Lehman Unit Not Owed Coverage In $15M RE Suit

Law360, New York (July 29, 2013, 1:54 PM EDT) -- A federal judge on Thursday declined to rule that Fidelity National Title Insurance Co. owes coverage to a Lehman Brothers Holdings Inc. subsidiary in a $15 million lawsuit over a failed real estate investment, saying the insurer has already provided a defense to the company.

Lehman Commercial Paper Inc. had sought coverage from Fidelity after Oak Valley Partners LLP filed a $15 million claim when a California real estate investment went bankrupt during the financial crisis. LCPI sued Fidelity in April 2012 after the insurer agreed...
To view the full article, register now.
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.