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MILLENNIUM v. SELECT INS. CO.

24 Misc.3d 212 (2009)

MILLENNIUM PARTNERS, L.P., Plaintiff, v. SELECT INSURANCE COMPANY et al., Defendants.

Supreme Court, New York County.

Decided March 9, 2009.

Attorney(s) appearing for the Case

Edwards Angell Palmer & Dodge LLP, New York City (John D. Hughes III of counsel), for Select Insurance Company, defendant.

Bleakley Platt & Schmidt LLP, White Plains (Richard Markert of counsel), for Twin City Fire Insurance Company, defendant.

Lowey Dannenberg Cohen & Hart P.C., White Plains (Stephen Lowey of counsel), for plaintiff.

OPINION OF THE COURT

MARCY S. FRIEDMAN, J.

In this action for alleged breach of an insurance contract, plaintiff Millennium Partners, L.P., sues its insurer, defendant Select Insurance Company, to recover defense costs that Millennium paid in connection with the settlement of public investigations against it for "market timing" of mutual funds. Millennium incurred defense costs of over $19 million, but seeks reimbursement up to the policy limit of $10 million...

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