On September 19, 1978, respondents were involved in a motor vehicle accident. Thereafter, on or about April 30, 1982, respondents filed a demand for arbitration in the total amount of $40,000 for personal injuries under the uninsured motorist provisions of their automobile liability insurance policies. On May 27, 1982, petitioner obtained an order to show cause seeking a stay of the arbitration proceeding (CPLR 7503). That application was denied by order dated June 19, 1982...
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