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MARINE MIDLAND BANK v. VIRGINIA WOODS LTD.

201 A.D.2d 625 (1994)

608 N.Y.S.2d 473

Marine Midland Bank, N. A., Respondent, v. Virginia Woods Limited et al., Appellants, et al., Defendants

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

February 22, 1994

Ordered that the order is affirmed insofar as appealed from, with costs.

The defendant Virginia Woods Limited (hereinafter VWL) obtained a mortgage on certain property from the plaintiff bank for $1,300,000. That sum was borrowed in order to build condominiums on the subject property, and the plaintiff also entered into a "building loan contract" with VWL. The other appellants guaranteed payment of the debt. VWL and the...

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