Banks Challenge $7M Attorney Fees Award For Insolvent Insurers’ Receiver

Mealey's (May 28, 2020, 11:45 AM EDT) -- ST. LOUIS — Two banks argue in their May 27 opening brief to the Eighth Circuit U.S. Court of Appeals that a lower court ignored Missouri law to award attorney fees of $7,005,337 to the receiver for insolvent funeral insurers and state insurance guaranty associations in their dispute regarding allegations over the mishandling of the insurers’ funds (Jo Ann Howard & Associates P.C., et al. v. National City Bank and PNC Bank, N.A., No. 20-1438, 8th Cir.)....