Acer America Corp. v. SmithAmundsen LLC

2023 IL App (1st) 221104-U
CourtAppellate Court of Illinois
DecidedNovember 3, 2023
Docket1-22-1104
StatusUnpublished

This text of 2023 IL App (1st) 221104-U (Acer America Corp. v. SmithAmundsen LLC) is published on Counsel Stack Legal Research, covering Appellate Court of Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Acer America Corp. v. SmithAmundsen LLC, 2023 IL App (1st) 221104-U (Ill. Ct. App. 2023).

Opinion

2023 IL App (1st) 221104

FIFTH DIVISION November 3, 2023

No. 1-22-1104

NOTICE: This order was filed under Supreme Court Rule 23 and is not precedent except in the limited circumstances allowed under Rule 23(e)(1).

IN THE APPELLATE COURT OF ILLINOIS FIRST JUDICIAL DISTRICT

ACER AMERICA CORPORATION, ) ) Plaintiff-Appellant, ) v. ) ) Appeal from the SMITHAMUNDSEN LLC, ) Circuit Court of ) Cook County. Defendant-Appellee. ) ) ) No. 2019 L 001715 SMITHAMUNDSEN LLC, ) ) Third-Party Plaintiff/Cross-Appellant, ) Honorable v. ) Jerry A. Esrig, ) Judge Presiding ORRICK, HARRINGTON & SUTCLIFFE LLP, ) ) Third-Party Defendant/Cross-Appellee. )

JUSTICE MIKVA delivered the judgment of the court. Presiding Justice Mitchell and Justice Lyle concurred in the judgment.

ORDER

¶1 Held: The circuit court’s grant of summary judgment in defendant law firm’s favor is affirmed; the firm’s failure to file plaintiff’s lawsuit against its insurance broker in California rather than in Illinois could not form the basis for a claim of legal malpractice where that underlying suit was time-barred in both states. No. 1-22-1104

¶2 Plaintiff Acer America Corporation (Acer) engaged AON Trade Credit Insurance Services,

Inc., and AON Risk Services (collectively, Aon), to procure credit insurance protecting it against

the risk of default by its retail customers. One of those customers, Circuit City Stores, Inc. (Circuit

City), filed for bankruptcy, and the bankruptcy trustee filed a preference claim against Acer

seeking a return of payments Circuit City had made to Acer in the 90 days prior to the filing of the

bankruptcy petition. The policy Aon had procured for Acer did not cover such claims, and Acer

ultimately litigated the claim before settling it at a loss.

¶3 More than two years from the denial of coverage, but less than two years from the date on

which Acer settled the preference claim, Acer hired defendant SmithAmundsen to assert a

professional negligence claim against Aon, which the firm filed in Cook County, Illinois. That suit

was dismissed as time-barred, on the basis that the two-year statutory limitations period for such

claims began to run when the insurer denied coverage. We affirmed that dismissal on appeal. Acer

America Corp. v. AON Trade Credit Insurance Services, Inc., 2017 IL App (1st) 170830-U.

¶4 Acer then initiated this action against SmithAmundsen, alleging that the firm negligently

failed to file the lawsuit against Aon in California, where a two-year statute of limitations also

applies, but where claims do not accrue until a plaintiff has suffered actual damages. Acer

maintained that it was not damaged until it settled with the bankruptcy trustee, and a suit filed

against Aon in California would therefore have been timely. The circuit court granted

SmithAmundsen’s motion for summary judgment, agreeing with the firm that Acer suffered actual

damages shortly after the denial of coverage, when it incurred legal expenses to have outside

counsel advise it on the coverage problem and was forced to negotiate with the bankruptcy trustee

from a compromised position.

¶5 Acer now appeals and, for the reasons that follow, we affirm.

2 No. 1-22-1104

¶6 I. BACKGROUND

¶7 The underlying facts, summarized below from the parties’ pleadings and the affidavits and

supporting documents attached to their summary judgment briefing, are generally undisputed.

¶8 A. Acer’s Underlying Claim Against Aon

¶9 Acer is a California corporation that sells computers, monitors, tablets, and similar products

to large retail customers, often receiving payment for those goods 30-90 days after delivery. Acer

has historically obtained credit insurance to cover the risk of default by its customers, and in 2005

Aon, an insurance broker headquartered in Illinois, solicited Acer to become the company’s broker

for such coverage. Acer provided Aon with a copy of its then existing policy, which provided Acer

with, among other things, coverage in the event of default by a creditor who subsequently filed for

bankruptcy protection and an endorsement protecting Acer from preference claims made by a

bankruptcy trustee. Aon proposed a new policy, through insurer Euler Hermes (Euler), that Acer

understood would provide it with the same protections and a higher coverage limit. Acer agreed

to use Aon as its broker, and beginning in 2006, Aon placed Acer’s credit insurance with Euler.

¶ 10 On November 10, 2008, one of Acer’s retail customers, Circuit City, filed for Chapter 11

bankruptcy protection in the Eastern District of Virginia. Sections 547 and 550 of the United States

Bankruptcy Code allow a bankruptcy trustee to file a preference claim to recover any property

transferred by the debtor to another party in the 90 days preceding the filing of the bankruptcy

petition that the court determines constituted a “preferential transfer.” 11 U.S.C. § 547(b) (2006);

11 U.S.C. § 550 (2006). On November 5, 2010, the Circuit City bankruptcy trustee did just that,

seeking the return of approximately $32 million that Circuit City had paid to Acer in the 90 days

preceding the filing of Circuit City’s bankruptcy petition.

¶ 11 In an April 29, 2011, e-mail confirming their previous telephone conversations, Euler

3 No. 1-22-1104

informed Acer that because the credit insurance policy Aon had procured for it only covered

preference claims made and settled or adjudicated within 90 days of the filing of the bankruptcy

petition, the claim asserted by the Circuit City bankruptcy trustee “[did] not appear to be covered.”

However, due to what it viewed as its “excellent relationship” with Acer, Euler was willing to

contribute, as a “commercial gesture,” a portion of the total amount that Acer would have to pay

back to Circuit City.

¶ 12 Following this exchange, Acer consulted its outside counsel, Womble Carlyle Sandridge

& Rice, LLP (Womble), to assess the preference claim filed by the trustee against Acer and the

insurance issue. Womble prepared a detailed memorandum on May 3, 2011, outlining Acer’s

defenses to the preference claim and the likelihood of Acer obtaining coverage if required to pay

back the money it had received from Circuit City. Womble concluded that there was a good chance

that some but not all of the payments Acer received from Circuit City in the 90 days before it filed

for bankruptcy would be considered payments made in the ordinary course of business and not

preferential payments, but that the bankruptcy trustee was more than 60% likely to obtain a

judgment of at least $8 million against Acer. Because the Euler policy was an indemnification

policy, any settlement or judgment would be Acer’s responsibility, and Acer would then need to

seek indemnification from Euler. Womble did not agree with Euler that the policy provided no

coverage for preference claims but acknowledged that a preference claim “[did] not fit neatly

within the typical claims asserted under [that] Policy.” According to Womble, Acer’s chances of

prevailing on a claim against Euler were, “at best, 50% and more realistically around 40%.”

¶ 13 Acer attempted to mediate the claim with the bankruptcy trustee on May 11, 2011, but no

settlement was reached.

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Bluebook (online)
2023 IL App (1st) 221104-U, Counsel Stack Legal Research, https://law.counselstack.com/opinion/acer-america-corp-v-smithamundsen-llc-illappct-2023.