$7M Attorney Fees Award For Insurers’ Receiver Was In Error, Banks Assert

Mealey's (July 16, 2020, 12:39 PM EDT) -- ST. LOUIS — Two banks argue in a July 14 reply brief to the Eighth Circuit U.S. Court of Appeals that a lower court erred in awarding $7,005,337 in attorney fees to the receiver for insolvent insurers and state insurance guaranty associations in their fraud lawsuit following a $99,497,290.24 judgment because there were no “special circumstances” (Jo Ann Howard & Associates P.C., et al. v. National City Bank and PNC Bank, N.A., No. 20-1438, 8th Cir.)....