Allied Can't Ditch Securities Claims Coverage Suit

Law360, New York (May 9, 2011, 4:16 PM EDT) -- A judge on Monday declined to toss a lawsuit Philadelphia Indemnity Insurance Co. filed against Allied Mortgage and Financial Corp. in Florida to free itself from covering the insolvent company in investor actions asserting negligent misrepresentation and other claims.

U.S. District Judge Adalberto Jordan disagreed with Allied and other defendants that the declaratory judgment suit should be dismissed because of what they argued were parallel proceedings in Florida state court, namely the underlying investor actions seeking damages over Allied's alleged mishandling of investments and loans....
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Philadelphia Indemnity Insurance Company v Allied


Case Number

0:10-cv-61849

Court

Florida Southern

Nature of Suit

Insurance

Judge

Federico A. Moreno

Date Filed

October 4, 2010

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.