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In the Matter of the Liquidation of UNION INDEMNITY INSURANCE COMPANY OF NEW YORK. ROYAL BANK AND TRUST COMPANY, Respondent, v. JAMES P. CORCORAN, as Superintendent of Insurance of the State of New York, and as Liquidator of the Union Indemnity Insurance Company of New York, Appellant.

Appeal from the Appellate Division of the Supreme Court in the First Judicial Department, Ira Gammerman, J.

Herzfeld Rubin, P.C., New York City (David B. Hamm and Herbert Rubin of counsel), and William F. Jerome, New York City, for appellant.

Gibson, Dunn Crutcher, New York City (Jerry J. Strochlic and Edward T. Ferguson, III, of counsel), and Thomas A. Harnett, New York City, for respondent.

Order affirmed, with costs, for the reasons stated in the opinion of Justice Ira Gammerman at Supreme Court, New York County ( 148 Misc.2d 863), except insofar as it discusses the superseding legislation and the reasons for its enactment.

Concur: Acting Chief Judge SIMONS and Judges KAYE, TITONE, HANCOCK, JR., BELLACOSA and SMITH.

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MATTER OF UNION INDEMNITY INSURANCE CO. OF NEW YORK
(Nov 18, 1992)