MATTER OF UNION INDEMNITY INSURANCE CO. OF NEW YORK, 80 N.Y.2d 983 (1992)

607 N.E.2d 811, 592 N.Y.S.2d 664

In the Matter of the Liquidation of UNION INDEMNITY INSURANCE COMPANY OF NEW YORK. ROYAL BANK AND TRUST COMPANY, Respondent, v. JAMES P. CORCORAN, as Superintendent of Insurance of the State of New York, and as Liquidator of the Union Indemnity Insurance Company of New York, Appellant.

Court of Appeals of the State of New York.Argued October 21, 1992
Decided November 18, 1992

Appeal from the Appellate Division of the Supreme Court in the First Judicial Department, Ira Gammerman, J.

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[EDITORS’ NOTE: THIS PAGE CONTAINS HEADNOTES. HEADNOTES ARE NOT AN OFFICIAL PRODUCT OF THE COURT, THEREFORE THEY ARE NOT DISPLAYED.]

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Herzfeld Rubin, P.C., New York City (David B. Hamm an Herbert Rubin of counsel), and William F. Jerome, New York City, for appellant.

Gibson, Dunn Crutcher, New York City (Jerry J. Strochlic
and Edward T. Ferguson, III, of counsel), and Thomas A. Harnett, New York City, for respondent.

Order affirmed, with costs, for the reasons stated in the opinion of Justice Ira Gammerman at Supreme Court, New York County (148 Misc.2d 863), except insofar as it discusses the superseding legislation and the reasons for its enactment.

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Concur: Acting Chief Judge SIMONS and Judges KAYE, TITONE, HANCOCK, JR., BELLACOSA and SMITH.