Judge: Coverage Exists For $71M Claim Against Bank’s Former Directors, Officers
(March 25, 2016, 12:07 PM EDT) -- ATLANTA — A Georgia federal judge on March 18 found that primary and excess directors and officers liability insurers have a duty to defend against a $71 million lawsuit that the receiver of an insolvent bank brought against the bank’s former directors and officers (Federal Deposit Insurance Corporation, as receiver for Silverton Bank v. Tom A. Bryan, et al., No. 11-2790, N.D. Ga.; 2016 U.S. Dist. LEXIS 35090).
(Opinion and order available. Document #13-160407-012Z.)
The Federal Deposit Insurance Corp., as receiver of the now-insolvent Silverton Bank,...