Legal Opinion
Liberty Mutual Insurance v. United States Ex Rel. Lamesa National Bank (In Re Schooler)
Court of Appeals for the Fifth Circuit
Decided August 7, 2013No. 12-10677PublishedCited by 7 opinions
1Opinion of the Court
KING, Circuit Judge.
In 2009, the United States by Lamesa National Bank filed suit against Liberty Mutual Insurance Company, asserting that Liberty Mutual was liable under a federally-required surety bond for the alleged misconduct of its principal, a trustee in a Chapter 7 bankruptcy proceeding. After a trial on Lamesa’s claim, the bankruptcy court concluded that the trustee had committed gross negligence, causing damages to the bankruptcy estate in the amount of $112,247.66. The court also held that, as the trustee’s surety, Liberty Mutual was liable for those damages under the terms of the…
2Cases cited28 opinions
- F. D. Rich Co. v. United States Ex Rel. Industrial Lumber Co.Supreme Court of the United States · 1974
- O'Melveny & Myers v. Federal Deposit InsuranceSupreme Court of the United States · 1994
- Salen v. United States Lines Co.Supreme Court of the United States · 1962
- International Ass'n of MacHinists v. Central Airlines, Inc.Supreme Court of the United States · 1963
- LeBlanc v. SalemCourt of Appeals for the First Circuit · 1999
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