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NATIONAL UNION FIRE INS. v. TURTUR

743 F.Supp. 260 (1990)

NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA., Plaintiff, v. Mario TURTUR, Jr., Defendant. NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA., Plaintiff, v. Chris TURTUR and Stephen P. Turtur, d/b/a C & S Joint Venture, Defendants.

United States District Court, S.D. New York.

August 23, 1990.

Attorney(s) appearing for the Case

Richard F. Russell, Denis Collins, D'Amato & Lynch, New York City, for plaintiff.

Neal Schwarzfeld, Schwarzfeld, Ganfer & Shore, New York City, for defendant.

STANTON, District Judge.

National Union Fire Insurance Company of Pittsburgh, Pa. ("National Union"), an issuer of financial guarantee bonds, sues to enforce indemnity agreements between itself and limited partners in a tax shelter limited partnership, and to enforce its rights as subrogee on the limited partners' promissory notes which it honored on their behalf.

National Union had issued a bond which guaranteed, to the limited partnership and to the bank...

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