WALTHER v. BANK OF NEW YORK

No. 89 Civ. 2229 (MBM).

772 F.Supp. 754 (1991)

Roger O. WALTHER, Plaintiff, v. The BANK OF NEW YORK, Defendant.

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

August 22, 1991.


Attorney(s) appearing for the Case

Sidney Dickstein, Ira R. Mitzner and Laura A. Vikander, Dickstein Shapiro & Morin, New York City, for plaintiff.

Christine B. Cesare and Alfred W.J. Marks, Emmet, Marvin & Martin, New York City, for defendant.


OPINION AND ORDER

MUKASEY, District Judge.

James Joy and plaintiff Roger Walther each guarantied a loan made in 1986 by defendant The Bank of New York ("the Bank") to Real Estate Research Corporation ("RERC") and each secured his guaranty by pledging shares in AIFS, Inc., a publicly traded company. The security agreements that Joy and Walther each executed in connection with their respective pledges provided that the collateral would secure present as well...

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