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FUTTERMAN v. SOUTH AFRICAN

126 Misc.2d 90 (1984)

Philip G. Futterman, Doing Business as 605 Company, Plaintiff, v. South African Airways et al., Defendants.

Supreme Court, Special Term, New York County.

October 26, 1984

Attorney(s) appearing for the Case

Tenzer, Greenblatt, Fallon & Kaplan (Edward L. Sadowsky and Mona D. Shapiro of counsel), for plaintiff. Sidney Gottlieb for SIA Company, defendant. Brauner Baron Rosenzweig Kligler Sparber & Bauman (Alan Michigan of counsel), for South African Airways and others, defendants.

DAVID B. SAXE, J.

Does a prime tenant's surrender to the landlord of its reversionary interest in the master lease operate, in effect, as an assignment thereby triggering a takeover clause in the sublease agreement giving the sublessee the right to match any offer for the assignment of the master lease?

The essential facts are as follows:

In April, 1969, defendant SIA Company (SIA), the owner of 605 Fifth Avenue, entered into a lease of...

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