Defunct Philadelphia firm Wolf Block has sued its fiduciary liability insurer for refusing to bankroll the firm’s defense against a suit brought by a former partner who wants his severance pay.
The complaint in Wolf Block v. Federal Insurance, filed Oct. 22 in the Philadelphia Court of Common Pleas, alleges defendant Federal Insurance Co. has refused to cover the cost of defending an action brought by former partner Michael Budin, who has claimed he is owed severance payments through 2017.
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