First American Bank v. First American Trans. Title Ins., No. 13-30888 (5th Cir. 2014)
Annotate this CaseFirst American appealed the district court's judgment regarding FATTIC's liability to First American under certain vessel title insurance policies. The court concluded that the district court did not err in selecting the date of the foreclosure sales as the appropriate date of valuation; it was not error, much less clear error, to find that the Ocean Jewel's value equaled its foreclosure sale price under the circumstances; there was no reversible error in the district court's calculations; and there was no manifest error in finding that First American was not due any penalties under Louisiana law because FATTIC acted in bad faith. Accordingly, the court affirmed the judgment of the district court.
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