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U.S. FIDELITY & GUAR. CO. v. PLANTERS BANK & TRUST

No. 95-60171.

77 F.3d 863 (1996)

UNITED STATES FIDELITY AND GUARANTY COMPANY, Plaintiff-Counter Defendant-Appellee, Cross-Appellant, v. PLANTERS BANK & TRUST COMPANY, Defendant-Counter Claimant-Appellant, Cross-Appellee.

United States Court of Appeals, Fifth Circuit.

March 18, 1996.

Attorney(s) appearing for the Case

Kenneth G. Perry, Jackson, MS, for U.S. Fidelity & Guar. Co.

Lawrence J. Franck, Leslie Joyner Bobo, Butler, Snow, O'Mara, Stevens & Cannada, Jackson, MS, William Dean Belk, Jr., Indianola, MS, for Planters Bank & Trust Co.

Before KING, STEWART and PARKER, Circuit Judges.

STEWART, Circuit Judge:

United States Fidelity and Guaranty Company, Inc., (USF & G) executed and delivered a Financial Institution Bond to Planters Bank & Trust Company. This dispute arises out of a claim by Planters on the Bond to recover for losses incurred as a result of a forgery/kiting scheme. USF & G denied the claim and immediately filed a declaratory judgment action against Planters. Planters answered and counterclaimed for the amount of its losses...

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