Admiral Insurance v. Arrowood Indemnity Co.

MEMORANDUM OPINION AND ORDER

SAM A. LINDSAY, District Judge.

Before the court are the appeal of Admiral Insurance Company, Inc. and Monitor Liability Managers, Inc., filed April 4, 2011; and the cross-appeal of Arrowood *693Indemnity Company, filed May 5, 2011.1 After consideration of the briefs, replies, record on appeal, and the applicable law, the court affirms in part and reverses in part the judgment of the bankruptcy court entered on October 25, 2010.

I. Factual and Procedural Background

The bankruptcy court, in its April 30, 2010 findings, adopted the stipulated facts set forth in the parties’…