AMER. METAL v. PALLESCHI


55 A.D.2d 499 (1977)

American Metal Finishers, Inc., Respondent, v. Harry Palleschi, Appellant, et al., Respondent

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

February 2, 1977


Attorney(s) appearing for the Case

Anthony R. DiGennaro for appellant.

Jerome T. Dorfman for respondent.

HOPKINS, Acting P. J., COHALAN, DAMIANI and SHAPIRO, JJ., concur.


MARTUSCELLO, J.

The principal issue on this appeal is whether a transfer of business assets by a debtor to a designee of its secured creditor constitutes a transfer "in settlement or realization of a lien or other security interest" which is excepted from the general requirements of article 6 of the Uniform Commercial Code (Bulk Transfers) pursuant to subdivision (3) of section 6-103 of the Uniform Commercial Code. We conclude that it does and we therefore...

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