Legal Opinion
Albion Alliance Mezzanine Fund, L.P. v. State Street Bank & Trust Co.
New York Supreme Court
Decided April 14, 2003PublishedCited by 5 opinions
1Opinion of the Court
OPINION OF THE COURT
Herman Cahn, J.
This is an action by a group of institutional investors who allege that in order to insure repayment of a $15,000,000 loan, a bank participated in a fraud perpetrated by a corporate borrower. The bank, defendant State Street Bank and Trust Company (State Street or the bank), moves for summary judgment (CPLR 3212) dismissing the complaint.
Facts
The action arises out of the massive fraud by the principals of Sharp International Corp., who diverted over $44,000,000 from the company between 1997 and 1999. Sharp was in the business of importing and selling…
2Cases cited17 opinions
- National Westminster Bank USA v. WekselAppellate Division of the Supreme Court of the State of New York · 1987
- P.T. Bank Central Asia v. ABN AMRO Bank N.V.Appellate Division of the Supreme Court of the State of New York · 2003
- Athey Products Corporation v. Harris Bank RoselleCourt of Appeals for the Seventh Circuit · 1996
- Congress Financial Corp. v. John Morrell & Co.District Court, S.D. New York · 1992
- Sharp International Corp. v. State Street Bank & Trust Co. (In Re Sharp International Corp.)United States Bankruptcy Court, E.D. New York · 2002
12 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- In Re Enron Corp. Securities, Derivative & Erisa Lit.District Court, S.D. Texas · 2011
- CHEMTEX, LLC v. St. Anthony Enterprises, Inc.District Court, S.D. New York · 2007
- Mukamal v. General Electric Capital Corp. (In re Palm Beach Finance Partners, L.P.)United States Bankruptcy Court, S.D. Florida. · 2013
- Jebran v. LaSalle Business Credit, LLCAppellate Division of the Supreme Court of the State of New York · 2006
- Stillwater Liquidating LLC v. Net Five at Palm Pointe, LLC (In re Stillwater Asset Backed Offshore Fund Ltd.)United States Bankruptcy Court, S.D. New York · 2016