United States Seventh Circuit
EMPLOYERS INS. OF WAUSAU v. EL BANCO DE SEGUROS DEL ESTADO, 03-2484, 03-2771
The prior judgment requiring defendant to post a $9 million letter of credit was meant to secure its existing liability to plaintiff; since defendant has satisfied that liability, the letter of credit is unnecessary. Defendant remains liable, however, for substantial civil contempt sanctions arising from its failure to obey the order to post the letter of credit.
Appellate Information
- Argued 01/05/2004
- Decided 02/03/2004
- Published 02/03/2004
Judges
- POSNER, Circuit Judge., Before POSNER, KANNE, and ROVNER, Circuit Judges.
Court
- United States Seventh Circuit
Counsel
- For Appellees:
- Timothy J. Muldowney (argued), Lafollette, Godfrey & Kahn, Madison, WI, for Petitioner-Appellee., Hugh C. Griffin, Robert A. Knuti (argued), Lord, Bissell & Brook, Chicago, IL, for Respondent-Appellant.