Leavitt-Berner Tanning Corp. v. American Home Assurance Co.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Mikoll, J.
The facts underlying these two actions are as follows. Leavitt-Berner Tanning Corporation (hereinafter Leavitt-Berner) obtained a $400,000 loan from State Bank of Albany (hereinafter Norstar). The loan was secured by Leavitt-Berner’s build*201ings, machinery, fixtures and accounts receivable. Leavitt-Berner was required, under the agreement, to maintain adequate fire insurance for the collateral which secured the loan. It secured two policies: the first policy (No. MOP4590143) provided fire insurance for Leavitt-Berner’s North Perry Street and Townsend Avenue plant…
2Cases cited6 opinions
- George Backer Management Corp. v. Acme Quilting Co.New York Court of Appeals · 1978
- Oathout v. JohnsonAppellate Division of the Supreme Court of the State of New York · 1982
- Ogdensburg Building Supply, Inc. v. Lumber Mutual InsuranceAppellate Division of the Supreme Court of the State of New York · 1984
- Slutzky v. GallatiAppellate Division of the Supreme Court of the State of New York · 1983
- 981 Third Avenue Core. v. BeltraminiAppellate Division of the Supreme Court of the State of New York · 1985
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3Cited by19 opinions
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- Vollbrecht v. JacobsonAppellate Division of the Supreme Court of the State of New York · 2007
- Williams v. Progressive Northeastern InsuranceAppellate Division of the Supreme Court of the State of New York · 2007
- Herron v. Essex InsuranceAppellate Division of the Supreme Court of the State of New York · 2006
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