United Commercial Insurance Service, Incorporated, D/B/A United Checkwriter Services Burton D. Rayden Jeffrey L. Rayden Joel Rayden v. The Paymaster Corporation, the Paymaster Corporation, Counterclaim v. Burton D. Rayden, Counterclaim and American Bankers Insurance Company of Florida, Counterclaim

962 F.2d 853 UNITED COMMERCIAL INSURANCE SERVICE, INCORPORATED, d/b/a United Checkwriter Services; Burton D. Rayden; Jeffrey L. Rayden; Joel Rayden, Plaintiffs, v. The PAYMASTER CORPORATION, Defendant. The PAYMASTER CORPORATION, Counterclaim Appellant, v. Burton D. RAYDEN, et al., Counterclaim Defendants, and American Bankers Insurance Company of Florida, Counterclaim Defendant-Appellee. No. 90-56108. United States Court of Appeals, Ninth Circuit. Argued and Submitted Oct. 10, 1991. Decided April 14, 1992. Dennis M. Perluss, Hufstedler, Kaus & Ettinger, Los Angeles, Cal., for appellant. James F. Jorden, Jorden, Schulte & Burchette, Miami, Fla., for appellee. Appeal from the United States District Court for the Central District of California. Before FLETCHER, W. NELSON, and BRUNETTI, Circuit Judges. D.W. NELSON, Circuit Judge: 1 Appellant Paymaster Corp. was awarded a judgment in excess of $11 million in compensatory and punitive damages against several defendants, including appellee American Bankers Insurance Corp. (American). Paymaster settled with all defendants other than American for $1.7 million in compensatory damages. Concurrent with this settlement, Paymaster…