Thruway Investments v. O'Connell & Aronowitz
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtCrew Iii, J.
Appeal from a judgment of the Supreme Court (Hughes, J.H.O.), entered August 16, 2002 in Albany County, upon a decision of the court in favor of plaintiffs.
In 1983, plaintiffs Jagadish Garg and Pushpa Garg formed a limited partnership, plaintiff Thruway Investments, for the purpose of acquiring a local hotel. At or about the same time, the Gargs incorporated plaintiff P & JG Enterprises, Inc. for the purpose of operating the hotel and its restaurant. Thruway purchased the hotel and the ground lease for $2.8 million. Pursuant to the terms of the ground lease, Thruway was obligated to pay…
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