Peoples Westchester Sav. Bank v. Firemen's Fund Ins. Co.

• Decision Date: 02 July 1984
• Parties: PEOPLES WESTCHESTER SAVINGS BANK, as Successor to Westchester County Savings and Loan Association, Respondent, v. FIREMAN'S FUND INSURANCE COMPANY, Appellant.
• Court: New York Supreme Court — Appellate Division

Page 205

477 N.Y.S.2d 205

103 A.D.2d 738

PEOPLES WESTCHESTER SAVINGS BANK, as Successor to Westchester County Savings and Loan Association, Respondent, v. FIREMAN'S FUND INSURANCE COMPANY, Appellant.

Supreme Court, Appellate Division, Second Department.

July 2, 1984.

Hendler & Murray, P.C., New York City (Michael A. Maillet and Jerome Murray of counsel), for appellant.

Smith, Ranscht, Pollock, Manos & Connors, P.C., White Plains (James P. Connors, Jr., White Plains, of counsel), for respondent.

Before THOMPSON, J.P., and BRACKEN, RUBIN and EIBER, JJ.

MEMORANDUM BY THE COURT.

In an action to recover under an insurance policy, defendant appeals from an order of the Supreme Court, Westchester County, entered April 18, 1983, which denied its motion for summary judgment dismissing the complaint.

Order reversed, on the law, with costs, motion granted, and complaint dismissed.

The policy provision under which plaintiff seeks recovery is inapplicable as a matter of law to the situation at bar, which involves an alleged theft of written instruments delivered by the insured as collateral for loans. The instruments did not "prove to have been * * * stolen" at the time the insured "acquired * * * or delivered" the instruments.