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PEARL-WICK CORP. v. CHASE MANHATTAN BANK

125 A.D.2d 249 (1986)

Pearl-Wick Corporation, Respondent, v. Chase Manhattan Bank, N. A., Appellant

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

December 18, 1986

In 1977, Pearl-Wick Corporation entered into a series of loan transactions with defendant Chase Manhattan Bank, N. A. (Chase) and the United States Economic Development Administration (EDA). The loan from Chase was secured by first mortgages on real estate owned by Pearl-Wick, a first lien on the machinery, equipment, inventories and office furniture at those premises and a first lien on Pearl-Wick's accounts receivable. As additional...

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