The New York Appellate Division, 3rd Department, has granted the state insurance superintendent’s request to compel disclosure of all communications by counsel for Chase Manhattan and other banks involved in a transaction that hastened the liquidation of the United Community Insurance Co.
The court, in Superintendent of Insurance of the State of New York v. Chase Manhattan Bank, 501433, also unanimously denied the banks’ motion for summary judgment, ruling that triable issues of fact remain about the transaction.
