Tuesday, June 24, 2008
Ind. Decisions - 7th Circuit decides one Indiana case today
In Ind. Funeral Directors Ins. Trust v. Benefit Actuaries, Inc. (SD Ind., Godich, Magistrate Judge), a 14-page opinion, Judge Evans writes:
Things were hunky-dory for awhile, but eventually there came a time when the Trust experienced an unexpected spike in claims and ran out of funds to pay them all. In 1997, the Trust sued Benefit Actuaries, claiming that it violated its fiduciary duty under the Employee Retirement Income Security Act of 1972 (ERISA) and that it breached its common-law duties to the Trust by providing it with bad advice and failing to recommend measures that would have staved off insolvency. Magistrate Judge John P. Godich, hearing the case with the consent of the parties, granted summary judgment in favor of Benefit Actuaries on some of the Trust’s claims and, after a bench trial, found in favor of Benefit Actuaries on the rest. * * *
Finally, the Trust argues that the judge improperly limited the types of damages it could attempt to prove at trial. But we need not address this issue because we conclude the judge did not err in finding that Benefit Actuaries breached no duty to the Trust. Without a breach, the Trust is not entitled to damages. Therefore, the judgment is AFFIRMED.
Posted by Marcia Oddi on June 24, 2008 01:07 PM
Posted to Ind. (7th Cir.) Decisions