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AMBASSADOR ASSOCS. v. CORCORAN

79 N.Y.2d 871 (1992)

Ambassador Associates et al., Appellants, v. James P. Corcoran, as Superintendent of the New York State Insurance Department, et al., Respondents.

Court of Appeals of the State of New York.

Decided February 13, 1992.

Attorney(s) appearing for the Case

Alan M. Gelb, Richard S. Fischbein, Kenneth G. Schwarz, Deborah J. Locitzer and Steven M. Raphael for appellants.

Sheila L. Birnbaum, Irene A. Sullivan, Timothy G. Reynolds, Lloyd M. Eisenberg and Toni C. Hamburg for Home Insurance Company, respondent.

James P. Corcoran, as Superintendent of Insurance, respondent precluded.

Concur: Chief Judge WACHTLER and Judges SIMONS, HANCOCK, JR., and BELLACOSA. Judge TITONE dissents and votes to reverse in an opinion in which KAYE and ALEXANDER concur.

Order affirmed, with costs, for the reasons stated in the opinion by Justice David B. Saxe at Supreme Court, New York County (143 Misc.2d 706), and the reasons stated in the memorandum of the Appellate Division (168 A.D.2d 281).

TITONE, J. (dissenting).

The Court concludes that defendant Home Insurance Company (Home) —...

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