Chemung Canal Trust Co. v. Living Better, Inc.

Appeal from that part of an order of the Supreme Court (Rumsey, J.), entered September 6, 2013 in Tompkins County, which dismissed plaintiffs second cause of action upon a decision of the court.

Defendant Malcolm A. Lane and his wife were the owners of defendant Living Better, Inc. (hereinafter LBI), which operated a Prudential Real Estate Affiliates, Inc. franchise purchased in 2006. LBI financed the purchase in part with a loan of approximately $625,000 from M&T Bank and a loan in excess of $100,000 from Prudential. The loan from M&T was secured by a lien on all of the assets of LBI. Lane…