United States Third Circuit

Summary judgment for beneficiaries-lenders in a suit against an insurer for coverage of claims made on contracts to insure the repayment of principal and interest on defaulted student loans is reversed in part where the insurer raised a triable issue as to whether all of the losses claimed by the beneficiaries were covered under its policies. (Amended)

Appellate Information

• Argued 01/19/2005
• Decided 03/30/2006
• Published 03/31/2006

Judges

• Before ALITO, McKEE, and SMITH, Circuit Judges.

Court

• United States Third Circuit

Counsel

• For Appellant:
  
• Lawrence C. Ashby, Philip Trainer, Jr., Ashby & Geddes, Wilmington, Delaware, Michael H. Barr (Argued), Kenneth J. Pfaehler, Sonnenschein Nath & Rosenthal LLP, New York, New York, for Appellant.


• For Appellees:
  
• Ronald S. Rauchberg (Argued), Steven E. Obus, Andre G. Castaybert, Frank Scibilia, Proskauer Rose LLP, New York, New York, David C. McBride, John W. Shaw, Young Conaway Stargatt & Taylor, LLP, Wilmington, Delaware, for Appellees MBIA Insurance Corporation and Wells Fargo Bank Minnesota, N.A., Kevin R. Shannon, Potter Anderson & Corroon LLP, Wilmington, Delaware, David H. Pittinsky (Argued), Lawrence D. Berger, Ballard Spahr Andrews & Ingersoll, LLP, Philadelphia, Pennsylvania, for Appellee PNC Bank, N.A., Joseph H. Huston, Jr. (Argued), Thomas G. Whalen, Jr., Stevens & Lee, P.C., Wilmington, Delaware, for Appellee Wilmington Trust of Pennsylvania.