Textron Fin. Corp. v. National Union Fire Ins. Co.

Full title: TEXTRON FINANCIAL CORPORATION, Plaintiff and Appellant, v. NATIONAL UNION…

Court: California Court of Appeals, Fourth District, Third Division

Date published: Jun 18, 2004

No. G020323 (Cal. Ct. App. Jun. 18, 2004)

Opinion

Page 744a

119 Cal.App.4th 744a __ Cal.Rptr.3d __ TEXTRON FINANCIAL CORPORATION, Plaintiff and Appellant, v. NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PENNSYLVANIA, Defendant and Appellant. G020323 California Court of Appeal, Fourth District, Third Division June 18, 2004

Super. Ct. No. 734096

ORDER MODIFYING OPINION AND DENYING REHEARING, NO CHANGE IN JUDGMENT.

RYLAARSDAM, J.

It is ordered that the opinion filed in this case on May 20, 2004, 118 CaI.App.4th 1061; 13 Cal.Rptr.3d 586be modified in the following particular:

On page 26, the second sentence of the first full paragraph is deleted and the following sentence is inserted in its place:

Accordingly, we shall reverse the order remitting punitive damages to $1.7 million and modify the judgment to reduce the punitive damage award to $360,000, a sum approximating four times the compensatory damages awarded on the claims for breach of the implied covenant of good faith and fair dealing and fraud.

This modification does not effect a change in the judgment.

Plaintiff and appellant Textron Financial Corporation’s petition for rehearing is DENIED.

WE CONCUR: SILLS, P. J., O’LEARY, J.