Ill. Appellate Court Upholds Vacatur of Adverse Costs Award

CHICAGO - A trial court did not err in vacating a portion of an arbitration award granting Certain Underwriters at Lloyd's London adverse costs, an Illinois state appellate court has ruled. Virginia Surety Company Inc. v. Certain Underwriters at Lloyd's London, No. 09-45355 (Ill. App. Ct., 1st Dist.).

On April 20, the Illinois Appellate Court, 1st District, affirmed that Underwriters should not have included costs and fees relating to 1996 and 1998 reinsurance treaties in their submission of costs and expenses, rather than costs and fees relating only to the 1998 treaty as instructed by the arbitration panel. The appellate …