Legal Opinion
Chelsea National Bank v. Lincoln Plaza Towers Associates
Appellate Division of the Supreme Court of the State of New York
Decided April 21, 1983PublishedCited by 10 opinions
1Opinion of the Court
OPINION OF THE COURT
Fein, J.
Plaintiff sues to recover on a defaulted loan of $100,000 to Lincoln Plaza, Inc. (LPI) by proceeding on a continuing guarantee made by defendant Lincoln Plaza Towers Associates (Associates), a limited partnership, one of whose two general partners was Marvin Greenfield, president of LPI. The other general partner was LPT Corporation (LPT).
Greenfield was utilizing LPI to develop property the corporation leased on West 62nd Street in Manhattan. Defendant Associates was subsequently formed in 1971 for the purpose of providing supplemental financing for the project,…
2Cases cited2 opinions
- Ford v. Unity HospitalNew York Court of Appeals · 1973
- First National Bank v. FarsonNew York Court of Appeals · 1919
3Cited by10 opinions
- Tsakos Shipping & Trading, S.A. v. Juniper Garden Town Homes, Ltd.California Court of Appeal · 1993
- In Re Elsa Designs, Ltd.United States Bankruptcy Court, S.D. New York · 1993
- Oriental Commercial & Shipping Co. v. Rosseel, N.V.District Court, S.D. New York · 1988
- C.E. Towers Co. v. Trinidad & Tobago (BWIA International) Airways Corp.District Court, S.D. New York · 1995
- Consumers Subscription Center, Inc. v. Web Letter Co.District Court, E.D. New York · 1985
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