Court Nixes Settlement In BofA Insurance Spat

Law360, New York (March 3, 2009, 12:00 AM EST) -- Leery of a “sweetheart deal” against nonsettling parties, a federal judge has put the kibosh on a proposed settlement between Bank of America NA and several insurers embroiled in a coverage dispute.

On Monday, Judge Robert S. Lasnik of the U.S. District Court for the Western District of Washington rejected the proposed settlement, noting the dearth of details about the agreement and possible repercussions for the two third-party defendants that refused to participate in the deal.

While Bank of America reached a prospective settlement with all...
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