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STEINHARDT GROUP, INC. v. CITICORP

272 A.D.2d 255 (2000)

708 N.Y.S.2d 91

STEINHARDT GROUP, INC., et al., Appellants, v. CITICORP et al., Respondents.

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

Decided May 30, 2000.

In essence, plaintiffs and their subsidiaries (the plaintiffs in the companion appeal, Bristol Oaks v Citibank (272 A.D.2d 258 [decided herewith]) contracted to purchase from defendants certain low-grade assets consisting of $457 million in non-performing residential mortgage loans and parcels of residential realty repossessed through foreclosure proceedings. Anxious to remove these illiquid assets from their inventory, defendants...

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