RM Kids is not a daycare center. It is a lender.
RMK's predecessor, Peachtree Bank, lent money to a party to buy property.
Later, after RMK succeeded to the Bank's position (or, actually, succeeded to the position of RBC Bank which had purchased Peachtree Bank's loan), RMK foreclosed.
The question was when penalties could possibly begin for the title insurance company's denial of coverage: Was it the date that Peachtree Bank closed on the loan, or the date that RMK foreclosed on the property?
Following the majority view on the question, the Court held that Georgia law in this case would pick the latter of the two dates, the date that RMK foreclosed. When RMK foreclosed and its interest in the property was actually calculated, that is when RMK's damage was determined and its claim to penalties was complete. Thus, the date of foreclosure was the date that the penalties period began to run on alleged bad-faith failure to timely pay the lender's title policy claims in this case. Old Republic Nat'l Title Ins. Co. v. RM Kids, LLC, ___ S.E.2d ___, Nos. A16A0257 & A16A0258, 2016 WL 3563732, at *4, *9 (Ga. Ct. App. June 29, 2016).
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