Bank of New York v. Carr

OPINION OF THE COURT

Arnold N. Price, J.

In this action to foreclose a security interest consisting of a proprietary lease and shares of stock representing the ownership of a cooperative apartment, plaintiff moves for summary judgment dismissing the answer and counterclaim of defendant Union Gardens Cooperative Section I Inc. (hereinafter the cooperative corporation) and for the appointment of a Referee to compute the amount due on the underlying promissory note.

There is no dispute that the debtors, defendants Linda and Kenneth Carr, are in default of their secured obligations to plaintiff.…