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KEY LEASE CORP. v. MFRS. HANOVER TRUST CO.

117 A.D.2d 560 (1986)

Key Lease Corporation, Respondent, v. Manufacturers Hanover Trust Company, Appellant

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

February 27, 1986

The essential facts are not in dispute. Between September 1982 and February 1983 the respondent-appellant Manufacturers Hanover Trust Company (MHT) loaned $5,893,178 to David Roth. Mr. Roth executed or guaranteed payment on nine demand notes, each of which was cross-collateralized by all of Roth's property held by MHT, consisting of shares of common stock, and shares and a proprietary lease in a cooperative apartment, then worth in total approximately $3 million.

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