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...

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