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CHEM. BANK v. LIEBMAN

50 A.D.2d 492 (1976)

Chemical Bank New York Trust Company, Dommerich Division, Appellant, v. Herbert Liebman et al., Respondents

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

January 22, 1976

Attorney(s) appearing for the Case

Kurt J. Wolff of counsel (Daniel Wallen and Stuart M. Fischman with him on the brief; Otterbourg, Steindler, Houston & Rosen, P.C., attorneys), for appellant.

Sidney Feldshuh of counsel (Richard M. Kraver with him on the brief; Feldshuh, Weinberger & Derfner, attorneys), for respondents.

STEVENS, P. J., KUPFERMAN and MURPHY, JJ., concur with CAPOZZOLI, J.; LUPIANO, J., dissents in an opinion.

CAPOZZOLI, J.

Plaintiff-appellant is a New York corporation. The defendants were either officers, directors or active in the management and operations of the business of three affiliated corporations.

On or about January 2, 1968 two of the corporations entered into factoring agreements with L. F. Dommerich & Co. Inc., the predecessor in interest to the plaintiff. The third corporation entered into...

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