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GROSECLOSE v. MCHTS. NAT. BANK

71 Misc.2d 111 (1972)

C. Edward Groseclose, Plaintiff, v. Merchants National Bank & Trust Company of Syracuse, Defendant. David L. Shinaman, Plaintiff, v. Merchants National Bank & Trust Company of Syracuse, Defendant.

Supreme Court, Special Term, Onondaga County.

July 6, 1972

Attorney(s) appearing for the Case

Coulter, Fraser, Carr, Ames & Bolton for plaintiffs. Melvin & Melvin for defendant.

JOHN R. TENNEY, J.

Plaintiffs Edward Groseclose and David L. Shinaman are minority bondholders of A.C. Leasing, Inc., holding about 15% of the outstanding bonds. The bonds were purchased September 7, 1962, and were due January 1, 1966. They are to pay interest at 7% per annum payable semiannually commencing from April 18, 1961. The bonds are secured by a mortgage deed of trust from A.C. Leasing, Inc. to Merchants National Bank & Trust Company of Syracuse...

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