Pasternak v. Boutris

Opinion

COOPER, J.

* This appeal, from a judgment granting a writ of administrative mandamus (Code Civ. Proc., § 1094.5), concerns the statutory responsibility of appellant Escrow Agents’ Fidelity Corporation (EAFC) to indemnify for losses suffered by member escrow agents as the result of fraudulent misappropriation of trust obligations by their owners, officers, or employees. (Fin. Code, § 17300 et seq.) At issue is the superior court’s rejection of a decision by the acting Commissioner of Corporations (commissioner), 2 which denied an administrative appeal by David J. Pasternak (receiver),…