Bird Peak Corp. v. Lawyers Title Insurance

SUMMARY ORDER

ON CONSIDERATION WHEREOF, IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that the judgment of said District Court be and it hereby is AFFIRMED.

This diversity action arises from a title insurance policy issued in connection with the purchase in 1993 of a 400-acre tract of land in Salisbury, Connecticut, known as Bird Peak (“the Property”). The contract to purchase was made between IPPEC Corporation, a closely held corporation created by the Ceppi family, and the New Milford Savings Bank. Prior to closing, IPPEC assigned its rights to the Property to two other closely held…