Panel Affirms Dismissal Of Estate’s Suit Seeking Insurance Money From Lenders

Mealey's (August 9, 2019, 12:55 PM EDT) -- NEW ORLEANS — A Fifth Circuit U.S. Court of Appeals panel on Aug. 6 affirmed the dismissal of an estate’s lawsuit that sought to obtain insurance proceeds for flood damages to a home from the mortgage lenders on the property, holding that the security instrument on the mortgage note states that the proceeds would be released only once the necessary repairs are made (Estate of Bonell Rashti v. Bank of America, N.A., et al., No. 18-20539, 5th Cir.)....