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UNITED COMMERCIAL INS. v. PAYMASTER CORP.

No. 90-56108.

962 F.2d 853 (1992)

UNITED COMMERCIAL INSURANCE SERVICE, INCORPORATED, d/b/a United Checkwriter Services; Burton D. Rayden; Jeffrey L. Rayden; Joel Rayden, Plaintiffs, v. The PAYMASTER CORPORATION, Defendant. The PAYMASTER CORPORATION, Counterclaim Appellant, v. Burton D. RAYDEN, et al., Counterclaim Defendants, and American Bankers Insurance Company of Florida, Counterclaim Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided April 14, 1992.

Attorney(s) appearing for the Case

Dennis M. Perluss, Hufstedler, Kaus & Ettinger, Los Angeles, Cal., for appellant.

James F. Jorden, Jorden, Schulte & Burchette, Miami, Fla., for appellee.

Before FLETCHER, W. NELSON, and BRUNETTI, Circuit Judges.

D.W. NELSON, Circuit Judge:

Appellant Paymaster Corp. was awarded a judgment in excess of $11 million in compensatory and punitive damages against several defendants, including appellee American Bankers Insurance Corp. (American). Paymaster settled with all defendants other than American for $1.7 million in compensatory damages. Concurrent with this settlement, Paymaster executed a partial satisfaction of judgment in favor of

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