Fidelity Law Attorneys Fred Statum, Jeffrey S. Price and Justin D. Wear Win Appeal to the U.S. Court of Appeals for the Sixth Circuit

Posted on February 12, 2013 at 5:31 pm

In Forcht Bank, NA v. BancInsure, Inc., Case No. 11-6328 (6th Cir. February 12, 2013), the Sixth Circuit affirmed the district court’s ruling that a financial institution bond provided no coverage for the insured’s claim because the insured did not suffer direct, or even indirect, loss. Manier & Herod attorneys successfully demonstrated that the underlying collateral was essentially worthless from the date it was fraudulently fabricated and, accordingly, no loss was suffered.