6th Circuit Affirms No Coverage Ruling For $212M FCA Settlement
Mealey's (July 11, 2018, 2:07 PM EDT) -- CINCINNATI — The Sixth Circuit U.S. Court of Appeals on July 10 affirmed a lower federal court’s ruling that denied a bank insured $75 million in insurance coverage for a $212.5 million settlement of an underlying False Claims Act (FCA) investigation into its underwriting of government-backed mortgages (First Horizon National Corporation, et al. v. Houston Casualty Co., et al., Nos. 17-5767 and 5844, 6th Cir., 2018 U.S. App. LEXIS 18684).
(Opinion available. Document #13-180719-003Z.)
In June 2015, First Horizon National Corp. and its subsidiary First Tennessee...