FED. INS. CO. v. COWEN


145 Misc.2d 992 (1989)

Federal Insurance Company, Plaintiff, v. Phillip Cowen et al., Defendants.

Supreme Court, New York County.

December 4, 1989


Attorney(s) appearing for the Case

Albert E. Fershing and Monique R. Franco for plaintiff. St. John, Oberdorf, Williams, Edington & Curtin (Michael A. Lambert and Bruce H. Gieseman of counsel), for defendants.


DAVID B. SAXE, J.

This action involves a claim by an insurer regarding its alleged right to a damaged Andy Warhol painting as "salvage". The painting was owned by the defendants, who obtained insurance on the painting from the plaintiff in 1982, in the amount of $35,000. In December 1982, the painting was damaged while in transit. The defendants obtained an expert's assessment of the damage, and based upon that assessment, the insurance broker recommended...

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