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BF HOLDINGS I, INC. v. SOUTH OAK HOLDING, INC.

251 A.D.2d 1 (1998)

673 N.Y.S.2d 645

BF Holdings I, Inc., Respondent, v. South Oak Holding, Inc., et al., Appellants, et al., Defendants

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

June 2, 1998

The IAS Court correctly estopped defendant mortgagor from asserting the purported satisfaction issued by its lender, a failed bank, in the absence of proof that such satisfaction was approved by the lender's board of directors and had been a continuously official record of the lender, as required by 12 USC § 1823 (e) (see, Federal Deposit Ins. Corp. v Central Wine & Liq., 187 A.D.2d 314, 315, citing Langley v Federal...

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