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...
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