Fidelity National Title Insurance Company of New York v. Howard Savings Bank

POSNER, Circuit Judge.

Before us is an appeal in a series of diversity suits (which for the sake of simplicity we’ll treat as one) against a number of Chicago banks by a title insurance company under the Uniform Fraudulent Transfer Act, in force in Illinois as 740 ILCS 160. On the defendants’ motion for summary judgment, the district judge dismissed the suit as barred by the Act’s statute of limitations. 740 ILCS 160/10.

Fidelity insured escrow accounts that were controlled by Intercounty Title Company, which conducted real estate closings, placing the purchase money in escrow until the sale…