Legal Opinion
JZ Smoke Shop, Inc. v. American Commercial Capital Corp.
District Court, S.D. New York
Decided March 21, 1989No. 88 Civ. 0465 (TPG)PublishedCited by 1 opinion
1Opinion of the Court
OPINION
GRIESA, District Judge.
Plaintiff JZ Smoke Shop, a tobacco shop in Nassau County, is a small business owned primarily by Joseph Zimmer. In March 1986, JZ borrowed $200,000 from defendant American Commercial Capital Corporation in a complex loan transaction. American is licensed by the Small Business Administration (SBA) as a Small Business Investment Company (SBIC). As an SBIC, American makes loans to qualifying small businesses pursuant to regulations promulgated by the SBA.
Zimmer sold his interest in JZ in May 1987, along with the real property on which the shop stood. Shortly…
2Cases cited4 opinions
- Libra Bank Ltd. v. Banco Nacional De Costa Rica, S.A.District Court, S.D. New York · 1983
- Federal Deposit Insurance Corporation v. Julius Richman, Inc., and Lenore Richman, Individually and as of the Estate of Julius RichmanCourt of Appeals for the Second Circuit · 1981
- Thelma Sanders & Associates, Inc. v. FriedmanAppellate Division of the Supreme Court of the State of New York · 1988
- La Lone v. GerberAppellate Division of the Supreme Court of the State of New York · 1985
3Cited by1 opinion
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