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BERMUDA TRUST COMPANY LIMITED v. AMEROPAN OIL CORPORATION

266 A.D.2d 251 (1999)

698 N.Y.S.2d 691

BERMUDA TRUST COMPANY LIMITED, as Trustee of the CINQ TRUST, Appellant, v. AMEROPAN OIL CORPORATION, Respondent.

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

Decided November 8, 1999.

Ordered that the order and judgment is affirmed, with costs.

Pursuant to the doctrine of equitable subrogation, "`[w]here property of one person is used in discharging an obligation owed by another or a lien upon the property of another, under such circumstances that the other would be unjustly enriched by the retention of the benefit thus conferred, the former is entitled to be subrogated to the position of the obligee or lienholder'" (King v Pelkofski,

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