California Court of Appeal

A corporation had a duty to indemnify its member escrow agents for their losses suffered as a result of fraudulent misappropriation of trust obligations, where the subject transactions involved escrows; appropriation of funds held by a receiver in escrow amounted to one reimbursable loss suffered.

Appellate Information

• Decided 06/26/2002
• Published 06/26/2002

Judges

• COOPER, J.*

Court

• California Court of Appeal

Counsel

• For Appellant:
  
•  Robertson, Vick & Capella, Michael G. Evans;  and Gascou, Gemmill & Thornton and William P. Gemmill, Los Angeles, for Real Party in Interest and Appellant., Wolff, Ellis & Clausen, Gerald Clausen, San Francisco, and Joan Wolff, Los Angeles, for Escrow Institute of California as Amicus Curiae on behalf of Real Party Interest and Appellant.


• For Appellees:
  
• Buchalter, Nemer, Fields & Younger, Holly J. Fujie, Donald Lee, Los Angeles, Michael A. Cabotaje, San Francisco;  Pasternak, Pasternak & Patton and David J. Pasternak, Los Angeles, for Plaintiff and Respondent., No appearance for Defendant and Respondent.