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IN RE LTC HOLDINGS, INC.

Case No.: 14-11111 (CSS) (Jointly Administered) Adv. No.: 15-51889 (CSS) Adv. No.: 16-51036 (CSS) (consolidated with Adv. No. 15-51889).

597 B.R. 565 (2019)

IN RE: LTC HOLDINGS, INC., et al., Debtors. Alfred T. Giuliano, Chapter 7, Trustee, Plaintiff, v. The Insurance Company of the State of Pennsylvania, Defendant. Alfred T. Giuliano, Chapter 7, Trustee, v. The Insurance Company of the State of Pennsylvania, Lexon Surety Group LLC d/b/a Lexon Insurance Company and Bond Safeguard Insurance Company, Defendant.

United States Bankruptcy Court, D. Delaware.

Signed February 4, 2019.

Attorney(s) appearing for the Case

Klehr Harrison Harvey Branzburg LLP, Richard M. Beck , 919 Market Street, Suite 1000, Wilmington, DE 19801, and Chapman and Cutler LLP, David T. Audley , Michael T. Benz , 111 West Monroe Street, Chicago, Illinois 60603, Counsel for BMO Harris Bank, N.A.

Whiteford Taylor & Preston LLC, Thomas J. Francella, Jr. , 405 North King Street 500, Wilmington, DE 19801, and Chiesa Shahinian & Giantomasi PC, Armen Shahinian , Andrew S. Kent , Scott A. Zuber , One Boland Drive, West Orange, NJ 07052, Counsel for the Insurance Company of the State of Pennsylvania.

Fox Rothschild LLP, Seth A Niederman , 919 Market Street, Suite 300, Wilmington, DE 19899-2323, and Michael G. Menkowitz , William H. Stassen , Dana S. Katz , 2000 Market Street, 20th Floor, Philadelphia, PA 19103-3222, Counsel for Alfred T. Giuliano, Chapter 7 Trustee for the Estate of LTC Holdings, Inc., et al.,

OPINION

INTRODUCTION

Subrogation allows a surety to step into the shoes of its obligee. However, subrogation need not permit the surety to step into these shoes when an obligee is still wearing them. Here, a surety moves for summary judgment on its ability to do just that. In opposition, the...

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