Industrial Indemnity Co. v. Touche Ross & Co.

Opinion

CHIN, J.

Touche Ross & Co. (Touche) appeals from an order granting the motion of plaintiff and cross-appellant Industrial Indemnity Co. (Industrial) for a new trial on the issue of damages. It contends that the trial court abused its discretion in granting the motion. Applying the Supreme Court’s recent decision in Bily v. Arthur Young & Co. (1992) 3 Cal.4th 370 [11 Cal.Rptr.2d 51, 834 P.2d 745], we agree. Therefore, we reverse the new trial order. We also reject Industrial’s cross-appeal from the judgment.

Factual and Procedural Background

Buttes Gas and Oil Co. (Buttes) was a publicly…