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PHILLIPS v. OSTRER

Nos. 81-1644 to 81-1647.

418 So.2d 1104 (1982)

William PHILLIPS, Merle Ledbetter, Howard Jones, Monroe Phagan, William Starr, Robert Edwards, Russell Warner, Leonard Michael, Buck McClendon, George Lewis, As Trustees of the International Bridge, Structural, and Ornamental Ironworkers Local 272, Annuity Pay Plan, Appellants, v. Louis OSTRER, Michael Burke, Michael Famiglietti, Thomas Kilgalleon, John Nord, Eugene Bowen, Charles Baker, Martin Bessell, and Robert Sells, Individually and As Lead Underwriter for and On Behalf of All Those Certain Underwriters at Lloyds of London, a/K/a Lloyds of London, Ltd., a Foreign Corporation, and Insurance Company of North America, a Foreign Corporation, Appellees.

District Court of Appeal of Florida, Third District.

Rehearing Denied September 28, 1982.

Attorney(s) appearing for the Case

Kurzban & Kurzban and Steven M. Weinger, Miami, for appellants.

Kahn & Gutter and Janis L. Felder and Steven J. Gutter, Fort Lauderdale, Truett & Watkins and Harold Heller, Aronovitz & Weksler and Bernard B. Weksler, Wesley A. Lauer, Blackwell, Walker, Gray, Powers, Flick & Hoehl and James C. Blecke, Welbaum, Zook, Jones & Williams and Betsy L. Warwick and R. Earl Welbaum, John M. Goodman, Miami, for appellees.

Before BARKDULL, SCHWARTZ and BASKIN, JJ.

BARKDULL, Judge.

Appellants, as present trustees of the International Iron Workers Local 272 Pay Plan, brought an action initially on March 13, 1978 against former Trustees of the Plan and an insurance consultant. Amended pleadings added two insurance carriers and ultimately contended that between May 1972 until December, 1974 the former Trustees had committed fraud in paying excess commissions to the insurance consultant by making improper loans of trust funds, by...

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