Stovall v. New York Indemnity Co.

A decree was rendered by the Chancellor in this cause-for complainants, which was affirmed by the Court of Appeals. Petition for certiorari filed by the defendant, New York Indemnity Company, was granted by this court, and the cause has been presented in oral argument.

The New York Indemnity Company issued a policy of automobile liability insurance to Wm. E. Moore Dry Goods Company, Incorporated, covering a number of automobiles owned by that Company, as well as automobiles owned by officers and salesmen of that Company. The policy contains a clause providing, “The insolvency or bankruptcy of…