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CITYTRUST v. ATLAS CAPITAL CORP.

173 A.D.2d 300 (1991)

Citytrust, Respondent, v. Atlas Capital Corporation, Appellant

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

May 16, 1991

Plaintiff, Citytrust, a banking corporation, in an attempt to obtain more business, sought defendant Atlas Capital Corporation's assistance and was introduced by Atlas to Suraj P. Duggal, president and principal shareholder of DDDDC Corporation (4D) engaged in the importing and sale of women's garments. Plaintiff gave a $300,000 line of credit to 4D secured by anticipated accounts receivable and other collateral. Three months before this, Atlas had entered a separate agreement...

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