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BUSINESS
June 9, 1993 | From Times Staff and Wire Reports
American Medical Wins $12-Million Judgment: A federal jury in Los Angeles awarded American Medical International, a Dallas-based hospital company, $12 million in a bad-faith lawsuit against National Union Fire Insurance Co., according to lawyers for AMI. The lawsuit stemmed from a 1991 case in which AMI had paid $16 million to settle a legal dispute with a major stockholder.
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BUSINESS
December 18, 2001 | From Bloomberg News
KB Home sued to force its insurer to cover at least $11 million in losses from unauthorized trading by an employee at the third-largest U.S. home builder's mortgage unit. KB Home, which recently changed its name from Kaufman & Broad, claims National Union Fire Insurance Co. of Pittsburgh should pay on the comprehensive dishonesty, disappearance and destruction policy it issued to the home builder prior to the discovery of the trades in August 1999.
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BUSINESS
April 23, 1990 | From United Press International
Keating Insurance Hearing: After hearing lawyers' arguments in Los Angeles, U.S. District Judge Stephen Wilson asked for more information before he rules on whether an insurance firm must defend Charles H. Keating Jr., chairman of American Continental Corp., against bondholders' lawsuits. National Union Fire Insurance Co. of Pittsburgh argued that Keating's policy does not cover the suits by bondholders who bought $200 million in uninsured, now-worthless junk bonds.
BUSINESS
June 9, 1993 | From Times Staff and Wire Reports
American Medical Wins $12-Million Judgment: A federal jury in Los Angeles awarded American Medical International, a Dallas-based hospital company, $12 million in a bad-faith lawsuit against National Union Fire Insurance Co., according to lawyers for AMI. The lawsuit stemmed from a 1991 case in which AMI had paid $16 million to settle a legal dispute with a major stockholder.
BUSINESS
December 18, 2001 | From Bloomberg News
KB Home sued to force its insurer to cover at least $11 million in losses from unauthorized trading by an employee at the third-largest U.S. home builder's mortgage unit. KB Home, which recently changed its name from Kaufman & Broad, claims National Union Fire Insurance Co. of Pittsburgh should pay on the comprehensive dishonesty, disappearance and destruction policy it issued to the home builder prior to the discovery of the trades in August 1999.
BUSINESS
June 4, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
A federal appeals court ruled Thursday that the main insurance carrier that covered Charles H. Keating Jr. and other directors and officers of his financial empire did not have to defend them against the maelstrom of civil lawsuits stemming from the 1989 collapse of Lincoln Savings & Loan. But the decision comes too late for National Union Fire Insurance Co. of Pittsburgh.
BUSINESS
September 20, 1990 | JOHN O'DELL, TIMES STAFF WRITER
An insurer that provided professional liability coverage to American Continental Corp. must pay to defend financier Charles H. Keating Jr. in civil suits brought by investors who bought the company's now worthless bonds, a federal judge has ruled. U.S. District Judge Stephen V. Wilson in Los Angeles ruled Tuesday that National Union Fire Insurance Co. of Pittsburgh would have to pay the court costs for Keating, former chairman of American Continental, and other company officers.
BUSINESS
February 26, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Citing his insurance carrier's refusal to pay his legal bills, former Lincoln Savings & Loan owner Charles H. Keating Jr. has told a federal judge that he will not defend himself against civil claims that he defrauded small investors of more than $250 million. In a letter to U.S. District Court Judge Richard M. Bilby in Tucson, Stephen C. Neal, Keating's lawyer, said his client "will be unable to conduct any defense" in the civil trial.
BUSINESS
May 18, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
A federal judge ruled Thursday that an insurance carrier must defend Charles H. Keating Jr. and other American Continental Corp. officials in litigation brought by the company's investors. U.S. District Judge Stephen V. Wilson in Los Angeles also ruled that the "potential liability" of Keating and others stemming from the lawsuits is covered under a policy issued by National Union Fire Insurance Co. of Pittsburgh.
BUSINESS
February 26, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Citing his insurance carrier's refusal to pay any more of his legal bills, former Lincoln Savings & Loan owner Charles H. Keating Jr. has told a federal judge that he will not defend himself against civil claims that he defrauded small investors in his company of more than $250 million. In a letter to U.S. District Judge Richard M. Bilby in Tucson, Keating's lawyer said that "Mr.
BUSINESS
June 4, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
A federal appeals court ruled Thursday that the main insurance carrier that covered Charles H. Keating Jr. and other directors and officers of his financial empire did not have to defend them against the maelstrom of civil lawsuits stemming from the 1989 collapse of Lincoln Savings & Loan. But the decision comes too late for National Union Fire Insurance Co. of Pittsburgh.
BUSINESS
February 26, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Citing his insurance carrier's refusal to pay any more of his legal bills, former Lincoln Savings & Loan owner Charles H. Keating Jr. has told a federal judge that he will not defend himself against civil claims that he defrauded small investors in his company of more than $250 million. In a letter to U.S. District Judge Richard M. Bilby in Tucson, Keating's lawyer said that "Mr.
BUSINESS
February 26, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Citing his insurance carrier's refusal to pay his legal bills, former Lincoln Savings & Loan owner Charles H. Keating Jr. has told a federal judge that he will not defend himself against civil claims that he defrauded small investors of more than $250 million. In a letter to U.S. District Court Judge Richard M. Bilby in Tucson, Stephen C. Neal, Keating's lawyer, said his client "will be unable to conduct any defense" in the civil trial.
BUSINESS
September 20, 1990 | JOHN O'DELL, TIMES STAFF WRITER
An insurer that provided professional liability coverage to American Continental Corp. must pay to defend financier Charles H. Keating Jr. in civil suits brought by investors who bought the company's now worthless bonds, a federal judge has ruled. U.S. District Judge Stephen V. Wilson in Los Angeles ruled Tuesday that National Union Fire Insurance Co. of Pittsburgh would have to pay the court costs for Keating, former chairman of American Continental, and other company officers.
BUSINESS
August 6, 1990 | From Times Staff and Wire Reports
First Interstate Fire: An insurance company's lawsuit asked the U.S. District Court to decide which insurers must defend and pay settlement or judgment costs of lawsuits stemming from a fire at the First Interstate Bank building. The suit, filed by Continental Insurance Co., claims that National Union Fire Insurance Co.
BUSINESS
May 18, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
A federal judge ruled Thursday that an insurance carrier must defend Charles H. Keating Jr. and other American Continental Corp. officials in litigation brought by the company's investors. U.S. District Judge Stephen V. Wilson in Los Angeles also ruled that the "potential liability" of Keating and others stemming from the lawsuits is covered under a policy issued by National Union Fire Insurance Co. of Pittsburgh.
BUSINESS
January 22, 2004 | From Bloomberg News
WorldCom Inc. asked a bankruptcy judge for permission to give former Chief Executive Bernard J. Ebbers and ex-Chief Financial Officer Scott D. Sullivan half of a $15-million insurance settlement to help them pay legal defense costs. WorldCom reached a settlement with National Union Fire Insurance Co. on executive liability coverage in November. The insurance was effective in 2002, when an $11-billion accounting scandal forced WorldCom into the biggest bankruptcy filing in U.S. history.
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