Zurich American Insurance Co. scored a $1,206,304 arbitration award against Michael A. Prate Inc. in July 2013. And it looked like the insurer had solid theories under the Illinois Uniform Fraudulent Transfer Act for invalidating a $1,001,222 payment that Prate Inc. made to MB Financial Bank in June 2010 to pay off a $1 million loan that the corporation’s owner, Michael A. Prate, received from the bank. Repayment wasn’t due on Michael’s obligation (referred to as the “$1M MB loan”) when Prate Inc. stepped in to wipe out …