Great Lakes Reinsurance (UK) PLC et al v. Porter et al

Filing 34

DECLARATORY JUDGMENT. Signed by District Judge Lacy Thornburg on 3/3/09. (ejb)

IN THE DISTRICT COURT OF THE UNITED STATES FOR THE WESTERN DISTRICT OF NORTH CAROLINA ASHEVILLE DIVISION CIVIL NO. 1:07CV157

GREAT LAKES REINSURANCE (UK) ) PLC; and WARTA INSURANCE & ) REINSURANCE CO., ) ) Plaintiffs, ) ) Vs. ) ) ANTHONY R. PORTER; BANK OF ) AMERICA, N.A.; and FIRST ) INSURANCE FUNDING CORP., ) ) Defendants. ) )

DECLARATORY JUDGMENT

For the reasons stated in the Order filed herewith, IT IS, THEREFORE, ORDERED, ADJUDGED, AND DECREED that the Plaintiffs' motion for summary judgment is ALLOWED, and the following Declaratory Judgment is entered. IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Insurance Policy No. 200/658/70634-35 is VOID ab initio, and the Defendant Anthony R. Porter, who is in default herein, his heirs and

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assigns, have and take nothing from the Plaintiffs as they are entitled to no recovery under the Insurance Policy No. 200/658/70634-35. IT IS FURTHER ORDERED that the Defendant Bank of America, N.A., is declared a simple loss payee under Insurance Policy No. 200/658/70634-35, and due to the fact that this Policy contains no "Mortgagee's Interest Clause" or a "Breach of Warranty Clause," the Defendant Bank of America, N.A., have and take nothing from the Plaintiffs under said policy of insurance. IT IS FURTHER ORDERED that Plaintiffs' claims against Defendant First Insurance Funding Corp., having not been served with the summons and complaint in this action within the time allowed by Fed. R. Civ. P. 4, are hereby DISMISSED. IT IS FURTHER ORDERED that Plaintiffs' costs be taxed against the Defendants.
Signed: March 3, 2009