General Star Won't Have to Defend FCA Suit, Judge Says

Law360, New York (February 7, 2014, 4:04 PM EST) -- An Illinois federal judge on Thursday ruled General Star National Insurance Co. has no duty to cover a bank appraisal firm accused in a whistleblower lawsuit of defrauding the Federal Deposit Insurance Corp. by overstating the value of properties.

In the underlying qui tam suit Kenneth Conner, a former Mutual Bank of Harvey employee, alleged the bank’s appraisal firm, Adams Value Corp., and AVC’s president Douglas Adams — as well as several bank officials — conspired to inflate the estimated value of properties that secured loans...
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