FDIC Scores Partial Win Over Title Insurer In Post-Trial Dispute

Law360 (December 3, 2019, 10:09 PM EST) -- An Illinois federal judge sided with the Federal Deposit Insurance Corp. Tuesday in determining a jury didn't need to consider the defense of contributory negligence when it found Chicago Title Insurance Co. breached its fiduciary duty to Founders Bank in a real estate flip case.

U.S. District Judge Andrea R. Wood said Chicago Title cannot seek a comparative negligence reduction to roughly $946,000 in damages because Illinois courts would not recognize that as a defense to a breach of fiduciary duty claim. The FDIC had brought claims for breach of contract, breach of fiduciary duty, negligence and negligent misrepresentation against the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!