IndyMac Trustee Takes Insurers' $80M Win To 9th Circ.

Law360, New York (July 9, 2012, 2:47 PM EDT) -- IndyMac Bancorp Inc.'s bankruptcy trustee is asking the Ninth Circuit to scrutinize a recent ruling that closed the door to $80 million of coverage for securities lawsuits targeting former IndyMac directors and officers, according to an appeals notice posted Friday.

The move comes after a California federal judge agreed with a coalition of insurers that coverage for securities litigation against former executives at failed mortgage lender IndyMac and its subsidiary IndyMac Bank FSP was only available under one set of insurance policies worth $80 million for...
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