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THE CIT GROUP/EQUIP. FIN., INC. v. STARR SURPLUS LINES INS. CO.

Index No. 654448/18. Appeal No. 14361-14361A-14361B. Case No. 2020-04601.

198 A.D.3d 505 (2021)

152 N.Y.S.3d 587

2021 NY Slip Op 05660

The CIT Group/Equipment Financing, Inc., Respondent, v. Starr Surplus Lines Insurance Company et al., Appellants.

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

Decided October 14, 2021.

Attorney(s) appearing for the Case

Clyde & Co US LLP, New York ( Christopher Carlsen of counsel), for appellants.

Blank Rome LLP, New York ( Robyn L. Michaelson of counsel) and Omid Safa, of the bar of the District of Columbia, admitted pro hac vice, for respondent.

Concur—Gische, J.P., Moulton, González, Kennedy, Scarpulla, JJ.

In this dispute in which plaintiff seeks insurance coverage for an airplane it owned and which Brazil's Federal Revenue Secretariat (FRS) confiscated from its lessee, Supreme Court correctly concluded that plaintiff's loss occurred during the 2014-2015 policy year. While the FRS issued a confiscation order during the 2013-2014 policy year, the confiscation order was subsequently suspended by a Brazilian court pending the outcome of litigation challenging it and plaintiff...

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