Insurance – May 24, 2012

by Katten Muchin Rosenman LLP on 5/15/2012

The U.S. Court of Appeals for the Fifth Circuit last week held that any state claim related to the Federal Emergency Management Agency’s (FEMA) “Write Your Own” (WYO) flood insurance program is preempted by federal law if it...more

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

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

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

by Bilzin Sumberg Baena Price & Axelrod LLP on 4/19/2012

Misrepresentation? We have long held the view that investors’ buy-back demands based on allegedly inaccurate appraisals are about the weakest type of buy-back demand imaginable. Think about it: the two fundamental...more

by Kilpatrick Townsend on 4/17/2012

It has come to our attention that Fidelity National Title Insurance Company, First American Title Insurance Company, Stewart Title Insurance Company and Old Republic Title Insurance Company will no longer issue title...more

by Orrick, Herrington & Sutcliffe LLP on 4/16/2012

On April 5, 2012, a five-judge panel for the New York’s First Department intermediate appellate court affirmed a lower court’s ruling that denied Bank of America’s motion to sever successor liability claims brought against it...more

by Doron Eghbali on 3/27/2012

Title insurance is deemed a prerequisite in myriad of real estate transactions including but not limited to purchasing a real property. Buyers must usually acquire title insurance as lenders require acquisition of such...more