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LAWYERS' FUND FOR CLIENT PROTECTION v. MORGAN GUARANTY TRUST COMPANY OF NEW YORK

259 A.D.2d 597 (1999)

688 N.Y.S.2d 158

LAWYERS' FUND FOR CLIENT PROTECTION, Respondent, v. MORGAN GUARANTY TRUST COMPANY OF NEW YORK, Appellant. (And a Third-Party Action.)

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

Decided March 15, 1999.

Ordered that the judgment is affirmed, with costs.

The defendant, Morgan Guaranty Trust Company of New York (hereinafter Morgan Guaranty), converted a $101,000 check drawn on the account of Melville Fergang when it paid over the forged endorsement of the named payee (see, UCC 3-419 [1] [c]; Tonelli v Chase Manhattan Bank, 41 N.Y.2d 667). Consequently, Morgan was liable to the substituted plaintiff, the Lawyers' Fund...

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