Assignment Of Insurance Policies Not Included In Purchase Agreement, Panel Says

(May 29, 2019, 12:00 PM EDT) -- MOUNT VERNON, Ill. — A trial court did not err in dismissing a plaintiff’s complaint against a number of insurers seeking a finding that coverage is owed for environmental claims filed against the plaintiff’s corporate predecessor because the asset purchase agreement (APA) did not include a valid assignment of rights to the predecessor’s insurance policies, the Fifth District Illinois Appellate Court said May 24 (The Premcor Refining Group Inc., et al. v. ACE Insurance Company of Illinois, et al., No. 5-18-0210, Ill. App., 5th Dist., 2019 Ill. App. Unpub. LEXIS 935)....

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