G-I HOLDINGS, INC.; Samuel J. Heyman, Appellants
v.
RELIANCE INSURANCE COMPANY; Great American Insurance Company; Hartford Fire Insurance Company; New York Property/Casualty Insurance Security Fund; New Jersey Property-Liability Insurance Guaranty Association; Twin City Fire Insurance Company.
United States Court of Appeals, Third Circuit.https://leagle.com/images/logo.png
Argued January 29, 2009.
Opinion Filed: October 26, 2009.
As Amended December 4, 2009.
Rehearing Denied December 4, 2009.
Attorney(s) appearing for the Case
Anthony Bartell, Esquire, McCarter & English, Newark, NJ, Stephan G. Weil, Esquire, Jerold Oshinsky, Esquire (Argued), Washington, DC, for Appellants.
Arnold R. Gerst, Esquire, Brad M. Weintraub, Esquire, Weiner Lesniak, Parsippany, NJ, Lawrence J. Bistany, Esquire (Argued), Celestine M. Montague, Esquire, White & Williams, Philadelphia, PA, for Appellees.
Before: SCIRICA, Chief Judge, AMBRO, and SMITH, Circuit Judges.
United States Court of Appeals, Third Circuit.
OPINION OF THE COURT
AMBRO, Circuit Judge.
G-I Holdings, Inc. ("G-I")1 purchased from Reliance Insurance Company a policy covering claims made against G-I's directors and officers between July 1999 and July 2002. Shortly after the policy was issued, Reliance encountered financial difficulties. In the summer of 2000, Hartford Fire Insurance Company2 took over claims administration for Reliance. Hartford...
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