Appellees’ Brief, Associated Community Bancorp, Inc. v. The Travelers Cos., Inc., No. 10-2239 (2d Cir.)
Dechert represents appellees St. Paul Mercury Insurance Company (“St. Paul”) and The Travelers Companies, Inc. This pending appeal arises out of an insurance dispute concerning funds from investors that one of the appellants transferred to the now-bankrupt Bernard L. Madoff Investment Securities, LLC. Appellants allege that the investors’ underlying claims against appellants are covered under a policy issued by St. Paul and that St. Paul has an obligation to pay defense costs and other amounts. This appeal presents the question whether an insolvency exclusion and a customer services exclusion in the policy issued by St. Paul bar coverage for the investors’ claims against appellants. G. Eric Brunstad will argue the case before the Second Circuit. Collin O’Connor Udell and Matthew J. Delude joined on the briefs.