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TRUSTCO BANK NEW YORK v. S/N PRECISION ENTERS., INC.

234 A.D.2d 665 (1996)

650 N.Y.S.2d 846

Trustco Bank New York, Respondent, v. S/N Precision Enterprises, Inc., et al., Appellants

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

December 5, 1996

Mikoll, J.

In December 1984, Kubar Bearings, Inc. obtained a $3,000,000 loan from Home & City Savings Bank. The loan was secured by a leasehold in real property located at 300 Jordan Road in the Town of North Greenbush, Rensselaer County. Kubar filed for bankruptcy in October 1986 and defaulted on the loan with Home & City. On July 19, 1989, Home & City commenced a foreclosure action on the property in Supreme Court. In December 1990, Bankruptcy...

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