Without having read all the court filings, on principle Chicago should have a strong legal basis for dismissal under Illinois civil suit statute of limitations. Article makes it appear that Chicago is still willing to settle with Beach though.
It does seem the Blackhawks have the law in their favour. They did note they would like to compensate and settle out of a moral obligation. I'm curious if they primary goal is to be found not guilty or to save money. Would they cut a check to make this go away?