The motion court properly found triable issues of fact as to whether defendant breached the insurance policies' provision which prohibited defendant from settling any claims or assuming any contractual obligations without plaintiffs' consent. The December 2002 settlement-in-principle was subject to the approval of the SEC and state regulatory authorities and required finalization of terms and documentation, so a trier of fact could find it was not a binding contract (see...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
