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MATTER OF LIPTON

152 Misc.2d 55 (1991)

In the Matter of The Estate of Michael C. Lipton, Deceased.

Surrogate's Court, New York County.

June 3, 1991

Attorney(s) appearing for the Case

Keenan & Pedersen (John L. Killea of counsel), for Apple Bank for Savings. John J. Connolly and Herbert Walker for Public Administrator. John C. Schnaufer for Lowell Hotel Associates.

EVE PREMINGER, S.

At issue in this insolvent estate are the rights of a subordinate secured lienor upon the sale of the encumbered property by the Public Administrator.

The principal asset of the decedent's estate, apart from minor items of tangible personalty, is a cooperative apartment in which the decedent resided. That interest was encumbered by two liens: a primary lien of $287,950 to secure a...

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