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EASTBANK v. MALNEUT REALTY CORP.

189 A.D.2d 685 (1993)

Eastbank, N. A., Respondent, v. Malneut Realty Corp., Appellant, et al., Defendants

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

January 19, 1993

The proceeds of the mortgage were received by an officer of the defendant corporation and used primarily to replenish the corporate account and pay corporate debts; such being the case, the defendant corporation must repay plaintiff (see, Manufacturers Hanover Trust Co. v Sumande Shipping Corp., 48 A.D.2d 775, affd 39 N.Y.2d 860

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