E.S.P. Adjustment Servs., Inc. v. Asta Group, Inc.

— Harvey, J.

Appeal from an order of the Supreme Court at Special Term (Dier, J.), entered October 17, 1985 in Albany County, which granted the motion of E.S.P. Adjustment Services, Inc., and David Rothenberg to compel John P. Hicks to release escrow funds in the amount of $75,000 to E.S.P. Adjustment Services, Inc.

E.S.P. Adjustment Services, Inc. (ESP) sold $1,000,000 of current receivables and $8,500,000 of delinquent accounts to Asta Group, Inc. (Asta) for $750,000. Pursuant to the terms of the contract, $75,000 of the purchase price was held in an escrow account, with John P. Hicks acting…