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RESOLUTION TRUST CORP. v. AETNA CAS. & SUR. CO.

No. 93-3271.

25 F.3d 570 (1994)

RESOLUTION TRUST CORPORATION, as conservator for GreatAmerican Federal Savings and Loan Association, Plaintiff-Appellant, v. AETNA CASUALTY & SURETY COMPANY OF ILLINOIS, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided June 1, 1994.

Attorney(s) appearing for the Case

Wendi Sloane Weitman, Ray G. Rezner (argued), W. Scott Porterfield, Barack, Ferrazzano, Kirschbaum & Perlman, Chicago, IL, for plaintiff-appellant.

Francis D. Morrissey, Michael A. Pollard, Donna J. Williams, Donald J. Hayden, Thomas A. Doyle (argued), Baker & McKenzie, Chicago, IL, for defendant-appellee.

Before FAIRCHILD, CUMMINGS, and BAUER, Circuit Judges.

CUMMINGS, Circuit Judge.

This is yet another chapter in the saga of Bevill, Bresler & Schulman ("BBS"), a Livingston, New Jersey, securities dealer that went bankrupt during the mid-1980s, apparently due to massive fraud perpetrated by its officers. See, e.g., Laurie Cohen & Herb Greenberg, N.J. Securities Firm Goes Bankrupt: Oak Park S & L Owed $30 Million, Chi. Trib., April 9, 1985, at Business p. 1; James Sterngold, Bevill: Fast Growth...

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