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On April 19, 2004, in Water Street Leasehold LLC v. Deloitte & Touche, LLP, 2004 NY Slip Op 51260U; 5 Misc. 3d 1008A; 798 N.Y.S.2d 714; 2004 N.Y. Misc. LEXIS 1896 (Sup.Ct., N.Y. Co.) (Lowe, III, J.), the trial court upheld a complex civil complaint which alleged the defendant accountants had third party liability for fraud, negligence and gross negligence in having certified as accurate the financial statements of insurance company which became insolvent and failed to pay a $1.1 million debt under a real estate lease, and also alleged the defendant accountants of gross errors in having failed to make certain the insurance company maintained adequate reserves to cover the policies of insurance which had been issued, rev’d on other grounds, 796 N.Y.S.2d 598 (1st Dep’t June 14, 2005).