American Re-Insurance Co. v. MGIC Investment Corp.

Defendants filed these consolidated interlocutory appeals from orders denying their motions to: (1) stay all court proceedings against them pending completion of arbitration proceedings ordered by the Supreme Court of the State of New York, and (2) vacate the orders allowing plaintiff to deposit certain funds in an interest bearing account with a court approved trustee. On appeal, defendants contend that the denial of their motions was erroneous and should be reversed.

The following facts, appearing in the record, are pertinent to the disposition of this appeal.

On September 14, 1970, plaintiff…