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CHATTANOOGA BANK ASSOCIATES v. FIDELITY AND DEPOSIT CO. OF MD.

No. 1:03-CV-219.

301 F.Supp.2d 774 (2004)

CHATTANOOGA BANK ASSOCIATES and Suntrust Bank Plaintiffs, v. FIDELITY AND DEPOSIT COMPANY OF MARYLAND Defendant.

United States District Court, E.D. Tennessee.

January 21, 2004.

Attorney(s) appearing for the Case

Tracy C. Wooden, Wooden, Ray & Scarborough, Chattanooga, TN, for Plaintiffs.

R. Jonathan Guthrie, Patrick, Beard, Schulman & Jacoway, Chattanooga, TN, Clayton H. Farnham, Brian T. Moore, Drew, Eckl & Farnham, Atlanta, GA, for Defendant.

MEMORANDUM AND ORDER

EDGAR, Chief Judge.

The plaintiffs, Chattanooga Bank Associates ("Bank Associates") and SunTrust Bank ("SunTrust"), have sued to recover insurance benefits for costs incurred following two fires at an insured property, as well as statutory bad faith penalties pursuant to Tenn.Code Ann. § 56-7-105, based on an insurance policy issued by the defendant, Fidelity and Deposit Company of Maryland ("Fidelity"). [Court File No. 1...

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