Health-Chem Corp. v. Blank

— Orders, Supreme Court, New York County (Carol H. Arber, J.), entered March 18, 1991, which denied plaintiff’s motions for summary judgment in lieu of complaint pursuant to CPLR 3213, unanimously affirmed, without costs.

During the course of their tenure as officers of plaintiff-corporation, defendants executed non-interest bearing, demand promissory notes in connection with their purchase of stock in the plaintiff corporation. In addition to the promise to pay specified monetary amounts, each note provided it was secured by the pledge of the shares of plaintiff-corporation purchased with the…