Panella Descendants' Trust v. Northwest Bay Partners, Ltd.

Appeal from an order of the Supreme Court (Krogmann, J.), entered October 7, 2015 in Warren County, which, among other things, granted plaintiff’s motion for summary judgment.

On August 17, 2012, Frank Panella and defendants Northwest Bay Partners, Ltd. and Michael O’Brien (hereinafter collectively referred to as defendants) entered into a settlement agreement, which stipulated that defendants execute a promissory note in the amount of $1,000,000. On the same date, defendants executed a promissory note for that amount in favor of Panella that was secured by a mortgage on seven of their lots in…