HARTFORD CAS. INS. CO. v. BORG-WARNER CORP.

No. 89-2920.

913 F.2d 419 (1990)

HARTFORD CASUALTY INSURANCE COMPANY, Twin City Fire Insurance Company, Nutmeg Insurance Company, and Pacific Insurance Company Limited, Plaintiffs-Appellants, v. BORG-WARNER CORPORATION, BW-Transmissions & Engine Components Corporation, Borg-Warner Equities Corporation, Borg-Warner Insurance Holding Corporations, Borg-Warner Insurance Services, Incorporated, and Borg-Warner Acceptance Corporation, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided September 18, 1990.


Attorney(s) appearing for the Case

James I. Rubin, Sue Payne, Robert N. Hermes, Stephanie Leider, Butler, Rubin, Newcomer, Saltarelli & Boyd, Chicago, Ill., for plaintiffs-appellants.

Lee A. Watson, Donald E. Egan, Clay A. Tillack, Linda L. Cashmore, Katten, Muchin & Zavis, Chicago, for defendants-appellees.

Before WOOD, Jr., FLAUM, and KANNE, Circuit Judges.


HARLINGTON WOOD, Jr., Circuit Judge.

The McCarran-Ferguson Act gives the states the power to regulate the insurance industry. See 15 U.S.C. § 1012. As part of that power, Illinois, like most other states, has enacted a scheme for the liquidation or rehabilitation of insolvent insurers. See ILL.REV.STAT. ch. 73, ¶¶ 799-833.11. As creditors of an Illinois insurance company going through the rehabilitation process, Hartford Casualty Insurance...

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