CANTOR FITZGERALD INCORPORATED v. CANTOR FITZGERALD SECURITIES


268 A.D.2d 324 (2000)

701 N.Y.S.2d 407

CANTOR FITZGERALD INCORPORATED, Appellant, v. CANTOR FITZGERALD SECURITIES et al., Respondents. CANTOR FITZGERALD INCORPORATED, Respondent, v. CANTOR FITZGERALD, L.P., Appellant. (And Another Action.)

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

Decided January 20, 2000.


This dispute arises out of the acquisition of the assets and assumption of liabilities of plaintiff Cantor Fitzgerald Incorporated by defendant counterclaimant Cantor Fitzgerald, L.P. With regard to the appeal by the corporate plaintiff, we agree with the reasoning of Supreme Court in its grant of summary judgment to defendant partnership. An agreement to assign all assets will ordinarily include a security deposit, and exemption of the "lease agreement" from the assets assigned...

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