5303 Realty Corp. v. O & Y Equity Corp.

Fein and Kassal, JJ.,

dissent in a memorandum by Kassal, J., as follows: We find ourselves in disagreement with the determination by the majority and with the departure from the legal principles, recently expressed by us only five months ago, in Chambi v Navarro, Vives & Cia (95 AD2d 667). In Chambi, plaintiff, on allegations of fraud, sought to recover shares of stock of Second 40th Realty Corp., owner of premises located at 244-250 East 40th Street, which shares had been pledged as collateral for a loan made by the defendants. When plaintiff defaulted, Navarro purchased the stock at a…