MATTER OF LEK v. ELEK

10763N.

180 A.D.3d 533 (2020)

118 N.Y.S.3d 606

2020 NY Slip Op 01134

In the Matter of LEK Securities Corporation et al., Respondents, v. Istvan Elek, Appellant.

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

Decided February 18, 2020.


The record establishes that respondent was a customer of nonparty Lek Securities UK, Ltd. (LekUK), where he had his account, and was also a client of petitioner Lek Securities Corp. (LekUS), with which he had a series of direct agreements. Under those agreements, LekUS conditioned its provision of depository and execution services for certain trades on respondent's providing certain representations and an indemnity (see Sinclair & Co. LLC v Pursuit Inv. Mgt. LLC,<...

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