Humboldt Bank v. Gulf Insurance

ORDER GRANTING DEFENDANT’S MOTION FOR SUMMARY JUDGMENT AND DENYING PLAINTIFF’S CROSS-MOTION FOR SUMMARY ADJUDICATION OF ISSUES

CONTI, District Judge.

This dispute arises from the theft of $5.25 million belonging to Plaintiff Humboldt Bank (“Humboldt”). Humboldt initiated the present action claiming that this loss is covered through a bond issued by Defendant Gulf Insurance Company (“Gulf’), and that Gulf is liable for any unrecovered amounts. Gulf disagrees. Presently before the Court are Gulfs Motion for Summary Judgment or Summary Adjudication of Issues, and Humboldt Bank’s Cross-Motion for…