Asseng v. Arbacas

OPINION OF THE COURT

Robert W. Doyle, J.

This matter arose out of a motor vehicle accident which oc*817curred. on April 12, 1994. This action was subsequently settled pursuant to a release executed by the plaintiffs and stipulation of settlement dated October 26, 1998. The stipulation provides “the within action is settled on the following terms: By fixing the settlement amount in the amount of $17,500, which amount is to be recommended for allowance to the court, pursuant to the New York State Insurance Law, by petition of the Superintendent of Insurance as liquidator on the condition that where…