360 West 11th LLC v. ACG Credit Co. II

Order, Supreme Court, New York County (Karla Moskowitz, J.), entered January 29, 2007, which granted plaintiffs’ motion for preliminary injunctive relief to the extent of directing defendant to hold $200,000 in escrow, unanimously modified, on the law and the facts, the escrow amount increased to $572,000 on condition that plaintiffs post a $100,000 undertaking therefor, and otherwise affirmed, without costs.

Since the purpose of a preliminary injunction is to maintain the status quo pending a hearing on the merits, rather than to determine the parties’ ultimate rights (see Matter of 35 N.Y.…