| Millennium Partners, L.P. v Select Ins. Co. |
| 2009 NY Slip Op 08886 [68 AD3d 420] |
| December 1, 2009 |
| Appellate Division, First Department |
| Millennium Partners, L.P., Appellant, v Select InsuranceCompany, Respondent, et al., Defendant. |
—[*1] Edwards Angell Palmer & Dodge LLP, New York (Ira G. Greenberg of counsel), forrespondent.
Judgment, Supreme Court, New York County (Marcy S. Friedman, J.), entered March 13,2009, dismissing the complaint as against defendant Select Insurance Company, pursuant to anorder, same court and Justice, entered March 10, 2009, which granted defendant's motion forsummary judgment, unanimously affirmed, with costs. Appeal from the aforesaid orderunanimously dismissed, without costs, as subsumed in the appeal from the judgment.
As the motion court found, the findings recited in the Securities and Exchange Commission'scease and desist order to which plaintiff consented and in the assurance of discontinuance itentered into with the Attorney General of the State of New York, which provided, inter alia, forthe disgorgement by plaintiff of $148 million, "conclusively link the disgorgement to improperlyacquired funds," notwithstanding that plaintiff consented and agreed to these orders "withoutadmitting or denying the findings [t]herein" (see Vigilant Ins. Co. v Credit Suisse First Boston Corp., 10 AD3d528 [2004]). The fact that no judgments resulted from the negotiated settlements in whichthese findings were made does not affect the validity of the findings (see Reliance GroupHoldings v National Union Fire Ins. Co. of Pittsburgh, Pa., 188 AD2d 47, 55 [1993], lvdismissed in part and denied in part 82 NY2d 704 [1993]).[*2]
We have considered plaintiff's remaining contentions andfind them unavailing. Concur—Mazzarelli, J.P., Sweeny, Catterson, Freedman andRoman, JJ.[Prior Case History: 24 Misc 3d 212.]