National Bank of North America v. Flushing National Bank

Order, Supreme Court, New York County, entered July 11, 1978, denying plaintiff’s motion for summary judgment, unanimously affirmed, with costs and disbursements. Cross appeal, unanimously dismissed, without costs or disbursements, in view of defendant’s failure to cross-move for summary judgment. In this action between banks, plaintiff sues to compel redemption of four certificates of deposit issued by defendant to its customer, Fashion Wear Realty, and held by plaintiff as security for a loan to Fashion. Defendant claims a right of setoff against the certificates for loans which it advanced…