STORY FROM: Reinsurance & Arbitration
Insurance Fund’s Appeal Dismissed in Mine Subsidence Damages Case
January 13, 2020
SPRINGFIELD, Ill. — A federal appeals court has dismissed the Illinois Mine Subsidence Insurance Fund’s appeal of an award of summary judgment to a railroad company in a reinsurance dispute involving payments for mine subsidence damages.
On Jan. 6, the 7th Circuit U.S. Court of Appeals dismissed an appeal in which the Fund sought to challenge the trial court’s 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, the U.S. District Court for the Northern District of Illinois also held that a de facto merger ...