Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

Florida Department of Insurance v. Chase Bank of Texas National Association

The Florida Department of Insurance, as a trustee in bankruptcy, does not have standing to bring claims against a third party on behalf of creditors of the insolvent corporation.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Appeals from the United States District Court for the Northern District of Texas

The Florida Department of Insurance (Florida), receiver for Western Star Insurance Company, appeals the district court’s order granting Chase Bank of Texas’s Motion for Summary Judgment, and denying Florida’s Cross-Motion for Summary Judgment. The district court dismissed Florida’s claims for fraud and breach of fiduciary duty against Chase Bank, who was trustee of a trust established to (1) allow Western Star to conduct business in California, and (2) provide assets as security for policyholders. Because Florida lacks standing to sue on behalf of the policyholders, and because it has not raised a disputed issue of material fact with respect to the claims raised on behalf of Western Star, we affirm the judgment of the district court.

BACKGROUND

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
GlobeSt. Multifamily Fall 2024
October 15, 2024
Los Angeles, CA

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!


Learn More
California Legal Awards 2024
October 15, 2024
Los Angeles, CA

Law.com celebrates the California law firms and legal departments driving the state's dynamic legal landscape.


Learn More
Texas Legal Awards 2024
October 15, 2024
Dallas, TX

The Texas Lawyer honors attorneys and judges who have made a remarkable difference in the legal profession in Texas.


Learn More
Go to Events Go to Webcasts
Associate Attorney

McDermott Law, LLC, a boutique Plaintiffs-focused firm located in the Denver Tech Center, has an opening for a full-time associate attorney....


Apply Now ›
Associate Attorney

Beitchman & Zekian, P.C. seeks a motivated and ambitious attorney with 2 to 4 years of civil and business litigation experience for its ...


Apply Now ›
Director of Personal Injury

Job Summary: The Director of Operations will be responsible for the strategic and operational management of the firm's Personal Injury pract...


Apply Now ›
Go to Lawjobs