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MBIA INS. CORP. v. ROYAL INDEM. CO.

No. CIV.A.02-1294-JJF.

286 F.Supp.2d 347 (2003)

MBIA INSURANCE CORPORATION and Wells Fargo Bank Minnesota, N.A. as Trustee of SFC Grantor Trust, Series 2000-1, SFC Grantor Trust, Series 2000-2, SFC Grantor Trust, Series 2000-3, SFC Grantor Trust, Series 2000-4, SFC Grantor Trust, Series 2001-1, SFC Grantor Trust, Series 2001-2, SFC Grantor Trust, Series 2001-3, and SFC Grantor Trust Series 2001-I, Plaintiffs, v. ROYAL INDEMNITY COMPANY, Defendant.

United States District Court, D. Delaware.

October 8, 2003.

Attorney(s) appearing for the Case

David C. McBride, John W. Shaw, Christian Douglas Wright, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE, Proskauer Rose LLP, New York, New York (Ronald S. Rauchberg and Steven E. Obus, of counsel), for Plaintiffs.

Lawrence C. Ashby, Philip Trainer, Jr., Tiffany L Geyer, Ashby & Geddes, Wilmington, DE, Sonnenschein Nath & Rosenthal, New York, New York (Michael H. Barr and Kenneth J. Pfaehler, of counsel), Alan S. Gilbert, Sonnenschein Nath & Rosenthal, Chicago, Illinois, for Defendant.

MEMORANDUM OPINION

FARNAN, District Judge.

Currently pending before the Court is a Motion for Partial Summary Judgment filed by the Plaintiffs, Wells Fargo Minnesota, N.A. ("Wells Fargo") and MBIA Insurance Corporation ("MBIA") (D.I.12). For the reasons discussed below, the motion will be granted.

I. Facts

This breach of contract case involves eight insurance policies issued by Defendant Royal Indemnity Company ("Royal") in connection...

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