Sunwest Bank Awarded $5.8 Million: Sunwest Bank, a small subsidiary of West Coast Bancorp, was awarded $5.8 million in a suit against Lloyd’s of London for breach of its insurance contract. The award by a federal jury includes punitive damages of $2.5 million against Lloyd’s. Sunwest, a five-branch bank based in Orange County, sued in 1986 after Lloyd’s rejected a $1.3-million insurance claim. (Case No. 86-7190. Verdict on Nov. 26, 1990.)
A summary of Southern California-related business litigation developments during the past week.
From United Press International