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AMERICAN CAS. CO. v. UNITED SOUTHERN BANK

No. 90-7028.

950 F.2d 250 (1992)

AMERICAN CASUALTY COMPANY, Plaintiff-Appellant, v. UNITED SOUTHERN BANK, United Southern Corporation, and Omnibank of Mantee, Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied February 11, 1992.

Attorney(s) appearing for the Case

William B. Monk, Emmett C. Sole, Stockwell, Sievert, Viccellio, Clements & Shaddock, Lake Charles, La. and David R. Hunt, Ross, Hunt, Spell & Ross, Clarksdale, Miss., for plaintiff-appellant.

John H. Dunbar and Jack F. Dunbar, Holcomb, Dunbar, Connell, Chaffin & Willard, Oxford, Miss., for United Bank and United Corp.

Grady F. Tollison, Tollison & Alexander, Oxyford, Miss., for Omnibank of Mantee.

Before CLARK, Chief Judge, JONES, Circuit Judge, and PARKER, District Judge.

CLARK, Chief Judge:

I.

American Casualty Company (American Casualty) appeals the district court's grant of summary judgment in favor of United Southern Bank, United Southern Corporation, and Omnibank of Mantee. We vacate and remand.

II.

American Casualty issued a directors and officers liability insurance policy to United Southern Corporation (USB). The policy insured the USB directors and officers against loss that they became legally...

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