Business Torts, Residential Real Estate, Insurance

Mississippi Court Holds D&O Policy Not Triggered By Real Estate Scheme

by Traub Lieberman Straus & Shrewsberry LLP on 4/26/2013

In its recent decision in State Farm Fire & Cas. Co. v. Anderson, 2013 U.S. Dist. LEXIS 57837 (S.D. Miss. Apr. 23, 2013), the United States District Court for the Southern District of Mississippi had occasion to consider...more

Superstorm Sandy Is Causing New York and New Jersey Legislators to Reconsider Passing Legislation that Would Establish a Private...

by Melissa Brill, Kellyn Muller | Cozen O'Connor on 4/5/2013

Policyholders in New York and New Jersey presently have no private right of action against insurance companies for alleged violations of each state’s respective statutory claim handling guidelines – New York’s Unfair Claim...more

CFPB announces settlement of four enforcement actions against mortgage insurers

by Richard J. Andreano, Jr. | Ballard Spahr LLP on 4/5/2013

The CFPB announced the settlement of enforcement actions brought in federal district court in Florida against four national mortgage insurers involving allegations that the insurers paid kickbacks to mortgage lenders in...more

New York Obtains Major Lender-Placed Insurance Settlement

by BuckleySandler LLP on 4/1/2013

On March 21, the New York Department of Financial Services (DFS) announced that it obtained a settlement from a major lender-placed insurer to resolve an investigation into the company’s practices. According to the DFS, the...more

The Washington Supreme Court Holds That in First-Party Bad Faith Litigation There Is a Presumption of No Attorney-Client Privilege

by Craig Bennion, Meredith Dishaw | Cozen O'Connor on 3/15/2013

When an insured sues an insurer for bad faith, how much of the claims file maintained by the insurer is discoverable? In a 5-4 decision, the Washington Supreme Court recently weakened insurers’ ability to protect confidential...more

Maryland establishes tort duty of care for title companies

by Thomas Valkenet on 1/30/2013

On January 29, 2013, the Maryland Court of Appeals issued a decision that your title company can now be sued for negligent title searching, and for preparation of an incorrect or incomplete title commitment. This duty of...more

MARYLAND TITLE COMPANY CAN BE LIABLE IN NEGLIGENCE FOR TITLE SEARCH ERRORS

by Harry Levy on 1/30/2013

Does a title company owe a tort duty of care to its customer when conducting a title search? And, if such a duty exists and is breached, is a title insurance company vicariously liable for the title company’s negligent title...more

Bond Insurer Syncora Sues JPMorgan, Bear Stearns, and EMC Mortgage

by Orrick - Structured Finance Group on 10/16/2012

On October 5, Syncora Guarantee Inc. filed suit in New York state court against JPMorgan Chase Bank NA, Bear Stearns & Co., Inc., and EMC Mortgage LLC. Syncora asserts claims of breach of contract, fraudulent inducement, and...more

Condo Directors Held Personally Liable for Legal Costs - A Follow-up

by Heenan Blaikie LLP on 8/2/2012

In response to our recent post on the case of Boily v. Carleton Condominium Corp. No. 145, where board directors were held by a court to be personally responsible for legal costs incurred by a group of owners, one of our...more

Judge Denies Washington Mutual’s Motion for Summary Judgment

by Orrick - Structured Finance Group on 7/30/2012

On July 23, Judge Marsha Pechman of the United States District Court for the Western District of Washington denied Washington Mutual’s motion for summary judgment. Plaintiffs allege that Washington Mutual misrepresented the...more

Federal Court Orders Bayerische Landesbank RMBS Lawsuits Back to State Court

by Orrick - Structured Finance Group on 7/24/2012

On July 16, Judge Lewis A. Kaplan of U.S. District Court for the Southern District of New York remanded suits brought by Bayerische Landesbank against Bear Stearns and Merrill Lynch to the Supreme Court of the State of New...more

Bank of America Settles Syncora RMBS Action for $375 Million

by Orrick - Structured Finance Group on 7/24/2012

On July 17, Bank of America agreed to settle a case brought in New York state court by insurer Syncora Guarantee for $375 million. The settlement also includes a transfer of assets from Syncora to Bank of America subsidiaries...more

Syncora Permitted to Prove its Breach Claims Without Showing That Alleged Breaches Caused Loans to Default

by Orrick, Herrington & Sutcliffe LLP on 6/26/2012

On June 19, 2012, Judge Paul Crotty of the Southern District of New York granted in part Syncora Guarantee Inc.’s motion for partial summary judgment concerning the showing necessary to prove its claims for breach against EMC...more

California Federal District Court Dismisses Four Mortgage Insurers from Captive Reinsurance Kickback Suit

by BuckleySandler LLP on 6/12/2012

On May 25, the U.S. District Court for the Eastern District of California dismissed a group of mortgage insurers from a proposed class action over allegations that their reinsurance arrangement with a lender’s affiliate...more

Asset Management Fund Sues Morgan Stanley In Connection With Sale Of $122 Million in RMBS

by Orrick, Herrington & Sutcliffe LLP on 5/8/2012

On May 2, 2012, mutual fund Asset Management Fund and related affiliates filed a summons with notice to commence an action against Morgan Stanley in the Supreme Court of the State of New York seeking $122 million in...more

