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WASSERBAUER v. MARINE BANK

92 Misc.2d 388 (1977)

Harry J. Wasserbauer et al., Individually and on Behalf of All Persons Similarly Situated, Plaintiffs, v. Marine Midland Bank — Rochester, et al., Defendants.

Supreme Court, Monroe County.

November 22, 1977

Attorney(s) appearing for the Case

K. Wade Eaton, Rene H. Reixach and John McF. Le Fevre for plaintiffs. Phillips, Lytle, Hitchcock, Blaine & Huber for Marine Midland Bank — Rochester, defendant. Harter, Secrest & Emery, defendants pro se. Nixon, Hargrave, Devans & Doyle, defendants pro se, and for Lincoln First Bank of Rochester, defendant.

LYMAN H. SMITH, J.

Plaintiffs' underlying action attacks the time-honored methodology employed by banks to recover attorneys' fees upon default judgments calculated as a percentage of the loan balances due from defaulting borrowers. Plaintiffs claim that the familiar provisions found in promissory notes and other instruments evidencing individual loans, which provide for percentage attorneys' fees in the event...

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