Case Summary: 09-cv-2516
Plaintiff, Brecek & Young Advisors, Inc., brings an action against Defendant, Lloyds of London Syndicate 2003, for breach of contract. Defendant issued an insurance policy to Plaintiff, which provided insurance coverage for third-party claims against Plaintiff in the United States. The policy provided that Defendant would indemnify Plaintiff for any claim against it, so long as Plaintiff first paid a retention fee. The policy also provided that multiple claims against Plaintiff would be combined into one claim, if the claims arose from the same wrongful act of Plaintiff.
Plaintiff was named a defendant in another lawsuit, labeled as the “Wahl Arbitration”, in which 26 claimants alleged damages resulting from Plaintiff’s services. Plaintiff incurred substantial debt as a result of the lawsuit. Defendant paid part of the debt, but alleges that it cannot combine the claims of the 26 plaintiffs from the Wahl Arbitration into one claim because they did not arise from the same wrongful act of Plaintiff. Plaintiff disagrees, and brings this action to compel Defendants to pay the remaining amount based on reliance on the terms of the contract.
In this video, the Court hears oral arguments from Defendant and Plaintiff in a bench trial. Both parties bring evidence to the Court to support their positions. Plaintiff calls one witness, Assistant General Counsel for Plaintiff, to testify, and Defendant also cross-examines this witness. Defendant calls its own witness, a retired insurance agent, to question and testify. The Court will issue a written decision at a future time.
- Complaint filed 10/5/2009 (Doc #1)
- Answer filed 6/1/2010 (Doc #38)
- Judgment entered 12/15/2011 (Doc #113)
- Appeal filed 1/12/2012 (Doc #114)
Case-related documents, including those referenced above, are available via the Public Access to Court Electronic Records (PACER) service. For more information, visit Pacer.gov.
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