Faegre Drinker Biddle & Reath LLP, New York ( Marsha J. Indych and David F. Abernethy of the bar of the State of New Jersey and Commonwealth of Pennsylvania, admitted pro hac vice, of counsel), for The Travelers Indemnity Company, appellant.
D'Amato & Lynch, LLP, New York ( Kevin J. Windels of counsel), for National Union Fire Insurance Company of Pittsburg, PA., appellant.
Clyde & Co US LLP, New York ( Edward J. Kirk of counsel), for Certain Underwriters at Lloyd's, London, appellant.
Landman Corsi Ballaine & Ford P.C., New York ( William Ballaine of counsel), for American Alternative Insurance Corporation, appellant.
Appellate Division of the Supreme Court of New York, First Department.
Our prior order (166 A.D.3d 1 [2018]), reversed the August 14, 2017 judgment of Supreme Court in plaintiff's favor, denied plaintiffs' motion for summary judgment, and granted defendant insurers' motions for summary judgment declaring that plaintiffs were not entitled to coverage for their monetary settlement of a Securities and Exchange Commission proceeding against plaintiff Bear Sterns because the disgorgement was an uninsurable penalty...
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