Legal Opinion
Ludgate Ins. Co. Ltd. v. Becker
District Court, N.D. Illinois
Decided December 4, 1995No. 95 C 4086PublishedCited by 4 opinions
1Opinion of the Court
MEMORANDUM AND ORDER
MORAN, Senior District Judge.
Plaintiff Ludgate Insurance Company Limited (Ludgate) brought this action against B. Frederick Becker (Becker) and William E. Lape (Lape), two of Ludgate’s former directors, for breach of fiduciary duty in relation to their approval of a commutation agreement which allegedly deprived Ludgate of assets without adequate compensation. Plaintiff also seeks to impose a constructive trust, or in the alternative to obtain a rescission remedy, against defendant American Continental Insurance Company (ACIC), the other party to the commutation agreement,…
2Cases cited26 opinions
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- Gulf Oil Corp. v. GilbertSupreme Court of the United States · 1947
- Piper Aircraft Co. v. ReynoSupreme Court of the United States · 1982
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3Cited by4 opinions
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