Borrowers: Counterclaims Against Insurer In Rehabilitation Should Proceed On Merits

Mealey's (December 4, 2020, 1:08 PM EST) -- RALEIGH, N.C. — Three borrowers, which are named in separate suits over their alleged breach of loan agreements, filed identical opposition briefs on Dec. 2 telling a North Carolina federal court that their bad faith and breach of fiduciary duty counterclaims against an insurer in rehabilitation satisfy minimal pleading requirements to overcome the dismissal stage (Colorado Bankers Life Insurance Company v. Kite Asset Management, LLC, No. 20-371; Colorado Bankers Life Insurance Company v. Summerville Asset Management, LLC, et al., No. 20-432; Colorado Bankers Life Insurance Company v. TAC Investments, LLC, No. 20-453, E.D. N.C.)....