Ambassador Associates v. Corcoran

Order and judgment (one paper), Supreme Court, New York County (David B. Saxe, J.), entered July 6, 1989, denying plaintiffs’ motion for summary judgment and granting defendant the Home Insurance Company’s cross motion for summary judgment, to the extent of declaring that the terms of a certain insurance policy do not require said defendant to, inter alia, "drop down” coverage for a loss of less than $11,000,000, unanimously affirmed, with costs. Order of the same court, entered January 5, 1990, denying plaintiffs’ motion for renewal and/or reargument, unanimously affirmed, without costs.

A…