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FELDMAN v. GRANT

213 A.D.2d 340 (1995)

625 N.Y.S.2d 7

Marvin Feldman, Respondent, v. Maurice G. Grant et al., Appellants, et al., Defendants

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

March 30, 1995

It is clear from the record that New Horizons Realty, Inc., the purported corporate borrower under the loan agreement is non-existent. It was never created. The reason for the failure to form this corporation is not established in the record. This is not a situation where the corporate form was used to shield from usury a loan to an individual for personal debts as in Schneider v Phelps (41 N.Y.2d 238

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