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EMPLOYERS INS. OF WAUSAU v. DOONAN

No. 86-4047.

712 F.Supp. 1368 (1989)

EMPLOYERS INSURANCE OF WAUSAU, a mutual company as assignee of Bank of Viola, Plaintiff, v. Emory Lee DOONAN, et al., Defendants.

United States District Court, C.D. Illinois, Rock Island Division.

May 22, 1989.

Attorney(s) appearing for the Case

Louis C. Roberts, Chicago, Ill., Peter Lousberg, Rock Island, Ill., for plaintiff.

Robert L. Ellison, Rock Island, Ill., for Doonans.

Frank J. Galvin, Rock Island, Ill., for Elliotts.

Douglas Scovil, Rock Island, Ill., for Universal Provisions.

David J. Mason, Sun City, Ariz., for Mason.

Franklin Wallace, Rock Island, Ill., for Fisher.

Stuart Lefstein, Rock Island, Ill., for Gallagher, Milliken, Slavish and Lambin.

MEMORANDUM OPINION

MIHM, District Judge.

At issue is whether an insurance company has a right of subrogation against bank officers or directors for conduct greater than mere negligence but not rising to the level of fraud, bad faith, personal benefit or actual knowledge.

Previously this Court applied the reasoning of two state courts in determining that no right of subrogation exists for mere negligence. First National Bank of Columbus v. Hansen...

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