McCARTHY v. SCHWALJE


234 N.J. Super. 396 (1988)

560 A.2d 1283

JOHN MCCARTHY AND MARY MCCARTHY HIS WIFE; JOHN KUNISH AND SHIRLEY KUNISH, HIS WIFE, PLAINTIFFS, v. JOSEPH SCHWALJE, ET ALS., DEFENDANTS.

Superior Court of New Jersey, Chancery Division Middlesex County.

Decided October 14, 1988.


Attorney(s) appearing for the Case

Mr. James B. Smith for defendant Joseph Schwalje.

Mr. Robert J. Cirafesi for defendant First Fidelity Bank (Wilentz, Goldman & Spitzer).

Victor A. Deutch for defendant Mandy (Deutch, Shur & Nord).


BACHMAN, J.S.C.

Robert and Rosemary Mandy and Joseph and Bernadette Schwalje formed a partnership in 1978 to own and operate a liquor store, Barry's Liquors. A series of complex financial transactions followed, and various property of the partners was used to secure financing for the venture. The partnership defaulted on its obligations, and a series of foreclosure suits was instituted.

Three mortgages remain open as of record on the Mandy property. By a determination...

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