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PINE TOP RECEIVABLE v. BANCO DE SEGUROS DEL ESTADO

No. 16-3499.

867 F.3d 709 (2017)

PINE TOP RECEIVABLES OF ILLINOIS, LLC, Plaintiff-Appellant, v. BANCO DE SEGUROS DEL ESTADO, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided August 7, 2017.

Attorney(s) appearing for the Case

John W. Cerreta , Thomas O. Farrish , William D. Goddard , Attorneys, Day Pitney, Hartford, CT, Mary Cannon Veed , Attorney, Mary Cannon Veed & Associates, Hinsdale, IL, for Plaintiff-Appellant.

Edward F. Dunne , Robert A. Badgley , Attorneys, Karbal, Cohen, Economou, Silk & Dunne, Ernesto R. Palomo , Attorney, Locke Lord LLP, Chicago, IL, for Defendant-Appellee.

Before Easterbrook, Manion, and Hamilton, Circuit Judges.

Between 1977 and 1984 Pine Top Insurance Company (the Insurer) and Banco de Seguros del Estado (Banco) entered into five treaties, by which Banco reinsured about 2% of the Insurer's business. The Insurer stopped writing policies in 1985, went into receivership in 1986, and began liquidating in 1987. But there were still...

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