Smith Barney, Harris Upham & Co. v. Citibank

Order of the Supreme Court, New York County (Francis Pecora, J.), entered on or about August 1, 1989, which inter alia, denied plaintiff-appellant’s motion for summary judgment, (i) awarding it judgment on its first cause of action; (ii) dismissing defendant-respondent Citibank’s affirmative defenses; and (iii) dismissing the cross claims of the third-party defendants, unanimously reversed, to the extent appealed from, on the law, and the plaintiff’s motion granted, in its entirety, with costs.

Under the circumstances of this case, plaintiff-appellant Smith Barney, as drawer, has a clear…