Gadinsky v. Mellon Bank, N.A.

This is an appeal by the plaintiffs Edward Gadinsky and Gadco Ocala 202, Inc. from a final order dismissing their breach of contract claims against the defendant Mellon Bank, N.A. Contrary to the plaintiffs’ arguments, we agree with the trial court that the contract claims failed to state a cause of action for breach of the collateral agreement between the parties given to secure a portion of a loan made by the bank to Garden East Plaza, Ltd.; we accordingly affirm.

The collateral agreement provided that upon payment of a $1.5 million secondary portion of a two-stage loan to the defendant…