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OKADA v. MGIC INDEM. CORP.

No. 85-2501.

823 F.2d 276 (1986)

Glenn K. OKADA, William E. Takabayashi, and Richard A. Cooke, Jr., Plaintiffs-Appellees, v. MGIC INDEMNITY CORP., also known as AMBAC Indemnity Corp. and WMBIC Indemnity Corp., Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

Decided July 31, 1986.

Amended July 8, 1987.

Corrected August 10, 1987.

Attorney(s) appearing for the Case

Wallace A. Christensen, Washington, D.C., for defendant-appellant.

John S. Edmunds, Honolulu, Hawaii, for plaintiffs-appellees.

Before FERGUSON, CANBY and HALL, Circuit Judges.

FERGUSON, Circuit Judge:

Defendant MGIC Indemnity Corporation ("MGIC") appeals the district court's grant of summary judgment in favor of plaintiffs Glenn K. Okada, William E. Takabayashi, and Richard A. Cooke, Jr. ("insureds"), who were insured under a Directors and Officers Errors and Omissions policy issued by MGIC. The district court ruled that MGIC had a duty to pay the defense costs of insureds as those costs came due in lawsuits alleging losses caused by the...

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