United States Fifth Circuit
Citibank Texas, N.A. v. Progressive Cas. Ins. Co., 07-10142
In a suit brought by Citibank against Progressive insurance as the issuer of a fidelity bond, claiming it should cover a loss Citibank sustained in a prior state court action filed against it by a depositor on a claim of unauthorized endorsement, summary judgment for Citibank on its breach of contract claim is affirmed where the district court correctly found that Progressive was bound by a state court's determination of Citibank's liability to its depositor for the amount of the post-judgment settlement reached between the bank and its depositor.
Appellate Information
- Decided 11/21/2007
- Published 11/26/2007
Judges
- WIENER, Circuit Judge:1, Before WIENER, DeMOSS, and PRADO, Circuit Judges.
Court
- United States Fifth Circuit
Counsel
- For Appellant:
- Edward Graham Gallagher, Surety & Fid. Ass'n of America, Washington, DC, for Amicus Curiae, Surety & Fid. Ass'n of America.
- For Appellees:
- Stuart Mallory Reynolds, Jr. (argued), Winstead, PC, Dallas, TX, for Plaintiff-Appellee., Paul D. Schoonover (argued), Kleiman, Lawrence, Baskind, Fitzgerald, LLP, Dallas, TX, for Defendant-Appellant.