Bank Asks 6th Circ. To Revive $75M FCA Deal Coverage Battle

Law360, New York (October 11, 2017, 6:24 PM EDT) -- First Tennessee Bank NA Tuesday asked the Sixth Circuit to overturn a district court’s finding that it provided its insurers with too little notice for them to pay out $75 million to cover part of the bank's 2015 $212.5 million False Claims Act settlement.

The bank said U.S. District Judge Sheryl H. Lipman had wrongly found an April 2014 email from the Department of Justice was a demand to settle allegations that the bank had knowingly originated and underwritten substandard mortgage loans and that primary insurer...
To view the full article, register now.