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FIRST AMERICAN BANK v. FIRST AMERICAN TRANSP.

No. 07-31033.

585 F.3d 833 (2009)

FIRST AMERICAN BANK, Plaintiff-Appellant, v. FIRST AMERICAN TRANSPORTATION TITLE INSURANCE CO., Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

October 14, 2009.

Attorney(s) appearing for the Case

John M. Landis (argued), Andrew D. Mendez, Phillip A. Wittmann, Stone, Pigman, Walther & Wittmann, New Orleans, LA, for Plaintiff-Appellant.

Charles L. Stern, Jr. (argued), The Steeg Law Firm, LLC, Edward F. LeBreton, III, Fowler, Rodriguez, Valdes-Fauli, New Orleans, LA, for Defendant-Appellee.

Before JONES, Chief Judge, and OWEN and SOUTHWICK, Circuit Judges.

OWEN, Circuit Judge:

Appellant First American Bank (First American or Bank) appeals a grant of summary judgment in favor of appellee First American Transportation Title Insurance Co. (FATTIC). The district court ruled that the measure of indemnity under First American's insurance policy is limited to the amount by which the payments to the holders of the priming liens for necessaries reduced First American's recovery on its ship mortgages and that the Policy did not...

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