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CADLEROCK JOINT VENTURE II, L.P. v. ADCO EQUITIES, L.P.

269 A.D.2d 251 (2000)

703 N.Y.S.2d 40

CADLEROCK JOINT VENTURE II, L.P., Appellant, v. ADCO EQUITIES, L.P., et al., Respondents.

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

Decided February 17, 2000.

Defendants in this breach of contract action were the borrower and guarantor of a promissory note issued by National Westminster Bank, USA (NatWest). Defendants defaulted, and in 1991 the Supreme Court, New York County, issued an order granting summary judgment in favor of NatWest. The judgment was never entered, because defendants and NatWest negotiated a settlement in 1992. Defendants agreed that the judgment would be entered against them if they defaulted on the terms...

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