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Glades Financial Corporation v. Chaim

Appellate Division of the Supreme Court of New York, Second Department
May 13, 1996
227 A.D.2d 446 (N.Y. App. Div. 1996)

Opinion

May 13, 1996

Appeal from the Supreme Court, Kings County (Shaw, J.).


Ordered that the appeals from the orders are dismissed; and it is further,

Ordered that the judgment is affirmed; and it is further,

Ordered that the respondents are awarded one bill of costs.

The appeals from the intermediate orders must be dismissed because the right of direct appeal therefrom terminated with the entry of judgment in the action ( see, Matter of Aho, 39 N.Y.2d 241, 248). The issues raised on the appeal, from the orders are brought up for review and have been considered on the appeal from the judgment (CPLR 5501 [a] [1]).

Contrary to the plaintiff's contention, the Supreme Court did not improvidently exercise its discretion in requiring the posting of an undertaking as a condition of opening the plaintiff's default. While the plaintiff contends that the amount of the bond was excessive, it failed to demonstrate that it was financially unable to post the undertaking ( see, Upstate Equities v. William Bradford, Inc., 176 A.D.2d 427; 52-54 E. End Assocs. v. Weinstein Assocs., 167 A.D.2d 234; Rubin v. Payne, 103 A.D.2d 946), and it in fact informed the defendant DWN Management, Inc. (hereinafter DWN) that it intended to comply with the requirement of posting the undertaking.

Moreover, the court properly denied the plaintiff's motion for leave to renew its opposition to the imposition of the bond requirement. The plaintiff submitted purported documentary evidence in an attempt to establish that the machinery which the defendant Zalman Chaim and DWN allegedly converted constituted adequate security for their counterclaims. However, these documents merely consisted of an unsigned, out-of-date appraisal of the machinery and a purported letter offer to purchase unspecified machinery for a given amount, without any showing that it was the same machinery at issue in this case. Accordingly, these documents failed to establish the value of the machinery at the time of the motion for renewal and did not demonstrate that DWN was already adequately secured. Balletta, J.P., Sullivan, Santucci and Altman, JJ., concur.


Summaries of

Glades Financial Corporation v. Chaim

Appellate Division of the Supreme Court of New York, Second Department
May 13, 1996
227 A.D.2d 446 (N.Y. App. Div. 1996)
Case details for

Glades Financial Corporation v. Chaim

Case Details

Full title:GLADES FINANCIAL CORPORATION, Appellant, v. ZALMAN CHAIM et al.…

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

Date published: May 13, 1996

Citations

227 A.D.2d 446 (N.Y. App. Div. 1996)
642 N.Y.S.2d 912

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