Chemical Bank v. Flushing Savings Bank

— Order and judgment, Supreme Court, New York County (Walter Schackman, J.), entered on or about May *47418, 1988 and entered June 6, 1988, respectively, granting plaintiffs’ motion for partial summary judgment in the amount of $1,487,677.90, unanimously reversed, on the law, and the motion for partial summary judgment denied and the judgment vacated, with costs.

Plaintiffs, three of the participants in a construction loan agreement, challenge certain expenses and interest on expenses deducted from their pro rata shares of the loan proceeds by the defendant, a participant in the agreement and lead…