Legal Opinion
Federal Deposit Insurance Corporation, in Its Separate Corporate Capacity v. Aetna Casualty and Surety Company
Court of Appeals for the Sixth Circuit
Decided May 24, 1990No. 89-5866PublishedCited by 49 opinions
1Opinion of the Court
ROBERT HOLMES BELL, District Judge.
Defendant-Appellant Aetna Casualty and Surety Company (“Aetna”) appeals from a jury verdict awarding $3,000,000 in compensatory damages and $3,500,000 in punitive damages to plaintiff-appellee, Federal Deposit Insurance Corporation (“FDIC”). The action is premised upon Aetna’s refusal to allow FDIC, as receiver for United Southern Bank of Nashville (USBN), to claim coverage under certain bankers blanket bonds. The Court finds that exclusion provisions in the bonds pre-elude the FDIC’s action and accordingly reverses.
I
Factual Background
USBN was owned in part…
2Cases cited20 opinions
- United Paperworkers International Union v. Misco, Inc.Supreme Court of the United States · 1987
- W. R. Grace & Co. v. Local Union 759, International Union of the United Rubber, Cork, Linoleum & Plastic WorkersSupreme Court of the United States · 1983
- Muschany v. United StatesSupreme Court of the United States · 1945
- Baltimore & Ohio Southwestern Railway Co. v. VoigtSupreme Court of the United States · 1900
- VIDAL v. Girard's ExecutorsSupreme Court of the United States · 1844
15 more not listed; retrieve them via the Exa API.
3Cited by49 opinions
- St. Paul Fire and Marine Insurance Company v. Federal Deposit Insurance Corporation, as Receiver of the State Bank of Greenwald, Minnesota v. Douglas A. Winter Bernadine Winter Robert J. OsendorfCourt of Appeals for the Eighth Circuit · 1992
- Rolex Watch U.S.A., Inc. v. CrowleyCourt of Appeals for the Sixth Circuit · 1996
- Roussalis v. Wyoming Medical Center, Inc.Wyoming Supreme Court · 2000
- Finci v. American Casualty Co. of ReadingCourt of Appeals of Maryland · 1991
- Federal Deposit Insurance Corporation, in Its Corporate Capacity v. Fidelity & Deposit Company of MarylandCourt of Appeals for the Fifth Circuit · 1995
44 more not listed; retrieve them via the Exa API.