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IN RE INTEGRITY INS. CO.

251 N.J. Super. 501 (1991)

598 A.2d 940

IN THE MATTER OF THE LIQUIDATION OF INTEGRITY INSURANCE COMPANY.

Superior Court of New Jersey, Chancery Division Bergen County, General Equity Part.

Decided July 18, 1991.

Attorney(s) appearing for the Case

Thomas Novak, for Liquidator of Integrity Insurance Company (Sills, Cummis, Zuckerman, Radin, Tischman, Epstein & Gross, attorneys).

Richard R. Spencer, Jr., for N.J. Property-Liability Insurance Guaranty Association (Bressler Amery & Ross, attorneys).

Joseph L. Cook, for Ingersoll Rand Financial Corp. (Ravin Sarasohn Cook Baumgarten Fisch & Baine, attorneys).

Richard H. Bagger for Ameritrust Company National Assoc., LaSalle National Bank, Bank of N.Y., First Fidelity Bank, N.A. and First Federal Savings Bank of New Orleans (McCarter & English, attorneys).

Barry G. Saretsky, for Credit Lyonnais (Bower & Gardner, attorneys) and David J. Reich (Wolff & Samson, attorneys).

Peter Petrou for Kentucky Insurance Guaranty Assoc. (Cuyler, Burk & Matthews, attorneys).

David C. Pennella for Boatman's National Bank (Pennella & Claps, attorneys).

Glenn R. Turtletaub for Sam Klein (Greenberg, Margolis, attorneys).

Linda Pickering for Centerbank (Lowenstein Sandler Kohl Fisher & Boylan, attorneys).

Brad S. Schenerman for Single Ply International, Inc.

MEEHAN, J.S.C.

Integrity Insurance Company was a New Jersey stock insurance company that issued various types of insurance policies as well as surety bonds. Integrity was declared insolvent by an order of liquidation dated March 24, 1987 under section 26 of the New Jersey Insurers Liquidation Act, N.J.S.A. 17:30C (hereinafter the "liquidation act"). The New Jersey Commissioner of Insurance was appointed liquidator. Pursuant to procedures established in N...

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