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JANNEY MONTGOMERY SCOTT, LLC v. LYNN

2015-02371. Index No. 35307/14.

151 A.D.3d 1036 (2017)

58 N.Y.S.3d 480

2017 NY Slip Op 05208

JANNEY MONTGOMERY SCOTT, LLC, Plaintiff, v. JOHN W. LYNN, Appellant, and STERLING NATIONAL BANK, Respondent.

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

Decided June 28, 2017.

Ordered that the order is affirmed insofar as appealed from, with costs.

In December 2000, Provident Bank, a predecessor of the defendant Sterling National Bank (hereinafter Sterling), provided Lynn Homes, Inc. (hereinafter the corporation), with a commercial loan that was personally guaranteed by the corporation's owner, the defendant John W. Lynn. Lynn subsequently agreed to provide Sterling with a security interest in approximately $115,000 of funds in the corporation...

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