Cooper Industries, Ltd. v. National Union Fire Insurance Co. of Pittsburgh
Case Details
- Judge(s)
- Stewart, King, Jones
- Status
- Published
- Procedural Posture
- appeal
- Circuit
- 5th Circuit
Related Laws
No specific laws identified for this ruling.
Outcome
The Fifth Circuit affirmed the district court's summary judgment in favor of National Union Fire Insurance Company, holding that Cooper Industries could not recover under its commercial-crime insurance policy because the loss occurred after Cooper loaned funds to the fraudsters, at which point Cooper no longer owned the earnings or principal as required by the policy.
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