American Home Assurance Co. v. Enron Natural Gas Marketing Corp. (In Re Enron Corp.)

OPINION AND ORDER

SCHEINDLIN, District Judge.

American Home Assurance Co. (“American Home”) and Federal Insurance Co. (“Federal”) (collectively, the “Sureties”) appeal from the order of the Bankruptcy Court (Gonzalez, J.) denying summary judgment for the Sureties and dismissing the Complaint. 1 At issue is approximately $83.5 million in excess margin collateral monies (“Excess Collateral”) to which the Sureties allege they are entitled. The Bankruptcy Court concluded that the Sureties were not entitled to the Excess Collateral under either the terms of their agreement or subrogation principles.…