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MATTER OF U.S. CAPITAL INSURANCE COMPANY

283 A.D.2d 258 (2001)

724 N.Y.S.2d 311

In the Matter of the Liquidation of U.S. CAPITAL INSURANCE COMPANY. NEIL D. LEVIN, as Superintendent of Insurance of the State of New York, Respondent, v. DEERA HOMES, INC., Appellant.

Appellate Division of the Supreme Court of the State of New York, First Department.

Decided May 17, 2001.

Defendant is not entitled to the disputed security deposit amounting to $26,000, which had been previously paid over to it by the now insolvent insurer, since said property constitutes property of the insurer, and thus the Liquidator, pursuant to the order of liquidation entered by the IAS court on or about November 20, 1997 (see, Matter of Contractors Cas. & Sur. Co., 276 A.D.2d 411). Furthermore, contrary to defendant's assertion...

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