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LINCOLN-WAY FEDERAL SAV. BANK v. EMPLOYERS INS.

No. 87 C 6682.

717 F.Supp. 617 (1989)

LINCOLN-WAY FEDERAL SAVINGS BANK, Plaintiff, v. EMPLOYERS INSURANCE OF WAUSAU, Defendant.

United States District Court, N.D. Illinois, E.D.

August 3, 1989.

Attorney(s) appearing for the Case

David S. Finch, Steven H. Hoeft, McDermott, Will & Emery, Chicago, Ill., for plaintiff.

Louis C. Roberts, Rocco J. Spagna, Peterson, Ross, Schloerb & Seidel, Chicago, Ill., for defendant.

MEMORANDUM OPINION AND ORDER

MAROVICH, District Judge.

Plaintiff Lincoln-Way Federal Savings Bank ("Lincoln-Way") filed a declaratory judgment action, seeking to recover on a financial institution special bond against defendant Employers Insurance of Wausau ("Employers") for losses sustained when Lincoln-Way's mortgage-backed securities were allegedly lost or stolen by an investment firm of Bevill, Bresler and Schulman, Inc. ("BBS") and its affiliate, Bevill...

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