Stay Ordered in Coltec Industries, Inc. Coverage Case.
A declaratory judgment action filed by Coltec Industries, Inc. was stayed in Federal court pending the resolution of the State Court case filed by the insurer in New York. The court noted that both cases would address the same issues. An agreement between the parties to arbitration, the advanced state of the proceedings in New York State court and considerations of judicial economy were all factors that convinced the District Court to stay the Federal action. Coltec Industries Inc. et Al. V. Continental Insurance Company, Civil Action No. 04-5718, (E.D.Pa.), 2005 U.S. Dist. LEXIS 8837, Decided May 11, 2005