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SCHIAVONE v. ELGOOD MAYO

105 Misc.2d 431 (1980)

Schiavone Construction Company et al., Plaintiffs, v. Elgood Mayo Corp. (a Pennsylvania Corporation) et al., Defendants. Brunel, Cochrane & Levy, Inc., Defendant and Third-Party Plaintiff, v. Continental Insurance Company, Third-Party Defendant.

Supreme Court, Special Term, New York County.

September 15, 1980.

Attorney(s) appearing for the Case

Thacher, Proffitt & Wood (Raymond S. Jackson, Jr., of counsel), for Timberland Equipment Limited, defendant. Buckley, Treacy, Schaffel, Mackey & Abbate (Eugene Schaffel and Norman D. Alvy of counsel), for plaintiffs. Carb, Luria, Glassner, Cook & Kufeld (Stephen J. Fallis of counsel), for Elgood Mayo Corp., defendant. Stanley Alter, P. C., for Brunel, Cochrane & Levy, Inc., defendant and third-party plaintiff. Hart & Hume for third-party defendant.

BENTLEY KASSAL, J.

ISSUE

May a letter of credit be substituted for an attachment undertaking?

DECISION

The defendant, Timberland Equipment Limited (Timberland), moves to terminate a temporary restraining order which restricts the transfer of cash funds from a bank account pending the hearing on a motion by the plaintiff for an order of attachment. In lieu of the attached funds,...

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