Tenn. Court Nixes Regions Bid For Insurance Payout

Law360, New York (February 23, 2009, 12:00 AM EST) -- Rocked by millions of dollars in losses resulting from an alleged mortgage banking scandal and several lawsuits, Regions Financial Corp. has lost its attempt to revive a Tennessee state court case against excess insurance companies, which have declined to help the banking firm shoulder the burden.

On Thursday, a three-judge panel of the Tennessee Court of Appeals affirmed a lower court’s decision to throw out the case on the basis of res judicata, finding that the banking firm has already attempted to try the case in...
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