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MATTER OF MIDLAND INSURANCE COMPANY

269 A.D.2d 50 (2000)

709 N.Y.S.2d 24

In the Matter of the Liquidation of MIDLAND INSURANCE COMPANY. LAC D'AMIANTE DU QUEBEC, LTEE. (ASARCO), Appellant-Respondent; SUPERINTENDENT OF INSURANCE OF THE STATE OF NEW YORK, as Liquidator of Midland Insurance Company, Respondent-Appellant.

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

June 1, 2000.

Attorney(s) appearing for the Case

Allan Young and Dennis B. Auerbach of counsel (Howard Schwartz and John G. Buchanan, III, on the brief; Porzio, Bromberg & Newman, P. C., New York City, and Covington & Burling, Washington, D.C., attorneys), for appellant-respondent.

David B. Hamm of counsel, New York City (Herbert Rubin and Herbert Lazar on the brief; Herzfel & Rubin, P. C., attorneys), for respondent-appellant.

LERNER, RUBIN and BUCKLEY, JJ., concur.

OPINION OF THE COURT

WALLACH, J. P.

This appeal requires us to determine important issues of insurance law which arise in the context of a liquidation proceeding under the supervision of respondent Superintendent of Insurance. Among the questions presented are a determination as to when insurance coverage attaches (triggers) with respect to a policy covering "exposure" to asbestos-related risks; the effect, whether...

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