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DABBAH SECURITIES CORPORATION v. CROESUS CAPITAL CORPORATION

297 A.D.2d 531 (2002)

747 N.Y.S.2d 82

DABBAH SECURITIES CORPORATION, Appellant, v. CROESUS CAPITAL CORPORATION, Defendant, and NORTHWEST CAPITAL PARTNERS, L.L.C., et al., Respondents.

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

Decided September 17, 2002.

On or about February 3, 1999, defendant Croesus Capital Corporation (Croesus) deposited 500,000 shares of defendant Eclipse Entertainment Group, Inc. (Eclipse) in an account at plaintiff Dabbah Securities Corporation (Dabbah) pursuant to a margin agreement executed by Dabbah, a securities intermediary, nonparty Investec/Ernst & Co. (Ernst), Dabbah's clearing agent, and Croesus. Croesus, upon depositing the shares, delivered Certificate No. 1257 (the Certificate) to Dabbah...

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