ELAT, INC. v. AETNA CAS. & SUR. CO.


280 N.J. Super. 62 (1995)

654 A.2d 503

ELAT, INC., FORMERLY NAMED EXACT LEVEL & TOOL, INC., A CORPORATION DULY ORGANIZED UNDER THE LAWS OF THE STATE OF PENNSYLVANIA, PLAINTIFF-APPELLANT, v. AETNA CASUALTY AND SURETY COMPANY, A CORPORATION DULY ORGANIZED UNDER THE LAWS OF THE STATE OF CONNECTICUT, CIGNA PROPERTY AND CASUALTY INSURANCE COMPANY, A CORPORATION DULY ORGANIZED UNDER THE LAWS OF THE STATE OF CONNECTICUT, THE HOME INSURANCE COMPANY, A CORPORATION DULY AUTHORIZED UNDER THE LAWS OF THE STATE OF NEW YORK, CITY INSURANCE COMPANY, A WHOLLY-OWNED SUBSIDIARY OF THE HOME INSURANCE COMPANY, A CORPORATION DULY ORGANIZED UNDER THE LAWS OF THE STATE OF NEW JERSEY AND JOHN DOE INSURANCE COMPANIES 1-5, DEFENDANTS-RESPONDENTS.

Superior Court of New Jersey, Appellate Division.

Decided March 7, 1995.


Attorney(s) appearing for the Case

Keith E. Lynott argued the cause for appellant Elat, Inc. (McCarter & English, attorneys; Mr. Lynott, of counsel; J. Forrest Jones and Vito A. Pinto, on the brief).

Frank A. Lattal argued the cause for respondent, Aetna Casualty and Surety Company and Peter M. Papasavas argued the cause for City Insurance Company and The Home Insurance Company (Connell, Foley & Geiser, attorneys and Sheft & Sheft, attorneys; Sheldon Karasik, of counsel; Mr. Papasavas, on the brief).

Joseph E. Boury argued the cause for respondent Cigna Property and Casualty Insurance Company (O'Melveny & Myers, attorneys; Paul R. Koepff, of counsel; Mr. Boury, on the brief).

Before Judges BRODY, LONG and ARNOLD M. STEIN.


The opinion of the court was delivered by LONG, J.A.D.

From approximately 1939 to 1983, Peter Vaida was the owner of ELTM, a tool manufacturing facility he operated at an industrial site in High Bridge, New Jersey. During portions of that period, the defendant insurance companies (Aetna, Cigna, Home and City) issued insurance policies providing comprehensive general liability insurance to Elat, Inc. In January 1983, Plaintiff Elat acquired the assets of ELTM and leased...

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