Twin City Fire Insurance Company v. SLRA Inc.
Opinion
trial_court Opinion
1 2 3 4 UNITED STATES DISTRICT COURT 5 NORTHERN DISTRICT OF CALIFORNIA 6 7 TWIN CITY FIRE INSURANCE Case No. 19-cv-06131-JSC
COMPANY,
8 Plaintiff, ORDER RE: CROSS-MOTIONS FOR 9 SUMMARY JUDGMENT v. 10 Re: Dkt. Nos. 35, 37 SLRA INC., et al., 11 Defendants.
12
13 Twin City Fire Insurance Company brings this insurance coverage action against its 14 insureds, SLRA Inc. and its owner Scott M. Landress (collectively “SLRA”), seeking a 15 declaratory judgment that it is entitled to reimbursement of approximately $2.5 million in defense 16 costs that it previously paid under an excess coverage policy. Twin City insists that a settlement 17 agreement SLRA reached with the Securities and Exchange Commission (“SEC”) which was 18 memorialized in a cease-and-desist order triggered two exclusions under the coverage policy. 19 SLRA has counterclaimed for breach of contract, bad faith, and declaratory relief. The parties’ 20 early cross-motions for partial summary judgment on the question of whether the SEC’s order 21 triggered the exclusions, and if not,…