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MURPHY CO. v. RESERVE INS.

74 A.D.2d 235 (1980)

G. C. Murphy Company, Respondent, et al., Plaintiffs, v. Reserve Insurance Company, Appellant. (And a Third-Party Action.)

Appellate Division of the Supreme Court of the State of New York, First Department.

May 1, 1980

Attorney(s) appearing for the Case

John N. Gavin of counsel (James R. Sullivan and Jeremiah Marsh with him on the briefs; Bigham, Englar, Jones & Houston and Hopkins, Sutter, Mulroy, Davis & Cromartie, attorneys), for appellant.

C. Raymond Nelson of counsel (Rein, Mound & Cotton, attorneys), for respondent.

ROSS and CARRO, JJ., concur with MURPHY, P. J.; LUPIANO, J., dissents in part in an opinion; SILVERMAN, J., dissents in an opinion.

MURPHY, P. J.

Plaintiff G. C. Murphy Company (Murphy) brought this action against various insurers, reinsurers and brokers to recover $875,000 in unearned premiums. Defendant Reserve Insurance Company (Reserve) was served in this action in December of 1973. Since Reserve was an unauthorized foreign insurer, Special Term directed it to post an undertaking in the amount of $1,077,000 in accordance with section...

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