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STAMP v. BATASTINI

No. 1-89-3214.

636 N.E.2d 616 (1993)

263 Ill. App.3d 1010

201 Ill.Dec. 184

Zack STAMP, Director of Insurance for the State of Illinois, as Liquidator of Pine Top Insurance Company, Plaintiff-Appellant, v. Ralph E. BATASTINI, W. Carroll Bumpers, Milton D. Faber, James R. Grimm, Frank L. Nageotte, David A. Nielsen, Alex R. Seith, and John W. Teets, Defendants-Appellees (Touche Ross & Co., et al., Defendants).

Appellate Court of Illinois, First District, Fifth Division.

Rehearing Denied March 26, 1993.

Attorney(s) appearing for the Case

Sidley & Austin, James R. Stinson, Richard J. O'Brien Robert T. Biskup (Garry L. Smith, Chief Gen. Counsel, Office of the Sp. Deputy, of counsel), for plaintiff-appellant.

Fox and Grove, Chicago (Shayle P. Fox, Wm. Henry Barrett, Joshua D. Holleb, of counsel), for defendants-appellees.

Presiding Justice GORDON delivered the opinion of the court.*

Plaintiff, as Director of Insurance for the State of Illinois and as Liquidator of Pine Top Insurance Company ("Pine Top"), appeals from the trial court's dismissal under section 2-315 (Ill.Rev.Stat.1987, ch. 110, par. 2-615), of his action for negligence and breach of fiduciary duty against the defendants who were outside, i.e., non-management, directors of Pine Top...

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