Cherno v. Bank of Babylon

Plaintiff moves for summary judgment and defendant asks for like relief in its answering affidavit.

There are two causes of action remaining in the complaint. Both are for conversion, one seeking compensatory damage and the other punitive damage.

Plaintiff is an assignee for the benefit of creditors and defendant bank is a creditor and the holder of a security agreement. It is undisputed that the bank seized the assets covered by the agreement and sold them to apply on the debt. Plaintiff’s position is that the bank committed a conversion because the security agreement was a nullity. It points…