Tilden of New Jersey, Inc. v. Regency Leasing Systems, Inc.

In an action, inter alia, to recover damages for breach of a loan and security agreement, the defendant Jerry Kessler appeals from an order of the Supreme Court, Nassau County (McCarty, J.), entered March 21, 1996, which denied his motion pursuant to Business Corporation Law § 724 for indemnification pendente lite from the defendant Regency Leasing Systems, Inc., for expenses incurred in the action.

Ordered that the order is affirmed, with costs.

Inasmuch as the action against the defendant Jerry Kessler is based upon a personal guaranty, the action is not brought against him "by reason of the…