In re Illinois National Insurance Co

Court: Tx Sup  02/23/2024  Court Abused Its Discretion By Finding that a Settlement Agreement Was Binding On Insurers to Establish Coverage and the Amount of the Loss

The Supreme Court explained that even though a federal court and bankruptcy court had made findings that the multi-million dollar settlement was fair, reasonable and made at arm's-length, the comity doctrine did not mean that it was enforceable against the insurers because there was no finding that the settlement was the result of a fully adversarial proceeding or that it was a fair appraisal of the insured's damages.

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