MetLife Sues Morgan Stanley Over $757 Million in RMBS

by Orrick, Herrington & Sutcliffe LLP on 4/30/2012

On April 25, 2012, Metropolitan Life Insurance Co. (“MetLife”) filed suit in New York State Court against Morgan Stanley. MetLife alleges that Morgan Stanley misrepresented the quality of the mortgage loans underlying RMBS...more

Bayernische Landesbank Files $810 Million RMBS Suit Against Deutsche Bank

by Orrick, Herrington & Sutcliffe LLP on 4/24/2012

On April 19, 2012, Bayerische Landesbank (“Bayern”), a German bank, filed an $810 million suit against Deutsche Bank and certain of its affiliates in New York County Supreme Court. Bayern alleges Deutsche Bank fraudulently...more

Ambac Files $856 Million RMBS Insurance Suit Against Bank of America and Merrill Lynch

by Orrick, Herrington & Sutcliffe LLP on 4/24/2012

On April 16, 2012, bankrupt insurer Ambac Financial Group filed suit against Bank of America as successor to Merrill Lynch, Merrill Lynch, and certain of its affiliates, in New York County Supreme Court. The complaint alleges...more

California Federal Court Partially Dismisses RMBS Claims In Countrywide MDL Action

by Orrick, Herrington & Sutcliffe LLP on 4/24/2012

On April 16, 2012, Judge Mariana R. Pfaelzer of the Central District of California dismissed in part an RMBS action brought by Massachusetts Mutual Life Insurance Co. (“MassMutual”) against Countrywide, JPMorgan, Deutsche...more

New York State Court Holds MBS Insurers Need Not Prove Causal Link Between Misstatements and Losses

by Orrick, Herrington & Sutcliffe LLP on 1/3/2012

On January 3, 2012, Justice Eileen Bransten of the Supreme Court of the State of New York granted partial summary judgment to two insurers suing Countrywide Financial Corporation concerning the insurance of securitizations of...more

Texas Insurance Law Newsbrief - September 19, 2011

by Martin, Disiere, Jefferson & Wisdom, LLP on 9/19/2011

SOUTHERN DISTRICT JUDGE REJECTS FORM ANTI-APPRAISAL ARGUMENTS Federal District Judge Ewing Werlein (of the Houston Division of the Southern District) last week granted a motion to compel appraisal urged by Hartford and, in...more

Washington Court of Appeals Breaks New Ground in Insurers’ Duties When Handling Third-Party Liability Claims Before the Insured is...

by Lane Powell PC - Insurance Coverage Law on 7/12/2011

SYNOPSIS On July 5, the Washington Court of Appeals issued its decision in Tarutis v. Farmers Insurance, concerning an insurer’s duty to accurately adjust claims and settle within policy limits. The Court held that the...more

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Business Torts › Residential Real Estate › Insurance

Mississippi Court Holds D&O Policy Not Triggered By Real Estate Scheme

Superstorm Sandy Is Causing New York and New Jersey Legislators to Reconsider Passing Legislation that Would Establish a Private...

CFPB announces settlement of four enforcement actions against mortgage insurers

New York Obtains Major Lender-Placed Insurance Settlement

The Washington Supreme Court Holds That in First-Party Bad Faith Litigation There Is a Presumption of No Attorney-Client Privilege

Maryland establishes tort duty of care for title companies

MARYLAND TITLE COMPANY CAN BE LIABLE IN NEGLIGENCE FOR TITLE SEARCH ERRORS

Bond Insurer Syncora Sues JPMorgan, Bear Stearns, and EMC Mortgage

Condo Directors Held Personally Liable for Legal Costs - A Follow-up

Judge Denies Washington Mutual’s Motion for Summary Judgment

Federal Court Orders Bayerische Landesbank RMBS Lawsuits Back to State Court

Bank of America Settles Syncora RMBS Action for $375 Million

Syncora Permitted to Prove its Breach Claims Without Showing That Alleged Breaches Caused Loans to Default

California Federal District Court Dismisses Four Mortgage Insurers from Captive Reinsurance Kickback Suit

Asset Management Fund Sues Morgan Stanley In Connection With Sale Of $122 Million in RMBS

MetLife Sues Morgan Stanley Over $757 Million in RMBS

Bayernische Landesbank Files $810 Million RMBS Suit Against Deutsche Bank

Ambac Files $856 Million RMBS Insurance Suit Against Bank of America and Merrill Lynch

California Federal Court Partially Dismisses RMBS Claims In Countrywide MDL Action

New York State Court Holds MBS Insurers Need Not Prove Causal Link Between Misstatements and Losses

Texas Insurance Law Newsbrief - September 19, 2011

Washington Court of Appeals Breaks New Ground in Insurers’ Duties When Handling Third-Party Liability Claims Before the Insured is...

Professional Negligence for Realtors - A Rising Tide?

NY Indemnification Clauses of Contracts Must Meet the “Exacting” Test

New York Panel Rules that Indemnification Clauses of Contracts Must

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