Falcon v. Beverly Hills Mortgage Corp.

OPINION

ROLL, Presiding Judge.

Garnishors Sergio Grijalva Falcon and others (investors) appeal from the trial court’s order granting Lloyd’s of London (Lloyd’s) and Employers Reinsurance Corporation’s (ERC) motion to quash the investors’ writs of garnishment. For the reasons set forth below, we affirm as to ERC’s motion and vacate and remand as to the motion filed by Lloyd’s.

FACTS

Beverly Hills Mortgage Corporation (BHMC) conducted a mortgage banking operation in Tucson, Arizona. Ramon Campbell owned and was employed by BHMC. On December 1, 1985, BHMC obtained a primary bond policy from Lloyd’s…