District Court, E.D. North Carolina September 14, 1983, 81-391-CIV-5 (Calvert Fire Insurance v. Yosemite Insurance)

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MEMORANDUM OF DECISION

DUPREE, Chief Judge.

In this diversity action Penn Re, Inc., a North Carolina corporation, and Calvert Fire Insurance Company (Calvert), a Pennsylvania corporation, are seeking a declaration of their rights and liabilities under a contract of reinsurance issued by Penn Re on behalf of Calvert to the defendant, Yosemite Insurance Company (Yosemite), a California