National Union Fire Insurance v. Continental Illinois Corp.

SHADUR, District Judge.

MEMORANDUM OPINION AND ORDER

Harbor Insurance Company (“Harbor”), Allstate Insurance Company (“Allstate”) and National Union Fire Insurance Company of Pittsburgh, Pa. (“National Union”) (collectively “Insurers”) have sued Continental Illinois Corporation (“CIC”), its subsidiary Continental Illinois National Bank and Trust Company of Chicago (“Bank”)1 and a host of other defendants, seeking to avoid liability under the directors’ and officers’ (“D & 0”) liability policies (the “Policies”) Insurers had issued to CIC.2 Earlier this year Continental and Federal Deposit…