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Norwood BELLEVILLE Directors and agents of Casino Queen claim their insurer has failed to abide by their defense obligations in an underlying suit alleging the insureds sold $170 million in stock for less than fair market value.  Timothy J. Rand, Charles Bidwill, III and James Koman filed a complaint (and part 2)  May 14 in the St. Clair County Circuit Court against RSUI Indemnity Company Inc., and CQ Holding Company Inc., alleging breach of contract, violation of the Illinois Consumer Fraud and violation of the Deceptive Business Practices Act.  According to the plaintiffs complaint, CQ Holdings and its insured were issued a private company management liability policy by RSUI, which provided coverage for $3 million and an aggregate policy limit of $9 million with CQ Holding paying a $75,000 retention amount.  The plaintiffs allege a class action was filed against the defendants and other directors and agents of the Casino Queen in April

United statesRonald norwoodJames komanCq holding company incIndemnity company incAcq holdingsCq holdingClair county circuit courtLewis riceCasino queenCharles bidwillCompany incIllinois consumer fraudDeceptive business practicesMadison st clair recordT clair county circuit court