Legal Opinion
In re the Liquidation of New York Agency
New York Supreme Court
Decided August 3, 1992Published
1Opinion of the Court
OPINION OF THE COURT
Harold Baer, Jr., J.
This is an application by Bankorp Ltd. (Bankorp) for an *123order directing the Superintendent of Banks of the State of New York (Superintendent) to turn over to Bankorp some $1.6 million being held by the Superintendent as part of segregated funds in this liquidation. This decision addresses the important issue of the constitutionality of the liquidation procedures of Banking Law § 606.
BACKGROUND
On July 5, 1991, the Superintendent, together with leading banking authorities in other countries, seized the empire of the Bank of Credit and Commerce…
2Cases cited7 opinions
- City of Cleburne v. Cleburne Living Center, Inc.Supreme Court of the United States · 1985
- City of New Orleans v. DukesSupreme Court of the United States · 1976
- Blake v. McClungSupreme Court of the United States · 1898
- Northeast Bancorp, Inc. v. Board of Governors of the Federal Reserve SystemSupreme Court of the United States · 1985
- People v. . Granite State Provident Assn.New York Court of Appeals · 1900
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