International Insurance Co. v. McMullan, U.S. District Court, S.D. MS, CA No. J84-0760
Represented former bank director in a claim and counterclaim for coverage under a D&O policy, after the FDIC closed the bank and threatened officers and directors with suit. The insurer filed a declaratory judgment action, and directors counterclaimed for coverage. The case was tried to the judge for three weeks in 1990 and involved significant issues of coverage, including the effect and enforceability of certain exclusions added upon renewal. Before any decision, the directors reached a favorable and comprehensive settlement with insurer and FDIC.