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VIGILANT INS v. HOUS. AUTH

87 N.Y.2d 36 (1995)

660 N.E.2d 1121

637 N.Y.S.2d 342

Vigilant Insurance Company of America et al., Respondents, v. Housing Authority of the City of El Paso, Texas, et al., Appellants.

Court of Appeals of the State of New York.

Decided November 1, 1995.

Attorney(s) appearing for the Case

Bondy & Schloss, New York City (Joel S. Forman and Jacqueline I. Meyer of counsel), for appellants.

D'Amato & Lynch, New York City (Ronald H. Alenstein, Donna Marie Hughes and Jeffrey Underweiser of counsel), for respondents.

Chief Judge KAYE and Judges SIMONS, TITONE, SMITH, LEVINE and CIPARICK concur.

BELLACOSA, J.

Plaintiffs, collectively referred to as "Vigilant," are subrogees of Drexel Burnham Lambert. They plead three discretely denominated causes of action that have some overlapping features. A predominant objective is the declaration of their superior right and title with respect to certain bearer bonds and interest coupons issued by defendant Housing Authority of the City of El Paso. The stolen bonds...

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