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FEDERAL DEPOSIT INS. CO. v. ROSEN

188 N.J. Super. 230 (1983)

457 A.2d 52

FEDERAL DEPOSIT INSURANCE CORPORATION, PLAINTIFF-APPELLANT, v. CHARLOTTE ROSEN, LINDA HYMAN, JANE FEDER, CHANDLER ASSOCIATES, LEONARD FEINEN AND MARY FEINEN, INDIVIDUALLY AND AS PARTNERS TRADING AS COLUMBIA PARK HOLDING ASSOCIATES, DEFENDANTS-RESPONDENTS.

Superior Court of New Jersey, Appellate Division.

Decided February 9, 1983.

Attorney(s) appearing for the Case

Paul M. Hanlon argued the cause for appellant (Schumann, Hession, Kennelly & Dorment, attorneys; Louis E. Della Torre, Jr. of counsel.)

Robert S. Feder argued the cause for respondents.

Before Judges ARD, KING and McELROY.

The opinion of the court was delivered by KING, J.A.D.

This is an appeal from the trial judge's refusal to permit the Federal Deposit Insurance Company (FDIC) to redeem a sublease assigned as mortgage security for a loan made to the sublessor. This is the procedural history.

In June 1966 Columbia Parking Holding Company, predecessor of Columbia Park Holding Associates (CPHA), subleased certain property in North...

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