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MATTER OF LIQUIDATION OF UNION INDEMNITY INSURANCE COMPANY OF NEW YORK

259 A.D.2d 403 (1999)

687 N.Y.S.2d 132

In the Matter of the LIQUIDATION OF UNION INDEMNITY INSURANCE COMPANY OF NEW YORK. ROYAL BANK AND TRUST COMPANY, Appellant, v. SUPERINTENDENT OF INSURANCE OF THE STATE OF NEW YORK, Respondent.

Appellate Division of the Supreme Court of the State of New York, First Department.

Decided March 25, 1999.

The facts giving rise to this appeal are set forth in a prior decision of the Court of Appeals (92 N.Y.2d 107) and need not be repeated here.

The only issue extant on this appeal is the appropriate rate of interest due plaintiff on the amounts owed to it by defendant pursuant to the subject bonds. While the parties are in agreement that the contract rate of interest should be applied...

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