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NATIONAL UNION FIRE INS. v. F.D.I.C.

837 S.W.2d 373 (1992)

NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURG, PA., Plaintiff-Appellee, v. FEDERAL DEPOSIT INSURANCE CORPORATION, et al., Defendants-Appellants, Estate of B. Ray Thompson, Defendant-Appellant.

Supreme Court of Tennessee, at Knoxville.

July 13, 1992.

Attorney(s) appearing for the Case

Raymond R. Murphy, Jr., Marcia J. Meredith, Douglas T. Johnson, Miller & Martin, Chattanooga, for defendants-appellants, F.D.I.C.

Robert S. Young, Archie R. Carpenter, Knoxville, for defendant-appellant, Estate of B. Ray Thompson.

Robert J. Warner, Jr., H. Frederick Humbracht, Jr., Dearborn & Ewing, Nashville, Kenneth A. Sagat, Thomas Hanlon, D'Amato & Lynch, New York City, for plaintiff-appellee.

OPINION

TIPTON, Special Justice.

This case arises from the failure of the United American Bank in Knoxville, Tennessee (UAB-K). The Federal Deposit Insurance Corporation (FDIC) and the estate of B. Ray Thompson, Sr., seek to enforce a director and officer liability policy issued by National Union Fire Insurance Company by which National Union agreed to indemnify UAB-K directors and officers for losses, as legal obligations, incurred by them resulting from...

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