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NATIONAL UNION FIRE INS. v. CITY SAV., F.S.B.

Nos. 93-5587, 93-5595 and 93-5596.

28 F.3d 376 (1994)

NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA; Gulf Insurance Company, National Union Fire Insurance Company of Pittsburgh, PA, Appellant in Nos. 93-5595/5596, Gulf Insurance Company, Appellant in No. 93-5587, v. CITY SAVINGS, F.S.B., In Receivership, Resolution Trust Corporation, as Receiver.

United States Court of Appeals, Third Circuit.

Decided July 1, 1994.

As Amended August 29, 1994.

Attorney(s) appearing for the Case

S. Gordon Elkins (argued), Samuel J. Arena, Jr., Pauline C. Scalvino, Stradley, Ronon, Stevens & Young, Philadelphia, PA, Peter I. Broeman, Bigham, Englar, Jones & Houston, Newark, NJ, for appellant National Union Fire Insurance Company of Pittsburgh, PA.

Thomas F. Quinn (argued), Wilson, Elser, Moskowitz, Edelman & Dicker, Newark, NJ, for appellant Gulf Insurance Co.

Gerald A. Liloia (argued), Robert J. Gilson, Riker, Danzig, Scherer, Hyland & Perretti, Morristown, NJ, for appellees City Savings, F.S.B., in Receivership, the Resolution Trust Corporation, as receiver.

Before: GREENBERG, COWEN and NYGAARD Circuit Judges.

OPINION OF THE COURT

COWEN, Circuit Judge.

National Union Fire Insurance Company of Pittsburgh, Pennsylvania ("National Union") and Gulf Insurance Company ("Gulf") filed a declaratory judgment action against City Savings, F.S.B., in Receivership ("City Savings") and the Resolution Trust Corporation, as Receiver ("RTC"). In the declaratory judgment action, National Union and Gulf sought to rescind insurance policies which they had issued and under which City...

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