JOHN E. WASHBURN, Director of Insurance of the State of Illinois, as Liquidator of Optimum Insurance Company of Illinois, Plaintiff-Appellant,
v.
B. FREDERICK BECKER III, et al., Defendants-Appellees.
Appellate Court of Illinois — First District (1st Division).https://leagle.com/images/logo.png
Opinion filed July 17, 1989.
Opinion filed July 17, 1989.
Attorney(s) appearing for the Case
Jenner & Block, of Chicago (Russ M. Strobel, Charles B. Sklarsky, and Mark B. Tone, of counsel), for appellant.
Schiff, Hardin & Waite, of Chicago, and Satterlee, Stephen, Burke & Burke, and Rogers & Wells, both of New York, New York (W. Donald McSweeney, William A. Montgomery, and Kathleen M. Hennessey, of counsel), for appellees Arthur S. Hummel, William B. Jordan III, Michael J. Marra, Jeffrey O'Connell, Robert M. Perkins, Robert A. Reeves, Gerard R. Roche, Anthony D. Schoberl, Thomas F. Shea, and Robert H. Steele.
Phelan, Pope & John, Ltd., of Chicago, and Simpson, Thacher & Bartlett, of New York, New York (Peter C. John and Mary Patricia Benz, of counsel), for appellees William J. Clarke, Ronald H. Labenski, Edward R. Lalley, Fred L. Packer, Michael A. Smith, and Daniel R. Varona.
Ross & Hardies, of Chicago (Michael H. King, of counsel), for appellee Robert A. Wachsler.
Louis B. Garippo, Ltd., of Chicago, and Snow, Becker & Krauss, P.C., of New York, New York (Paul C. Kurland, of counsel), for appellee Thomas A. Ruden.
Arnstein, Gluck, Lehr & Milligan, of Chicago, and Lynch, Rowin, Burnbaum & Crystal, P.C., of New York, New York (John L. Ropiequet, C. Vincent Maloney, William P. Laino, and Thomas J. Lynch, of counsel), for appellee Frederick A. Vyn.
Cantwell & Balonick, of Chicago, and Rich, Granoff, Levy & Gee, of Kansas City, Missouri (Andrew V. DePaul and Loeb Granoff, of counsel), for appellee Joseph B. Gibson.
Griffin & Fadden, Ltd., of Chicago (Bradley B. Falkoff, of counsel), for appellee Gerald Dolman.
No brief filed for other appellees.
Appellate Court of Illinois — First District (1st Division).
Reversed and remanded.
JUSTICE BUCKLEY delivered the opinion of the court:
John E. Washburn (plaintiff), Director of Insurance of the State of Illinois and court-appointed liquidator of Optimum Insurance Company of Illinois (Optimum), brought suit in the circuit court to recover damages allegedly suffered by Optimum due to the acts of certain directors and officers of Optimum and its parent companies. The nonresident defendants1
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