The First National Bank of Bowie v. The Fidelity and Casualty Company of New York

This appeal arises from an action brought by the First National Bank of Bowie (Bank) against the Fidelity and Casualty Company of New York (Company) for indemnity for attorneys fees and court costs pursuant to the terms of a banker’s blanket bond (Bond) issued by the Company in favor of the Bank. The fees and costs were expended in the defense of seven lawsuits brought against the Bank, all alleging a conspiracy to defraud various persons through a forgery and check kiting scheme perpetrated by Flynn W. Stewart, a director of the Bank at the time of the alleged scheme, and purportedly…