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WELLSPRING CAPITAL MGT. LLC v. IRONSHORE SPECIALTY INS. CO.

Index No. 653517/20. Appeal No. 15579. Case No. 2021-02864.

203 A.D.3d 621 (2022)

162 N.Y.S.3d 733

2022 NY Slip Op 02083

Wellspring Capital Management LLC, Respondent, et al., Plaintiffs, v. Ironshore Specialty Insurance Company, Appellant, et al., Defendants.

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

Decided March 24, 2022.

Attorney(s) appearing for the Case

Hangley Aronchick Segal Pudlin & Schiller, and Ansa Assuncao, LLP, White Plains (Ronald P. Schiller of counsel), for appellant.

Adrian & Associates, LLC, New York (James M. Adrian of counsel), for respondent.

Concur—Gische, J.P., Mazzarelli, Friedman, González, Mendez, JJ.

In this insurance coverage dispute, Wellspring Capital seeks a declaration of insurance coverage in connection with two underlying actions filed in South Carolina and Delaware, in which Wellspring Capital and certain officers and directors of SportCo Holdings, Inc. (SportCo) are defendants. Ironshore issued a Capital Portfolio Company insurance policy to SportCo, which policy identifies Wellspring Capital as SportCo's "Private Equity Sponsor," and under the "Private Equity...

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