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FIRST NAT'L BANK OF DOWNSVILLE v. HIGHLAND HARDWOODS, INC.

98 A.D.2d 924 (1983)

First National Bank of Downsville, Appellant, v. Highland Hardwoods, Inc., et al., Defendants, and General Dimension Lumber Services, Ltd., et al., Respondents. (Action No. 1.) First National Bank of Downsville, Appellant, v. Otsego Lake Lumber Services, Ltd., et al., Respondents, et al., Defendants. (Action No. 2.)

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

December 29, 1983

Plaintiff First National Bank of Downsville had provided financing for a number of years for defendant corporations Highland Hardwoods, Inc. (Highland) and Catskill Mills, Inc. (Catskill), which were engaged in the production of finished wood products. Both corporations were owned and controlled by defendant Robert T. Schuermann. The principal debt owed to plaintiff is secured by a security interest in the inventory of the two corporations...

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