FOUNDERS INSURANCE COMPANY LIMITED v. EVEREST NATIONAL INSURANCE COMPANY

2681, 2682, 2683, 600523/07

73 A.D.3d 402 (2010)

900 N.Y.S.2d 266

FOUNDERS INSURANCE COMPANY LIMITED, Petitioner, v. EVEREST NATIONAL INSURANCE COMPANY et al., Appellants. GREAT AMERICAN INSURANCE COMPANY, Nonparty Respondent.

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

Decided May 4, 2010.


In the instant special proceeding against respondents and US Bank, N.A., as stakeholder and trustee, petitioner sought a preliminary injunction to enjoin respondents from drawing down on a $32,000,000 trust account created for their benefit under the parties' reinsurance agreement pending the outcome of the arbitration of a dispute between the parties concerning the agreement. Following a hearing, petitioner's motion for a preliminary injunction was granted, and ultimately...

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