Bank Seeks Reimbursement From Insolvent Insurer For $2.5M Posted Collateral

Mealey's (April 13, 2018, 6:57 AM EDT) -- LOS ANGELES — A bank sued the liquidator of an insolvent medical professional liability insurer on April 4 in a California federal court, seeking reimbursement under a letter of credit issued to the insurer to stay enforcement of an underlying $2.5 million medical malpractice judgment (MUFG Union Bank, N.A. v. Steven C. Taylor, No. 18-02772, C.D. Calif.)....