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SCANDINAVIAN BANK SWITZERLAND v. LOW

139 A.D.2d 459 (1988)

Scandinavian Bank Switzerland, Also Known as Banque Scandinave En Suisse, Appellant, v. Sonja Low, Respondent, et al., Defendant

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

April 26, 1988

In New York City, on or about May 11, 1987, Sotheby Parke Bernet, Inc. (Sotheby) sold, on behalf of Ms. Sonja Low (Ms. Low), a painting for approximately $3,520,000. Following that sale, Scandinavian Bank Switzerland (plaintiff) commenced, by summons and complaint, an action against Sotheby, Ms. Low, and other defendants to either recover the painting or the proceeds from its sale, upon the basis that the painting had been part of the collateral pledged for a defaulted $6...

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