Legal Opinion
Aspen Industries, Inc. v. Marine Midland Bank
New York Court of Appeals
Decided May 5, 1981PublishedCited by 57 opinions
1Opinion of the Court
OPINION OF THE COURT
Jasen, J.
This appeal concerns the effect of a restraining notice served upon a bank pursuant to CPLR 5222. At issue is whether a garnishee bank violates a restraining notice served upon it by disbursing funds from the account of a judgment debtor notwithstanding the fact that the bank maintains a balance in the account which is in excess of twice the amount owed on the judgment. Also involved is the interplay between the garnishee bank’s right of setoff under section 151 of the Debtor and Creditor Law and the judgment creditor’s rights under CPLR 5222.
The facts which give…
2Cases cited12 opinions
- In re General Assignment for the Benefit of Creditors of International Ribbon Mills, Ltd.New York Court of Appeals · 1975
- Wickwire Spencer Steel Co. v. Kemkit Scientific Co.New York Court of Appeals · 1944
- Industrial Commissioner v. Five Corners Tavern, Inc.New York Court of Appeals · 1979
- Sumitomo Shoji New York, Inc. v. Chemical Bank New York Trust Co.New York Supreme Court · 1965
- Brigham v. McCabeNew York Court of Appeals · 1967
7 more not listed; retrieve them via the Exa API.
3Cited by57 opinions
- Cruz v. TD Bank, N.A.New York Court of Appeals · 2013
- Benzemann v. Houslanger & Assocs., PLLCCourt of Appeals for the Second Circuit · 2019
- CSX Transportation, Inc. v. Island Rail Terminal, Inc.Court of Appeals for the Second Circuit · 2018
- Clarkson Co. Ltd. v. ShaheenDistrict Court, S.D. New York · 1982
- Aurora Maritime Co. And Medmar, Inc. v. Abdullah Mohamed Fahem & Co., the Hongkong & Shanghai Banking Corporation Limited, Garnishee-AppellantCourt of Appeals for the Second Circuit · 1996
52 more not listed; retrieve them via the Exa API.