Insurance Co. of North America v. Morris

OPINION

AMIDEI, Justice.

This appeal is from a judgment awarding damages to investors in syndicated oil and gas partnership investments. Appellant, Insurance Company of North America (“INA”), was the surety for guaranty bonds issued in connection with promissory notes executed as part of the purchase of investment shares in two partnerships called Overlord III and IV. Appellant, Waite Hill Services, Inc. (“Waite”), was INA’s managing general agent and the underwriter of INA’s surety bonds. Commonwealth Enterprises, Inc. (“Commonwealth”), a Tennessee corporation, was the syndicator and general…