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MATTER OF FRONTIER INSURANCE COMPANY. COMMERCIAL RISK RE-INSURANCE CO., v. SUPERINTENDENT OF INSURANCE OF THE STATE OF NEW YORK

2 A.D.3d 264 (2003)

769 N.Y.S.2d 530

In the Matter of FRONTIER INSURANCE COMPANY. COMMERCIAL RISK RE-INSURANCE CO., Appellant-Respondent, v. SUPERINTENDENT OF INSURANCE OF THE STATE OF NEW YORK, as Rehabilitator of FRONTIER INSURANCE COMPANY, Respondent-Appellant.

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

December 16, 2003.

By consenting to an evidentiary hearing and discovery, the Superintendent waived his argument that the IAS court should not have permitted Commercial Risk to bring a separate action. In any event, under the facts of this case, the IAS court properly exercised its discretion in modifying its October 15, 2001 order to permit Commercial Risk to sue the Superintendent (see Matter of Bean v Stoddard, 238 N.Y. 618 [1924]).

Of the $1,744,209.26 that Frontier withdrew...

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