A summary of Southern California-related business litigation developments during the past week.
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Keating, Lawyers Sue Insurer: Charles H. Keating Jr. and his lawyers, Quinn, Kulley & Morrow, sued a London insurance syndicate to try to recover $378,011 in legal costs stemming from last year’s collapse of Keating’s American Continental Corp. and its Lincoln Savings & Loan unit. The Los Angeles Superior Court case says 12 insurers and a lead underwriter provided directors’ and officers’ liability coverage to American Continental. In a separate suit, a federal judge ruled in May that National Union Fire Insurance Co. of Pittsburgh must reimburse Keating and other American Continental officials for legal costs associated with the American Continental collapse. National Union had issued a comprehensive general liability policy to Keating and the others. (Filed May 31, 1990. Case No. BC002337)
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