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COSMOPOLITAN INS. v. LUMBERMEN'S CAS. CO.

20 N.Y.2d 145 (1967)

Cosmopolitan Mutual Insurance Company, Appellant, v. Lumbermen's Mutual Casualty Company, Respondent.

Court of Appeals of the State of New York.

Decided June 1, 1967.

Attorney(s) appearing for the Case

Joseph Di Fede, Emanuel Morgenbesser, Arthur R. Martoccia and Nathan Cyperstein for appellant.

Sidney A. Schwartz for respondent.

Judges VAN VOORHIS, SCILEPPI and KEATING concur with Judge BURKE; Chief Judge FULD and Judge BERGAN dissent and vote to affirm upon the opinion at the Appellate Division; Judge BREITEL taking no part.

BURKE, J.

Two insurance carriers, plaintiff-appellant Cosmopolitan Mutual Insurance Company and defendant-respondent Lumbermen's Mutual Casualty Company, seek a declaratory judgment as to their respective liability arising out of a suit brought by a third party against the insured. Upon a settlement in favor of the injured third party, in the amount of $70,000, each of the two carriers and the City of New York...

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