CHU v. HSUNG J. CHUANG


262 A.D.2d 160 (1999)

691 N.Y.S.2d 524

JOSEPH CHU, Respondent, v. KUANG HSUNG J. CHUANG, Also Known as JOSEPH CHUANG, Appellant. NEW YORK GUANGDONG FINANCE, INC., Respondent, v. KUANG HSUNG J. CHUANG, Also Known as JOSEPH CHUANG, Appellant.

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

Decided June 17, 1999.


Defendant fails to adduce facts supporting his claim that the guarantees in issue were part of a fraudulent scheme to deprive him of his bank building. All that appears is that defendant, a banker with law degrees, faced with an imminent foreclosure of the building, agreed to an arrangement that, structured as a sale to plaintiffs in consideration of a $3 million loan and a leaseback with an option to purchase, enabled him to retain possession of the building for several...

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