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SECURITY PACIFIC MORTG. v. HERALD CENTER LTD.

No. 87 Civ. 3628 (PNL).

726 F.Supp. 45 (1988)

SECURITY PACIFIC MORTGAGE AND REAL ESTATE SERVICES, INC., Plaintiff, v. HERALD CENTER LIMITED f/k/a Voloby Limited, Herald Center, Inc., NYL, Inc. f/k/a Greatneckers, Inc. d/b/a the New York Land Company, NYL Properties, Inc., the People of the State of New York, the City of New York, Nastasi-White, Inc., Meltzer Mechanical Contractors, Inc., Empire City Iron Works, Roth Painting Company, Inc., Central Pump Service Corp., W & W Products, Inc., David Shuldiner, Inc., Safety Lift Company, Able Sprinkler Company, Inc., Airkem-Manhattan, Inc., Robert V. Samuels, Inc., Glockhurst Corporation, N.V., New York State Tax Commission and the Republic of the Philippines, Defendants.

United States District Court, S.D. New York.

July 1, 1988.

Attorney(s) appearing for the Case

Weil, Gotshal & Manges, Michael K. Stanton, Lesley E. Goldberg, Kenneth L. Bressler, Adam L. Wekstein, Konrad L. Cailteux, New York City, for plaintiff.

Paul, Weiss, Rifkind, Wharton & Garrison, Robert S. Smith, Pamela S. Hoopes, New York City, Shereff, Friedman, Hoffman & Goodman, Andrew J. Levander, Elliot Dobin, New York City, for defendant Herald Center, Ltd.

Phillips, Nizer, Benjamin, Krim & Ballon, Perry S. Galler, Lawrence M. Sands, New York City, for defendants NYL, Inc. and NYL Properties, Inc.

Golenbock, Eiseman, Assor, Bell & Perlmutter, David J. Eiseman, New York City, for defendant Glockhurst Corp., N.V.

MEMORANDUM AND ORDER

LEVAL, District Judge.

Security Pacific Mortgage and Real Estate Services, Inc. ("Security Pacific"), mortgagee of a leasehold interest in the building at One Herald Square in New York City known as Herald Center, moves for summary judgment of foreclosure. The mortgagor Herald Center Limited ("HCL") does not contest the fact of numerous defaults on its mortgage obligations.

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