Federal Deposit Insurance Corporation, in Its Separate Corporate Capacity v. Aetna Casualty and Surety Company

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• finding that a bond provision providing for termination of the bond on takeover of the insured by the FDIC was not void
• noting that faced with an identical termination provision, the FDIC, upon appointment as receiver of a failing bank, sent a letter to Aetna acknowledging that the bonds terminated immediately upon appointment of a receiver
• reviewing de novo a district court finding that certain losses were \discovered\ by the defendant within the meaning of the contract
• “pressing a legitimate contractual defense ... can certainly not be a basis for a bad faith claim”

Source: CourtListener parenthetical corpus (CC0).