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CANTOR FITZGERALD INCORPORATED v. SECURITIES

95 N.Y.2d 919 (2000)

743 N.E.2d 878

721 N.Y.S.2d 305

CANTOR FITZGERALD INCORPORATED, Appellant, v. CANTOR FITZGERALD SECURITIES et al., Respondents.

Court of Appeals of the State of New York.

Decided November 28, 2000.

Attorney(s) appearing for the Case

Slotnick, Shapiro & Crocker, L. L. P., New York City (Joshua T. Rabinowitz, Barry I. Slotnick, J. Lawrence Crocker and Gary I. Lerner of counsel), for appellant.

Skadden, Arps, Slate, Meagher & Flom, L. L. P., New York City (Jeremy A. Berman, Thomas J. Schwarz and Richard L. Parker of counsel), for respondents.

Before: Chief Judge KAYE and Judges SMITH, LEVINE, CIPARICK, WESLEY and ROSENBLATT concur.

OPINION OF THE COURT

MEMORANDUM.

The order of the Appellate Division should be affirmed, with costs.

Plaintiff Cantor Fitzgerald Incorporated (CFI), was the successor lessee of a 1978 lease with defendant Port Authority of New York and New Jersey for office space at One World Trade Center, New York City. Port Authority retained a total of $177,000 as a security deposit for the premises. On September 25, 1992, pursuant to an assignment of assets agreement...

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