Legal Opinion
Broadway National Bank v. Progressive Casualty Insurance
District Court, S.D. New York
Decided October 7, 1991No. 90 Civ. 6953 (MBM)PublishedCited by 19 opinions
1Opinion of the Court
OPINION AND ORDER
MUKASEY, District Judge.
Plaintiff, Broadway National Bank (“Broadway”) sues its insurer, the Progressive Casualty Insurance Company (“Progressive”), under a Financial Institution Bond (the “Bond”), for losses sustained when credit card sales drafts deposited by a merchant customer proved uncollectible. Progressive contends that recovery is barred by two exclusionary clauses in the Bond. The parties have cross-moved for summary judgment. For the reasons set forth below, plaintiff’s motion is denied, and defendant’s motion is granted.
I
In January 1989, Broadway entered into an…
2Cases cited21 opinions
- Anderson v. Liberty Lobby, Inc.Supreme Court of the United States · 1986
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- Breed v. Insurance Co. of North AmericaNew York Court of Appeals · 1978
- Bethlehem Steel Co. v. Turner Construction Co.New York Court of Appeals · 1957
- United States Fidelity & Guaranty Co. v. AnnunziataNew York Court of Appeals · 1986
16 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Moratzka v. Visa U.S.A. (In Re Calstar, Inc.)United States Bankruptcy Court, D. Minnesota · 1993
- Berman v. ParcoDistrict Court, S.D. New York · 1997
- Maniolos v. United StatesDistrict Court, S.D. New York · 2010
- Greenwood v. KovenDistrict Court, S.D. New York · 1995
- Natwest USA Credit Corp. v. Alco Standard Corp.District Court, S.D. New York · 1994
14 more not listed; retrieve them via the Exa API.