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BAZINET v. KLUGE

14 A.D.3d 324 (2005)

788 N.Y.S.2d 77

EDWARD BAZINET, Plaintiff, v. GALINA KLUGE, Individually and as Executrix of MICHAEL KLUGE, Deceased, Respondent, and SAMUEL J. REISER, Appellant. (And a Third-Party Action.)

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

January 6, 2005.

Defendant Reiser, an attorney, acted as escrow agent for defendant Kluge in successive real estate transactions involving two cooperative apartments at 50 Central Park West in the course of which Reiser deposited $1.45 million and $1.28 million down payments in the New York branch of the Connecticut Bank of Commerce (CBC) where his firm maintained an interest on lawyer account (IOLA). Before the transactions could be concluded, and unbeknownst to any of the parties, CBC was...

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