Greenwich Off Hook In Law Firm's $8.5M Negligence Case
By Christopher Norton
Law360, Washington (June 20, 2011, 6:43 PM ET) -- Greenwich Insurance Co. and Bacino & Associates LLC agreed in Washington on Monday that the insurer had no duty to cover the law firm, shuttered over criminal fraud charges, in a California negligence action related to $8.5 million in real estate loans.
“Greenwich has no coverage obligations” under four insurance policies covering periods from 2007 through 2011, U.S. District Judge Robert L. Wilkins ruled.
The four policies have now been rescinded, he ruled, and each side will bear its own costs and fees.