Seventh Circuit Court of Appeals
890 F.2d 11 (1989)
Bane (plaintiff) was a partner in a law firm in Illinois. The firm’s retirement plan instrument provided that the plan and retirement benefit payments would end if the firm dissolved without a successor entity. Bane retired and began collecting retirement benefits. The firm merged with another firm and eventually dissolved without a successor entity, and Bane’s retirement benefits were terminated. In a diversity action governed by Illinois law, Bane sued the members of the firm’s managing council (the council) (defendants), claiming that the council negligently managed the firm in the period leading up to the dissolution and merger. The district judge dismissed the complaint.
Rule of Law
Holding and Reasoning (Posner, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students. Read more about Quimbee.
Here's why 200,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 14,000 briefs, keyed to 188 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.