5th Circuit Affirms No Breach, No Bad Faith By Bond Insurer

5th Circuit Affirms No Breach, No Bad Faith By Bond Insurer

NEW ORLEANS - A financial guarantor was abiding by the terms of an insurance contract when it declined to give consent to a borrower's request to pursue a second set of bonds, a Fifth Circuit U.S. Court of Appeals panel ruled May 14, affirming a lower court's finding that the insurer did not beach its contract or act in bad faith (Woman's Hospital Foundation v. National Public Finance Guarantee Corp., et al., No. 12-30701, 5th Cir.; 2013 U.S. App. LEXIS 9683).

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