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Category Archives: Undertaking

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Injunctive Relief Regarding Collateral Granted Where Default Under Loan Agreement Not Disputed: East W. Bank v Jung Sun Laundry Group Corp.

Posted in Breach of Contract, Breach of Promissory Note, CPLR 6301, CPLR 6311, CPLR 6312, CPLR 7102, Dissolution, Industry: banking, Justice Kitzes, Orin R., NY UCC 9-609, Order of Seizure, Preliminary Injunction, Queens, Standing, Undertaking, Uniform Commercial Code UCC

In a December 15, 2010, decision by Justice Kitzes, the court granted Plaintiff’s request for a preliminary injunction in connection with an application for an order of seizure. Plaintiff-lender sought injunctive relief prohibiting Defendant-borrower from transferring any of the collateral under the parties’ loan agreements until judgment is obtained and the loan paid in full. The collateral… Continue Reading