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IN RE LIQUID. OF GEORGETOWN LIFE INS. CO.

No. 85-1150.

148 Ill. App.3d 360 (1986)

499 N.E.2d 984

In re LIQUIDATION OF GEORGETOWN LIFE INSURANCE COMPANY (Illinois Life and Health Insurance Guaranty Association, Appellant; The Director of Insurance et al., Appellees).

Appellate Court of Illinois — First District (5th Division).

Rehearing denied November 5, 1986.

Attorney(s) appearing for the Case

Jeremiah Marsh, Richard Bromley, William Carlisle Herbert, and Mary K. Butler, all of Hopkins & Sutter, of Chicago, for appellant.

Larry M. Wolfson and Julie Reynolds Shaw, both of Jenner & Block, of Chicago, for appellee Illinois Director of Insurance.

Vincent J. Heiny, of Snouffer, Haller & Colvin, of Fort Wayne, Indiana, for appellee Hilda Willmes.

Order affirmed.

JUSTICE LORENZ delivered the opinion of the court:

The Illinois Life and Health Insurance Guaranty Association (the Association) appeals from a circuit court order rejecting the Association's proposed method of meeting its statutory obligations to certain holders of annuity contracts. The sole issue before us is the construction of a limitation of liability provision of the Illinois Life and Health Insurance Guaranty Association Law (the IGAL...

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