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VALLEY SPACE THEATRE CORP. v. NEW VALLEY DEV. CORP.

251 A.D.2d 324 (1998)

673 N.Y.S.2d 720

Valley Space Theatre Corp., Appellant, v. New Valley Development Corp., et al., Respondents

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

June 1, 1998

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

The plaintiff brought this action pursuant to RPAPL article 15 to vacate a tax lien sale of the subject property. In May 1993 the plaintiff entered into an agreement whereby it agreed to "terminate and discontinue with prejudice" the action upon the acquisition by the defendant New Valley Development Corp. (hereinafter New Valley) of the subject property. In July 1996 New Valley purchased the...

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