Bank of New York v. Strumor

The plaintiff, a New York bank, seeks to recover the proceeds of a promissory note issued by the defendant to the plaintiffs predecessor in interest, also a New York bank. The sole question on this appeal is whether the Supreme Court properly granted the defendant’s motion to dismiss the complaint based, inter alia, on a lack of personal jurisdiction over the defendant (see, CPLR 302 [a] [1]).

Although the defendant, a New Mexico domiciliary, signed the promissory note in New Mexico, the proceeds of the note were payable in New York and were used to finance the business of a New York limited…