LARO, INC. v. CHASE MANHATTAN BANK (NAT. ASS'N)

No. 92 Civ. 3277(MEL).

866 F.Supp. 132 (1994)

LARO, INC., derivatively on behalf of Bay Property Associates, Plaintiff, v. The CHASE MANHATTAN BANK, (NATIONAL ASSOCIATION), Jonathan Eichner, Eichner Development Corp., Overland Construction Corp., Delcor Construction Corp., Ort, Inc., KRM Construction Inc., Rose Hill Associates, Sidney M. Johnson and Associates, and Sidney M. Johnson, Defendants.

United States District Court, S.D. New York.

October 21, 1994.


Attorney(s) appearing for the Case

Silverman, Collura & Chernis, P.C., New York City (Ronald A. Balzano, Michelle J. Cohn, of counsel), for plaintiff.

Dewey Ballantine, New York City (Jack Kaufman, Randall M. Fox, of counsel), for defendant Chase Manhattan Bank N.A.


LASKER, District Judge.

During the years 1987-1990, Chase Manhattan Bank advanced money to be used as a construction fund by Bay Property Associates ("BPA"), a partnership created in 1984 for the purpose of owning and developing a specific parcel of land in Brooklyn, New York. Laro, Inc. ("Laro"), a 50.01% limited partner in BPA, brings suit on behalf of BPA, claiming that Chase advanced these funds to BPA's general partner, Jonathan Eichner, in violation of the Racketeer...

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