Cohen

MEMORANDUM *

Diamond Benefits Life Insurance Co. (“Diamond”) was purchased from its corporate parent by Resolute, Inc., a holding company. Resolute, led by Charles Christopher, improperly used the assets of Diamond itself to finance the purchase. In addition, shortly after the deal was consummated, another officer of Resolute, Wayne Reeder, improperly used Diamond assets to pay off his own outstanding loans. Diamond, through its receiver, brought several actions seeking to recover its stolen assets. Diamond has since resolved its claims against Christopher, Reeder, and others. In these two consolidated cases, Diamond brought suit against its former parent corporations, Joint Health Ventures (“Joint Health”) and Adventist Health System/West (‘West”), as well as against the successors-in-interest of the banks whose loans were paid off with money misappropriated from Diamond. Those banks are HomeFed Bank (“HomeFed”) and Continental Illinois National Bank & Trust Co. of Chicago (“Continental”).

Because the parties are familiar with the facts, we will not repeat them in further detail. The district court granted summary judgment to all defendants on all claims, and Diamond appeals.…