Federal Deposit Insurance v. Underwriters of Lloyd's of London Fidelity Bond No. 834/FB9010020

MEMORANDUM REGARDING CROSS-MOTIONS FOR SUMMARY JUDGMENT (Docket Nos. 40, 46)

PONSOR, District Judge.

I. INTRODUCTION

The Federal Deposit Insurance Corporation (“FDIC”) brings this action against certain underwriters of Lloyd’s of London (“Underwriters”) who subscribed to a banker’s blanket bond issued in 1990 by Lloyd’s to the now-defunct Heritage Bank for Savings (“Heritage”). Specifically, defendants are those underwriters and the Generali Insurance Company who subscribed to Bond No. 834/FB9010020 issued to Heritage7Tor the bond period of September 1,1990 to September 1,1991.

Plaintiff, FDIC,…