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
Women, Influence & Power in Law US Awards 2024
September 24, 2024
Chicago, IL

Women, Influence & Power in Law Awards honors women lawyers who have made a remarkable difference in the legal profession.


Learn More
Women, Influence & Power in Law (WIPL) 2024
September 23, 2024 - September 25, 2024
Chicago, IL

WIPL is the original global forum facilitating women-to-women exchange on leadership and legal issues.


Learn More
New England Legal Awards 2024
September 26, 2024
Boston, MA

The New England Legal Awards serves as a testament to the outstanding contributions and achievements made by legal professionals.


Learn More
Go to Events Go to Webcasts
ASSOCIATE ATTORNEY - Philadelphia

Philadelphia Plaintiff litigation firm seeks an associate attorney with at least 2 years' experience to join our team handling personal inju...


Apply Now ›
Clerk of the Panel

Position OverviewThe United States Judicial Panel on Multidistrict Litigation is accepting applications for the full-time, permanent positio...


Apply Now ›
Associate

A prominent AV-rated Education Law firm seeks an associate with 5+ years experience. The role will primarily involve advice and counsel in ...


Apply Now ›
Go to Lawjobs