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M & B JOINT VENTURE, INC. v. LAURUS MASTER FUND, LTD.

49 A.D.3d 258 (2008)

853 N.Y.S.2d 300

M & B JOINT VENTURE, INC., Respondent, v. LAURUS MASTER FUND, LTD., et al., Appellants, et al., Defendants.

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

Decided March 4, 2008.

Plaintiff claims an equitable lien in the face of its failure to obtain an allegedly agreed-upon mortgage to secure a $490,000 bridge loan it extended to defendant Penthouse International, Inc., in connection with the refinancing of the latter's townhouse, which mortgage was intended to be secondary to Laurus's $24 million consolidated first mortgage. There was a basis for the notice of pendency (see 5303 Realty Corp. v O & Y Equity Corp., 64 N...

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