CHASE EQUIPMENT LEASING INC. v. ARCHITECTURAL AIR, L.L.C.

4940, 650168/09.

84 A.D.3d 439 (2011)

922 N.Y.S.2d 69

CHASE EQUIPMENT LEASING INC., Respondent, v. ARCHITECTURAL AIR, L.L.C., et al., Appellants.

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

Decided May 3, 2011.


Plaintiff, as a secured party, was not obligated to act in a commercially reasonable manner before taking possession of the collateral (Bank Leumi USA v Agati, 5 A.D.3d 292, 293 [2004]). Nor was it so obligated by having, as defendants assert, practical control over the collateral, given defendants' refusal to surrender possession unless plaintiff modified the underlying loan or capitulated to their other demands. Plaintiff's refusal...

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