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COUNTY NATWEST SEC. CORP., USA v. JESUP, JOSEPHTHAL & CO., INC.

180 A.D.2d 468 (1992)

County Natwest Securities Corp., USA, Appellant, v. Jesup, Josephthal & Co., Inc., Also Known as Securities Settlement Corporation, et al., Respondents

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

February 11, 1992

In the underlying arbitration proceeding, petitioner County Natwest Securities Corp., USA (Natwest) is seeking to recover $4,528,000 due it from respondent Securities Settlement Corporation (SSC) under a securities loan transaction. The Supreme Court, despite finding that Natwest was "likely, if not certain, to prevail on the merits against SSC", denied petitioner's application for an order of attachment. This was error. In that...

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