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FOX PAINE & CO., LLC v. EQUITY RISK PARTNERS, INC.

2019-11124. Index No. 52607/14.

189 A.D.3d 1365 (2020)

134 N.Y.S.3d 811

2020 NY Slip Op 07868

Fox Paine & Company, LLC, et al., Respondents, v. Equity Risk Partners, Inc., et al., Appellants.

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

Decided December 23, 2020.

Attorney(s) appearing for the Case

Holland & Knight LLP, New York, NY ( John M. Toriello and Marc L. Antonecchia of counsel), for appellants.

Boies Schiller Flexner LLP, Armonk, NY ( Courtney R. Rockett and Jeremy C. Vest of counsel), for respondents.

Rivera, J.P., Austin, LaSalle and Connolly, JJ., concur.

Ordered that the order is affirmed, with costs.

The plaintiff Saul A. Fox founded the plaintiff Fox Paine & Company, LLC (hereinafter FPC), a private equity firm. In 2006, the defendant Equity Risk Partners, Inc. (hereinafter ERP), procured general partnership liability insurance and other excess insurance for FPC. The defendant HUB International Insurance Services, Inc., later acquired ERP. The defendants allegedly knowingly acted to benefit certain third parties...

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