1230 Park Associates, LLC v. Northern Source, LLC
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
Order, Supreme Court, New York County (Edward H. Lehner, J.), entered May 18, 2007, which, to the extent appealed from as limited by the briefs, denied plaintiffs’ motion for summary judgment, unanimously reversed, on the law, with costs, and the motion granted, declaring defendant’s loans null and void and directing return of the collateral and cancellation of the UCC financing statement, and the matter remanded for further proceedings.
Stanley Soltzer, part owner of plaintiffs, had no authority to enter into the relevant loan transactions with defendant on plaintiffs’ behalf. To the…
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