Ill. Union Indemnity Suit Survives 2nd Dismissal Effort

Law360, New York (October 16, 2009, 5:08 PM EDT) -- Following a federal appeals court's reversal of an earlier order, a district court judge has mostly denied Illinois Union Insurance Co.'s summary judgment bid in a dispute over whether it must pay an Alexander Manufacturing Inc. pension fund $1.3 million to cover losses allegedly caused by misleading financial statements by the company's directors.

Magistrate Judge Paul Papak of the U.S. District Court for the District of Oregon on Wednesday rejected the insurer's argument that plaintiff Alexander Manufacturing Inc. Employee Stock Ownership Plan and Trust incurred no...
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