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MORGAN, OLMSTEAD, KENNEDY & GARDNER, INC. v. FEDERAL INS. CO.

No. 84 Civ. 1696 (WCC).

637 F.Supp. 973 (1986)

MORGAN, OLMSTEAD, KENNEDY & GARDNER, INCORPORATED, Plaintiff, v. FEDERAL INSURANCE COMPANY, Defendant. FEDERAL INSURANCE COMPANY, Third-Party Plaintiff, v. Victor SCHIPA (a/k/a Vittorio Schipa), Girard Wilde & Company, Incorporated, Carlisle Institutional Services, Inc., Moseley, Hallgarten, Eastabrook & Weeden, Incorporated, Securities Settlement Corporation, United States Trust Company of New York, and Bruce Hintze, Third-Party Defendants.

United States District Court, S.D. New York.

June 20, 1986.

Attorney(s) appearing for the Case

Jacobs Persinger & Parker, New York City, for plaintiff; Irving Parker, Maxwell E. Cox, Joseph E. Gasperetti, of counsel.

Hendler & Murray, P.C., New York City, for defendant; Kenneth W. Malamy, Peter A. Ragone, of counsel.

OPINION AND ORDER

WILLIAM C. CONNER, District Judge:

Plaintiff Morgan, Olmstead, Kennedy & Gardner, Incorporated ("Morgan Olmstead") brought this action against Federal Insurance Corporation ("FIC") seeking indemnity under a fidelity bond for losses Morgan Olmstead sustained as a result of the allegedly fraudulent and dishonest acts of one of its employees. This matter is now before the Court on FIC's motion for judgment on the pleadings, or in the alternative...

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