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INDEMNITY INS. CO. v. AMERICAN DESERET LTD.

No. 86 Civ. 1843 (MBM).

887 F.Supp. 521 (1993)

INDEMNITY INSURANCE COMPANY OF NORTH AMERICA, Plaintiff, v. AMERICAN DESERET LIMITED PARTNERSHIP, et al., Defendants.

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

July 1, 1993.

Attorney(s) appearing for the Case

Robert MCL. Boote, William A. O'Leary, Ballard Spahr Andrews & Ingersoll, Philadelphia, PA, Michael E. Cavanaugh, Winston & Strawn, New York City, for plaintiff.

I. Walton Bader, Bader & Bader, White Plains, NY, for defendant.

OPINION AND ORDER

MUKASEY, District Judge.

Plaintiff Indemnity Insurance Company of North America ("IINA") guaranteed as surety in 1985 promissory notes (the "Notes") executed by defendants as limited partners in the proposed syndicated purchase of an Angus bull named High Voltage, and the sale of his semen for cattle reproduction. High Voltage proved less potent than his name, the venture failed, and the partners defaulted on the Notes. IINA paid the Notes...

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