WATERWAYS LTD. v. BARCLAYS BANK


174 A.D.2d 324 (1991)

Waterways Limited, Appellant, et al., Plaintiff, v. Barclays Bank PLC, Respondent

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

June 4, 1991


Waterways Limited (Waterways) and Knightsbridge Hotels, Ltd. (Knightsbridge) are Bermuda corporations, and Knightsbridge currently owns more than 80% of the shares of Waterways.

In February 1988, Waterways borrowed Nine Million Dollars (loan) from Barclays Bank PLC (Barclays), a British banking corporation, authorized to do business in New York, to refinance a Five Million Dollar first mortgage and to fund the improvement...

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