
    In the Matter of the Liquidation of Union Indemnity Insurance Company of New York. Royal Bank and Trust Company, Respondent, v James P. Corcoran, as Superintendent of Insurance of the State of New York, and as Liquidator of the Union Indemnity Insurance Company of New York, Appellant.
    Argued October 21,1992;
    decided November 18, 1992
    
      APPEARANCES OF COUNSEL
    
      Herzfeld & Rubin, P. C., New York City (David B. Hamm. and Herbert Rubin of counsel), and William F. Jerome, New York City, for appellant.
    
      Gibson, Dunn & Crutcher, New York City (Jerry J. Strochlic and Edward T. Ferguson, III, of counsel), and Thomas A. Harnett, New York City, for respondent.
   OPINION OF THE COURT

Order affirmed, with costs, for the reasons stated in the opinion of Justice Ira Gammerman at Supreme Court, New York County (148 Misc 2d 863), except insofar as it discusses the superseding legislation and the reasons for its enactment.

Concur: Acting Chief Judge Simons and Judges Kaye, Ti-tone, Hancock, Jr., Bellacosa and Smith.  