MATTER OF LIQUIDATION OF INTEGRITY INS. CO.


147 N.J. 128 (1996)

685 A.2d 1286

IN THE MATTER OF THE LIQUIDATION OF INTEGRITY INSURANCE COMPANY.

The Supreme Court of New Jersey.

Reargued September 24, 1996.

Decided December 12, 1996.


Attorney(s) appearing for the Case

Thomas S. Novak argued the cause for appellant, Commissioner of Insurance of the State of New Jersey, in his capacity as Liquidator of Integrity Insurance Company (Sills Cummis Zuckerman Radin Tischman Epstein & Gross, Special Council, and Peter G. Verniero, Attorney General of New Jersey, attorneys; Mr. Novak and Joseph L. Yannotti, Assistant Attorney General, of counsel; Adam J. Kaiser and Thomas M. Hunt, Deputy Attorneys General, on the brief).

Barry G. Saretsky, a member of the New York bar, argued the cause for respondent Credit Lyonnais (Shanley & Fisher, attorneys; Susan M. Sharko, on the briefs).

James M. Mulvaney submitted a brief on behalf of amicus curiae, Surety Reinsurers (McElroy, Deutsch & Mulvaney, attorneys; Mr. Mulvaney and Margaret F. Catalano, on the brief).


The opinion of the Court was delivered by GARIBALDI, J.

Integrity Insurance Company (Integrity or surety), a New Jersey insurance company, became insolvent and filed for liquidation. The Commissioner of Insurance (Commissioner) was appointed the Liquidator. Integrity had previously issued surety bonds to Credit Lyonnais, guaranteeing the payment of the promissory notes of investors in certain partnerships. The promissory notes, which called for installment payments...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases