Case Name: LTCB Trust Company, Respondent, v. 3 East 54th Street Associates, Appellant
Court: New York Supreme Court, Appellate Division
Jurisdiction: New York
Decision Date: 1998-03-24
Citations: 248 A.D.2d 275
Docket Number: 
Parties: LTCB Trust Company, Respondent, v 3 East 54th Street Associates, Appellant.
Judges: Concur — Wallach, J. P., Rubin, Williams, Mazzarelli and Saxe, JJ.
Reporter: Appellate Division Reports
Volume: 248
Pages: 275–276

Head Matter:
LTCB Trust Company, Respondent, v 3 East 54th Street Associates, Appellant.
[670 NYS2d 80]

Opinion:
—Order, Supreme Court, New York County (Richard Lowe, III, J.), entered July 10, 1997, which, inter alia, granted plaintiffs motion for summary judgment on its cause of action for foreclosure of a mortgage, unanimously affirmed, with costs.
Defendant claims that its failure to make the full interest payment that resulted in acceleration of the loan was a "hyper-technical default" wrongfully induced by plaintiffs misrepresentation that such a default was necessary "to make a re structuring of the loan more palatable to Plaintiffs home office". We agree with the IAS Court that defendant's alleged reliance on such alleged misrepresentation involving this $60 million loan fails to establish a triable issue with respect to estopping plaintiff from asserting the default (see, Chemical Bank v Broadway 55-56th St. Assocs., 220 AD2d 308). We have considered defendant's remaining arguments and find them to be without merit.
Concur — Wallach, J. P., Rubin, Williams, Mazzarelli and Saxe, JJ.