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WORLD BUS. v. EURO-AM LODGING

309 A.D.2d 166 (2003)

764 N.Y.S.2d 27

WORLD BUSINESS CENTER, INC., Appellant, v. EURO-AMERICAN LODGING CORPORATION, Respondent.

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

August 28, 2003.

Attorney(s) appearing for the Case

John P. Gleason of counsel (Gleason & Koatz, attorneys), for appellant.

Catherine M. Foti and Stephen M. Juris of counsel (Morvillo, Abramowitz, Grand, Iason & Silberberg, P.C., attorneys), for respondent.

NARDELLI, J.P., TOM, SAXE and WILLIAMS, JJ., concur.

OPINION OF THE COURT

ANDRIAS, J.

This appeal arises from a complex transaction between numerous offshore corporations, many of which are controlled by a French businessman, for the sale of a Manhattan hotel of which plaintiff is the 30-year lessee of six floors. As part of the transaction, the lease was amended to provide for its cancellation or continuance contingent upon payment by defendant, the landlord, of $5,682,062 by October 15, 2001. Such payment...

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