MURPHY v. AMBASSADOR INSURANCE CO.


195 N.J. Super. 274 (1984)

478 A.2d 1243

JOSEPH F. MURPHY, COMMISSIONER OF INSURANCE, PLAINTIFF, v. AMBASSADOR INSURANCE COMPANY, AN INSURANCE CORPORATION OF THE STATE OF VERMONT, ARNOLD CHAIT, W. EDSON MCKEE, DORIS J. CHAIT, RICHARD A. TAFRO, RICHARD C. KEMP, DANIEL J. LYNCH, HARVEY N. GUIS, EDWARD C. CHAIT, HAROLD M. EDWARDS, ELLIOT DOLINGER, JOEL M. COOPER AND DANIEL HIRSCH, DEFENDANTS.

Superior Court of New Jersey, Chancery Division Hudson County.

Decided April 11, 1984.


Attorney(s) appearing for the Case

John J. Hayden, for plaintiff (Irwin I. Kimmelman, Attorney General of New Jersey, attorney).

Eugene M. Haring, for defendants (McCarter and English, attorneys).


TARLETON, J.S.C.

In this delinquency action instituted pursuant to the Uniform Insurers Liquidation Act, N.J.S.A. 17:30C-1 et seq., the Commissioner of Insurance of New Jersey has been appointed ancillary receiver of Ambassador Insurance Company. His application for possession of Ambassador's New Jersey assets of approximately $100,000,000 is opposed by the domiciliary receiver appointed by the court of the state in which Ambassador was incorporated...

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