Phoenix Enterprises Ltd. Partnership v. Insurance Co. of North America

Order, Supreme Court, New York County (Burton S. Sherman, J.), entered July 24, 1985, which, inter alia, granted the State Division of the Lottery’s motion for summary judgment on its counterclaims, denied plaintiffs’ cross motion to stay further proceedings pending final determination of a matter in the Court of Claims, denied Insurance Company of North America’s (INA) cross motion to deposit $200,000 into court as a stakeholder and be discharged from further liability and granted summary judgment, finding that INA had properly negotiated certain letters of credit issued by Morgan Guaranty…