UNITED STATES FIRE INSURANCE COMPANY, Plaintiff-Appellant-res, v. NINE THIRTY FEF INVESTMENTS, LLC, ET AL., Defendants-Respondents-ap

15322-15323-15324. UNITED STATES FIRE INSURANCE COMPANY, Plaintiff-Appellant-res, v. NINE THIRTY FEF INVESTMENTS, LLC, ET AL., Defendants-Respondents-ap — Strasburger & Price, LLP, Dallas (Michael Keeley of the bar of the State of New Mexico and the State of Texas, admitted pro hac vice, of counsel), for appellant-res — K&L Gates LLP, New York (Gerald A. Novack of counsel), for respondents-ap — Judgment, Supreme Court, New York County (Jeffrey K. Oing, J.), entered February 25, 2014, awarding damages to defendants, unanimously reversed, on the law, and it is declared that exclusion x of the financial institution bonds issued by plaintiff excludes coverage for defendants' losses. Appeals from order and judgment (one paper), same court and Justice, entered October 1, 2013, and order, same court (Richard B. Lowe, III, J.), entered June 22, 2011, unanimously dismissed, without costs, as subsumed in the appeals from the final judgment. The Clerk is directed to enter judgment accordingly.

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15322-15323-15324. UNITED STATES FIRE INSURANCE COMPANY, Plaintiff-Appellant-res, v. NINE THIRTY FEF INVESTMENTS, LLC, ET AL., Defendants-Respondents-ap — Strasburger & Price, LLP, Dallas (Michael Keeley of the bar of the State of New Mexico and the State of Texas, admitted pro hac vice, of counsel), for appellant-res — K&L Gates LLP, New York (Gerald A. Novack of counsel), for respondents-ap — Judgment, Supreme Court, New York County (Jeffrey K. Oing, J.), entered February 25, 2014, awarding damages to defendants, unanimously reversed, on the law, and it is declared that exclusion x of the financial institution bonds issued by plaintiff excludes coverage for defendants’ losses. Appeals from order and judgment (one paper), same court and Justice, entered October 1, 2013, and order, same court (Richard B. Lowe, III, J.), entered June 22, 2011, unanimously dismissed, without costs, as subsumed in the appeals from the final judgment. The Clerk is directed to enter judgment accordingly.

Defendants, Nine Thirty FEF Investments, LLC (FEF) and Nine Thirty VC Investments, LLC (VC), were formed to invest and trade in securities. In 2005 and 2006, VC Investments opened accounts with Bernard L. Madoff Investment Securities LLC (Madoff Securities) pursuant to “Customer Agreements” referring to Madoff Securities as “the ‘Broker.’” In 2008, VC and FEF obtained financial institution bonds from plaintiff.¹

UNITED STATES FIRE INSURANCE COMPANY, Plaintiff-Appellant-res, v. NINE THIRTY FEF INVESTMENTS, LLC, ET AL., Defendants-Respondents-ap

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