Wells Fargo Says 2 Insurers Owe It $19.1M

Law360, New York (May 14, 2009, 12:00 AM EDT) -- A division of Wells Fargo Bank NA has sued two insurance companies, claiming they owe the financial giant $19.1 million in a trade credit insurance case involving risk associated with foreign business transactions.

The bank's amended complaint, filed in the U.S. District Court for the District of Colorado, names insurers Continental Casualty Co. and Coface of North America Inc. as defendants. The original complaint was filed April 30.

The amended complaint was lodged after the court ordered Wells Fargo to establish diversity in its lawsuit. The...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.