National Union Fire Insurance Co. of Pittsburgh v. Official Unsecured Creditors' Committee of Technical Equities Corp. (In Re Technical Equities Corp.)

OPINION

JAMES R. GRUBE, Bankruptcy Judge.

I. INTRODUCTION.

Before the court are plaintiff and defendant’s cross-motions seeking a determination of the amount National Union Fire Insurance Company of Pittsburgh, P.A. (“National Union”) must deposit in the court’s registry to satisfy its liability in this interpleader action. The motions seek an end to the years of litigation between National Union and eight plaintiff groups (“Claimants”).

A. Factual and Procedural Background.

Technical Equities Corporation (“Technical Equities”) was in the business, among others, of providing an assortment of…