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LEUCADIA, INC. v. RELIANCE INS. CO.

No. 1333, Docket 88-7197.

864 F.2d 964 (1988)

LEUCADIA, INC., Plaintiff-Appellant, v. RELIANCE INSURANCE COMPANY, Defendant-Third-Party Plaintiff-Appellee, v. Edward H. HELMKE, Third-Party Defendant.

United States Court of Appeals, Second Circuit.

Decided December 22, 1988.

As Amended on Denial of Rehearing January 18, 1989.

Attorney(s) appearing for the Case

Raymond Fitzgerald, New York City (Butler, Fitzgerald & Potter, New York City, Andrew W. Sidman, David J. McCarthy, of counsel), for plaintiff-appellant.

Philip Schlau, New York City (Newman Schlau Fitch & Burns, P.C., New York City, Abraham S. Altheim, Jan Kevin Myers, of counsel), for defendant-third-party plaintiff-appellee.

Perry S. Reich, Lindenhurst, N.Y. (Schapiro and Reich, Lindenhurst, N.Y., Steven M. Schapiro, of counsel), for third-party defendant.

Before LUMBARD, MINER, Circuit Judges, and CONNER, District Judge.

LUMBARD, Circuit Judge:

Leucadia, Inc. appeals from a judgment of the Southern District entered on February 5, 1988, Daronco, J., pursuant to a jury verdict in favor of Reliance Insurance Company and third-party defendant Edward H. Helmke. Leucadia, which is in the business of factoring and investing, brought this action to recover $10 million pursuant to two fidelity bonds issued to it by Reliance, because of losses totaling over $15 million, allegedly sustained...

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