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TRW TITLE INS. v. SECURITY UNION TITLE INS.

Nos. 97-2226, 97-3155.

153 F.3d 822 (1998)

TRW TITLE INSURANCE COMPANY, a corporation, on its own behalf and as a subrogee of its insureds, Plaintiff-Appellant, v. SECURITY UNION TITLE INSURANCE COMPANY, a corporation, Defendant-Appellee. and TRW TITLE INSURANCE COMPANY, Plaintiff, v. SECURITY UNION TITLE INSURANCE COMPANY, Defendant, Third-Party Plaintiff-Appellee, v. LIBERTY NATIONAL TITLE INSURANCE COMPANY, d/b/a Liberty Title Insurance Company, a corporation, Third-Party Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided September 1, 1998.

Rehearing Denied October 13, 1998.

Attorney(s) appearing for the Case

Joshua G. Vincent, William J. Holloway (argued), Michael J. Leech, Hinshaw & Culbertson, Chicago, IL, for Plaintiff-Appellant.

Thomas A. Doyle (argued), Barrie L. Brejcha, Adriane W. Buckland, Baker & McKenzie, Chicago, IL, for Defendant-Appellee.

William J. Holloway (argued), Hinshaw & Culbertson, Chicago, IL, for Plaintiff.

Gerald Haberkorn (argued), Lowis & Gellen, Chicago, IL, for Defendant-Appellant.

Thomas A. Doyle (argued), Baker & McKenzie, Chicago, IL, for Defendant-Appellee.

Before COFFEY, KANNE, and EVANS, Circuit Judges.

TERENCE T. EVANS, Circuit Judge.

During the 1980's some said greed was good. If so, then title insurance agent Ed Wells was a saint, for beginning in 1986 he stole upwards of $3 million from the closing escrow accounts he administered. The 1990's find Wells in prison (apparently for other, unrelated crimes) and the two title insurers he represented during his thievery —Security Union Title Insurance Company and TRW Title Insurance Company, who, at different...

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