Summary
In O'Leary v. Bank of London South America, Ltd. (272 App. Div. 100 2 [1947]), defendant-appellant, a Panamanian corporation not authorized to do business in New York, maintained an account with the defendant New York agency of Bank of London South America, Limited. It maintained therein cash credits in substantial amounts, purchased and sold securities, collected dividends on securities and made substantial remittances to various persons.
Summary of this case from Mirabella v. Banco Ind., ArgentinaOpinion
October 17, 1947.
Present — Peck, P.J., Glennon, Dore, Van Voorhis and Shientag, JJ.
Order unanimously reversed, with $20 costs and disbursements to the appellant and the motion granted on the ground that the person served was not a director of the defendant-appellant corporation at the time of the attempted service and the corporation was not doing business within the State of New York. (See Bank of America v. Whitney Bank, 261 U.S. 171.) Settle order on notice.