California Court of Appeal

Summary judgment for defendant insurer, on claims for liability coverage against third-party claims of negligence and breach of fiduciary duty claims against plaintiff in underlying municipal bond litigation, is affirmed as defendant had no duty to defend where: 1) the policy definition of "loss" excludes coverage for damages arising out of breach of contract; 2) the policy exclusion for claims or loss arising out of any insured's issuance or endorsement of bonds was applicable; and 3) the policy exclusion for claims or loss arising out of the failure to pay on any financial instrument was also applicable.

Appellate Information

• Decided 10/04/2006
• Published 10/04/2006

Judges

• DOI TODD, Acting P.J.

Court

• California Court of Appeal

Counsel

• For Appellant:
  
• Law Offices of Marlene Greenly and Marlene Greenly for Plaintiff and Appellant Cary Medill.


• For Appellees:
  
• Jeffrey D. Diamond, a Professional Corporation and Jeffrey D. Diamond for Cross-defendant, Cross-complainant and Appellant Stephen P. Goodman., Law Offices of Brian Barry, Brian Barry, Jill Levine, Los Angeles;  Glancy Binkow & Goldberg, Peter A. Binkow, Daniel Hargis, Los Angeles, and Marc L. Godinofor Cross-defendants and Appellants Heritage Bond Class Action Plaintiffs., Ross, Dixon & Bell, Jennifer Mathis, Daniel C. Streeter, Irvine;  Thompson, Loss & Judge, Lewis K. Loss (pro hac vice) for Defendant and Respondent and for Cross-complainant, Cross-defendant and Respondent Westport Insurance Corporation.