The insurer for an insolvent corporate defendant and a missing individual defendant brought a motion on short notice to intervene and appoint a litigation guardian.
The plaintiffs, who had been preparing to argue their motion for leave to proceed with a secondary market cause of action under the Securities Act, sought an adjournment due to the late service of the insurer's motion record.
The court adjourned the insurer's motion to allow the plaintiffs to respond, and consequently adjourned the plaintiffs' leave motion, as the outcome of the insurer's motion could significantly alter the defense.
