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KOREA COMMERCIAL BANK OF NEW YORK v. VAREN INT'L IMP.-EXP., INC.

189 A.D.2d 639 (1993)

Korea Commercial Bank of New York, Respondent, v. Varen International Import-Export, Inc., Appellant, et al., Defendants

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

January 14, 1993

In granting plaintiff-respondent bank summary judgment of foreclosure on the $350,000 mortgage it held on a four story commercial building on Manhattan's West 39th Street owned by defendant-appellant Varen International, the IAS Court correctly held that defendant-appellant Ianos, Varen's sole stockholder, is bound by the subordination agreement dated December 13, 1985. However, on the present record, there is a factual issue presented...

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