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PHILIPS ELECTRONICS v. N.H. INS. CO.

Nos. 1-99-1130, 1-99-1175.

728 N.E.2d 656 (2000)

312 Ill. App.3d 1070

245 Ill.Dec. 574

PHILIPS ELECTRONICS, N.V., Philips Electronics North America Corporation, d/b/a Advance Transformer Company, Plaintiffs-Appellants, v. NEW HAMPSHIRE INSURANCE COMPANY, Reliance National Insurance Company (U.K.) Ltd., Commercial Union Assurance PLC, Royal Insurance PLC, Sorema (U.K.) Ltd., Assicurazioni Generali S.P.A., River Thames Insurance Company Ltd., Chiyoda Fire & Marine Insurance Company (Europe) Ltd., Continental Casualty Company, Arig Insurance Company Ltd., The Aetna Casualty & Surety Company, Chubb Insurance Company of Europe S.A., and A. Sharp (on his own behalf and on) behalf of each member of Syndicate 839 Defendants-Appellees (National Union Fire Insurance Company of Pittsburgh, Pa., Defendants).

Appellate Court of Illinois, First District, Fifth Division.

March 31, 2000.

Attorney(s) appearing for the Case

Sachnoff & Weaver, Ltd., Chicago (Jeffrey Gilbert and Michael Richman, of counsel), and Dickstein, Shaprio, Morin & Oshinsky, LLP, New York, NY (Jerold Oshinsky, Robin cohen, Elizabeth Sherwin, and David Mlodinoff, of counsel), for Appellants.

Clausen Miller, P.C., Chicago (Gilbert Schroeder, Mark Wilson, Scott Schmookler, Edward Kay and Barbara Michaelides, of counsel), for Appellees.

Justice HARTMAN delivered the opinion of the court:

Plaintiffs Philips Electronics N.V. and Philips Electronics North America Corporation, doing business as Advance Transformer Company, (collectively Philips) brought suit against the defendant insurers from whom it had purchased fidelity insurance policies (collectively Fidelity Insurers). Philips alleged that the Fidelity Insurers breached the insurance contracts for failure to indemnify Philips for its claimed losses...

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