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SKOKIE CASTINGS, INC. v. ILLINOIS INSURANCE GUARANTY FUND

No. 113873.

2013 IL 113873

SKOKIE CASTINGS, INC., as Successor to Wells Manufacturing Company, Appellee, v. ILLINOIS INSURANCE GUARANTY FUND, Appellant.

Supreme Court of Illinois.

Filed October 18, 2013.

Attorney(s) appearing for the Case

Steven T. Whitmer , Hugh S. Balsam and Christopher D. Seps , of Locke Lord Bissell & Liddell, of Chicago, for appellant.

Jack M. Shanahan and Lauren Zimmer , of Inman & Fitzgibbons, Ltd., of Chicago, for appellee.

Justice Thomas dissented, with opinion.

OPINION

JUSTICE KARMEIER delivered the judgment of the court, with opinion.

¶ 1 When an insurance company authorized to transact business in Illinois becomes insolvent and is unable to pay claims under policies it has issued to its insureds, the Illinois Insurance Guaranty Fund will step in to pay those claims after an order has been entered liquidating the company. See 215 ILCS 5/532 et seq. (West 2010). The Fund's obligation to pay covered...

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