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PHOENIX SAVINGS & LOAN, INC. v. AETNA CASUALTY & SUR. CO.

No. 13551.

427 F.2d 862 (1970)

PHOENIX SAVINGS AND LOAN, INC., Appellant, v. The AETNA CASUALTY AND SURETY COMPANY, Appellee.

United States Court of Appeals, Fourth Circuit.

Decided June 8, 1970.

Attorney(s) appearing for the Case

Clarence W. Sharp, Herbert H. Rosenbaum, Baltimore, Md., for appellant.

William B. Kempton, Baltimore, Md., Elmer W. Beasley, Hartford, Conn., for appellee.

Before SOBELOFF, BOREMAN and CRAVEN, Circuit Judges.

CRAVEN, Circuit Judge.

Phoenix Savings and Loan, Inc., successor to Phoenix Savings and Loan Association, Inc., brought this action against the Aetna Casualty and Surety Company in the Superior Court of Baltimore City, Maryland, seeking indemnity under a Savings and Loan Blanket Bond, Standard Form No. 22, revised to September 1960, for alleged losses sustained by Phoenix through the defalcations of its officers, employees...

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