fund filed its notice of appeal on Oct. 9 in the 7th Circuit U.S. Court of Appeals. The Fund will challenge the U.S. District Court for the Central District of Illinois’ ruling that the alter-ego exception does not apply to the general rule of no liability for the railroad company’s stockholders.
In that ruling, Magistrate Judge Tom Schanzle-Hankins also held that a de facto ...
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