LLOYDS CREDIT CORP. v. McCLAIN HELLER INS., INC.


262 N.J. Super. 211 (1992)

620 A.2d 472

LLOYDS CREDIT CORPORATION, PLAINTIFF, v. McCLAIN HELLER INSURANCE, INC., AND TRANSAMERICA INSURANCE GROUP, DEFENDANTS.

Superior Court of New Jersey, Law Division Cumberland County.

Decided December 14, 1992.


Attorney(s) appearing for the Case

Paul T. Fader, attorney for plaintiff (Connell, Foley & Geiser, attorneys).

Richard J. Wolf, attorney for Transamerica Insurance Group (LeBoeuf, Lamb, Leiby & MacRae, attorneys).

No appearance filed by McClain Heller Insurance, Inc.


KLEINER, J.S.C.

This matter is before the court pursuant to cross-motions for summary judgment. Both movants seek the entry of an order declaring it to be the owner of insurance expirations formerly owned by defendant, McClain-Heller Insurance, Inc. [hereafter McClain].

The case presents a novel issue in New Jersey and requires this court to determine whether the description of collateral set forth within a financing statement held by the plaintiff, Lloyds...

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