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AMER BANK v. INTERMODULEX

74 A.D.2d 218 (1980)

American Bank & Trust Company, by Federal Deposit Insurance Corporation, as Receiver, et al., Appellants-Respondents, v. Intermodulex NDH Corporation, Respondent-Appellant

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

April 22, 1980

Attorney(s) appearing for the Case

Sidney Kwestel of counsel (John P. Colangelo with him on the briefs; Kaye, Scholer, Fierman, Hays & Handler, attorneys), for appellants-respondents.

Raymond Polen for respondent-appellant.

MURPHY, P. J., BIRNS and MARKEWICH, JJ., concur.

BLOOM, J.

Federal Deposit Insurance Corporation (FDIC) sues both in its own name and as receiver of American Bank & Trust Company (Bank), to recover on a note executed by defendant on August 19, 1976 in the principal amount of $200,000 and payable on October 5, 1976.

On September 15, 1976, the Superintendent of Banks took possession of the business and property of the Bank pursuant to the provisions...

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