MICHAEL FINCI
v.
AMERICAN CASUALTY COMPANY OF READING, PENNSYLVANIA ET AL. AMERICAN CASUALTY COMPANY OF READING, PENNSYLVANIA
v.
STATE OF MARYLAND DEPOSIT INSURANCE FUND CORP. ET AL.
Court of Appeals of Maryland.https://leagle.com/images/logo.png
August 16, 1991.
August 16, 1991.
Attorney(s) appearing for the Case
Richard A. Finci (Pickett, Houlon & Berman, Hyattsville), Thomas S. Schaufelberger (Michael L. Gassmann, M. Joseph Sterner, Drinker Biddle & Reath of Washington, D.C., H. Emslie Parks, Parks, Hansen & Ditch of Towson), on brief, for petitioners.
Neil J. Dilloff (Jonathan D. Smith, Kathleen A. Ellis, Timothy U. Sharpe, Piper & Marbury, J. Joseph Curran, Jr., Atty. Gen., Dennis M. Sweeney, Deputy Atty. Gen., Baltimore, on brief, for respondents.
M. Albert Figinski, James J. Hanks, Jr., Mark M. Tomaino, Weinberg & Green, Baltimore, amicus curiae, for Maryland Chamber of Commerce, Inc.
Joel M. Savits, Jordan, Coyne, Savits & Lopata of Rockville, D'Amato & Lynch, New York City, amicus curiae, for National Union Fire Ins. Co. of Pittsburgh, Pa.
Michael L. Cohen, Gerardo Puig, Wilson, Elser, Moskowitz, Edelman & Dicker of Baltimore, Thomas W. Wilson, Harold J. Moskowitz, Wayne E. Borgeest, Scott R. Schaffer, Wilson, Elser, Moskowitz, Edelman & Dicker of New York City, amicus curiae, for American Ins. Assn.
Eugene J. Comey, Carrie L. Hempel, Robert F. Schiff, Sean M. Fitzpatrick, Tuttle & Taylor, Washington, D.C., amicus curiae, for Federal Deposit Ins. Corp.
Argued before ELDRIDGE, RODOWSKY, McAULIFFE, CHASANOW, JJ., and CHARLES E. ORTH, Jr. and MARVIN H. SMITH, Associate Judges of the Court of Appeals (retired), and A. OWEN HENNEGAN, Judge of the Third Judicial Circuit of Maryland (retired), Specially Assigned.
Court of Appeals of Maryland.
RODOWSKY, Judge.
First Maryland Savings and Loan, Inc. (FMSL), a Maryland chartered, capital stock, savings and loan association, is insolvent, and State of Maryland Deposit Insurance Fund Corporation (MDIF) is its receiver. This action involves the construction of a directors' and officers' (D & O) liability insurance policy issued to FMSL by American Casualty Company of Reading, Pennsylvania (ACCO). In an underlying action MDIF obtained substantial judgments...
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