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OVERSEAS PRIVATE INVESTMENT CORPORATION v. NAM KOO KIM

507462

69 A.D.3d 1185 (2010)

895 N.Y.S.2d 217

2010 NY Slip Op 437

OVERSEAS PRIVATE INVESTMENT CORPORATION, Respondent, v. NAM KOO KIM et al., Appellants.

Appellate Division of the Supreme Court of New York, Third Department.

Decided January 21, 2010.

Kavanagh, J.

In February 2005, defendant Nam Koo Kim (hereinafter the husband), as sole owner of Majestic Group Korea Ltd., entered into a loan agreement on behalf of the company with plaintiff to borrow $1,500,000 for the purposes of financing a "Ruby Tuesday" restaurant in South Korea. The husband and his wife, defendant Hee Sun Kim (hereinafter the wife), issued personal guaranties for the loan.* In October 2005, Majestic defaulted...

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