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EMPIRE NAT. BANK v. 27 LEONARD ST. CORP.

46 A.D.2d 194 (1974)

Empire National Bank, Respondent, v. 27 Leonard Street Corp. et al., Appellants, et al., Defendants

Appellate Division of the Supreme Court of the State of New York, First Department.

December 9, 1974.

Attorney(s) appearing for the Case

Gerald Orseck for appellants.

Monroe R. Davis of counsel (Cooke, McBride, Davis & Greenberg, attorneys), for respondent.

MARKEWICH, J. P., LUPIANO, TILZER and LANE, JJ., concur.

Per Curiam.

David Reitman (Reitman) was the sole stockholder of the Namtier Hotel Corp. (Namtier), which operated a hotel known as the Nemerson.

Reitman executed a promissory note in the sum of $99,999.87 evidencing a loan made by the Empire National Bank (Empire) in the principal amount of $75,000, together with interest discounted at the rate of 6% per annum.

As collateral for the loan made to Reitman...

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