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SOHO PLAZA CORP., INC. v. NATIONWIDE MUTUAL INSURANCE COMPANY

309 A.D.2d 504 (2003)

764 N.Y.S.2d 697

SOHO PLAZA CORP., INC., et al., Respondents, et al., Plaintiff, v. NATIONWIDE MUTUAL INSURANCE COMPANY, Appellant.

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

Decided October 2, 2003.

The motion court's finding of insurance coverage does not violate public policy as embodied in statute and case law prohibiting indemnification under directors and officers liability insurance policies where directors and officers have been cast in liability by reason of their deliberate dishonesty or bad faith. Defendant's claim that the judgment in the underlying action "necessarily" includes a finding that Soho Plaza's directors...

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