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Fidelity Deposit Company v. Safety Harbor

Appellate Division of the Supreme Court of New York, First Department
Mar 21, 1991
171 A.D.2d 553 (N.Y. App. Div. 1991)

Opinion

March 21, 1991

Appeal from the Supreme Court, New York County (Shirley Fingerhood, J.).


To secure a bond in the amount of $100,000 issued by Fidelity and Deposit Company of Maryland ("Fidelity"), Safety Harbor Spa Associates Ltd. Partnership ("Partnership") posted $100,000 in cash. The collateral agreement between the Partnership and Fidelity acknowledges that Partnership is the owner of the collateral. As there is no documentary or other viable evidence that the collateral belongs to Safety Harbor Spa, Inc., there is no basis to disturb the IAS court's order directing payment of the collateral, less, expenses, to the Partnership's creditor.

Concur — Sullivan, J.P., Carro, Ellerin and Wallach, JJ.


Summaries of

Fidelity Deposit Company v. Safety Harbor

Appellate Division of the Supreme Court of New York, First Department
Mar 21, 1991
171 A.D.2d 553 (N.Y. App. Div. 1991)
Case details for

Fidelity Deposit Company v. Safety Harbor

Case Details

Full title:FIDELITY AND DEPOSIT COMPANY OF MARYLAND, Respondent, v. SAFETY HARBOR…

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

Date published: Mar 21, 1991

Citations

171 A.D.2d 553 (N.Y. App. Div. 1991)
567 N.Y.S.2d 439