NATIONAL LOAN INVESTORS, L.P. v. MEHTA


284 A.D.2d 252 (2001)

726 N.Y.S.2d 560

NATIONAL LOAN INVESTORS, L.P., Respondent, v. HARENDRA MEHTA, Appellant, et al., Defendants.

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

Decided June 26, 2001.


Plaintiff sues as assignee of a promissory note previously assigned by the Resolution Trust Corporation. Defendant Harendra Mehta, an unconditional guarantor on the note, seeks to avoid liability on the grounds, inter alia, that plaintiff's suit is time-barred, and precluded by order of the United States Bankruptcy Court. However, plaintiff, having taken the note as a successor in interest to the Resolution Trust Corporation, is entitled to the benefit of the Federal...

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