American Southwest Mortgage Corp., et al v. Continental Casualty Company
Case Number:
22-6071
Court:
Nature of Suit:
Companies
Sectors & Industries:
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November 15, 2023
Lenders Want 10th Circ. Redo In Insurance Policy Dispute
Two lenders asked the Tenth Circuit to reconsider a ruling that foiled their ability to collect $2 million under an accounting firm's insurance policy, saying a panel improperly found that three audits the firm conducted that failed to uncover a mortgage company's fraud are interrelated.
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October 17, 2023
10th Circ. Finds Audits Are 1 Claim Under Insurance Policy
Three audits conducted by an accounting firm that failed to uncover a mortgage company's fraud are interrelated and thus constitute one claim under the firm's insurance policy, a Tenth Circuit panel said, partially reversing a ruling allowing a pair of lenders to collect $2 million from the firm's insurer.