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GILBERT v. SAFEGUARD MUTUAL INSURANCE COMPANY

Civ. A. No. 70-3423.

345 F.Supp. 732 (1972)

Harry GILBERT and Irene W. Gilbert v. SAFEGUARD MUTUAL INSURANCE COMPANY.

United States District Court, E. D. Pennsylvania.

July 26, 1972.

Attorney(s) appearing for the Case

Ronald Jay Bayer, Philadelphia, Pa., for plaintiffs.

Malcolm H. Waldron, Jr., Philadelphia, Pa., for defendant.

OPINION

LUONGO, District Judge.

Plaintiffs, Harry and Irene W. Gilbert, citizens of New York, were holders of bonds of William Penn Finance Company and Associated Acceptance Corporation in the total face amount of $17,000. The bonds were insured against loss in the event of the insolvency of either corporation by Empire Mutual Insurance Company. On September 1, 1960, William Penn and Associated Acceptance merged with Commonwealth Financial Corporation. Several...

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