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PURCHASE PARTNERS, LLC v. CARVER FEDERAL SAV. BANK

No. 09 Civ. 9687(JMF).

914 F.Supp.2d 480 (2012)

PURCHASE PARTNERS, LLC, Plaintiff, v. CARVER FEDERAL SAVINGS BANK, Defendant, and Mariner's Bank and Paul Schmidt, Sr., Third Party Defendants.

United States District Court, S.D. New York.

December 13, 2012.

Attorney(s) appearing for the Case

Andrew Jan Pincus , Seidman & Pincus, LLC, Hasbrouck Heights, NJ, for Plaintiff.

Antonia M. Donohue , Stanley Albert Camhi , Christopher Edward Vatter , Jaspan Schlesinger LLP, Garden City, NY, for Defendant.

OPINION AND ORDER

JESSE M. FURMAN, District Judge.

The present case involves a dispute between two banks over losses arising from a mortgage loan to a borrower who subsequently defaulted. In March 2007, Defendant Carver Federal Savings Bank ("Carver," the "Lender," or the "Defendant")—a New York Bank—made a loan totaling $6,080,000 to Shaker Gardens, Inc. ("Shaker" or the "Borrower"), a...

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