Palm Desert National Bank v. Federal Insurance

ORDER DENYING PALM DESERT’S MOTION FOR PARTIAL SUMMARY JUDGMENT AND GRANTING FEDERAL’S MOTION FOR SUMMARY JUDGMENT

SCHIAVELLI, District Judge.

This case comes before the Court on Plaintiff Palm Desert National Bank (“PDNB”) and Defendant Federal Insurance Company’s (“Federal”) motions for partial summary judgment and summary judgment, respectively. The parties have filed a stipulation of undisputed facts (“Joint Stip”), which both parties admit forms the core of the facts necessary to resolve the cross-motions.

I. BACKGROUND

PDNB is a bank, headquartered in Palm Desert, California, that engages…