Morgan Stanley Group, Inc. v. New England Insurance

FINDINGS OF FACT AND CONCLUSIONS OF LAW

STEIN, District Judge.

The U.S. Court of Appeals for the Second Circuit remanded the above-captioned action to this Court for fact-finding regarding the scope of coverage of an insurance policy held by plaintiffs. The Court concludes that the evidence submitted by the parties fails to resolve the ambiguous language of the policy. Accordingly, the Court applies the contractual rule of contra proferentem, to construe the policy in favor of plaintiffs and enters judgment in their favor.

I. BACKGROUND

This action arises out of the efforts of plaintiffs Morgan…