A condominium project developer won a $21 million judgment against Coastal Title Services Inc., when Coastal misappropriated escrow deposits of prospective condo tenants. Coastal’s attorney failed to notify its insurer of a case against it, and later ended up in prison in connection with the missing funds. The court found the failure to notify the insurer let the insurer off the hook for providing any coverage.
A developer and Coastal were partners on a condominium project. A prospective tenant sued the developer for its escrowed …
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