N.Y. Judge Stays Welding Rod Insurers' Declaratory Judgment Action

NEW YORK - Citing a parallel federal proceeding that has been filed in Pennsylvania, a state court judge in New York has stayed a welding rod declaratory judgment action filed on behalf of a company that was among several that insured welding rod manufacturer Techalloy. Century Indemnity Co. v. Techalloy Co. Inc., et al., No. 107314/05 (N.Y. Sup. Ct., New York Cty.).

Justice Judith J. Gische of the New York Supreme Court issued the stay on Feb. 16 after determining that a state guaranty fund, whose involvement is critical to allocation formulae in both cases, is clearly subject to the …