United States Seventh Circuit
First Nat'l Bank of Manitowoc v. Cincinnati Ins. Co., 05-4762
In a suit by a bank to recover on its insurance policy after a series of fraudulent loans went into default, summary judgment for the bank is affirmed where the terms of the policy, which was similar but not identical to an outdated version of the standard Bankers Blanket Bond, covered the losses in question. The district court also did not abuse its discretion in awarding prejudgment interest, and there was no clear error in its denial of a statutory interest rate.
Appellate Information
- Decided 05/11/2007
- Published 05/11/2007
Judges
- SYKES, Circuit Judge., Before ROVNER, EVANS, and SYKES, Circuit Judges.
Court
- United States Seventh Circuit
Counsel
- For Appellees:
- Nathaniel Cade, Jr. (argued), Michael Best & Friedrich, Milwaukee, WI, for Plaintiff-Appellee/Cross-Appellant., Nancy K. Tordai, Victor C. Peters (argued), Hanson Peters Nye, Barrington, IL, for Defendant-Appellant/Cross-Appellee.