BRT Realty Trust v. Preferred Entity Advancement

Appellate Division of the Supreme Court of New York

BRT Realty Trust v. Preferred Entity Advancement

233 A.D.2d 200, 649 N.Y.S.2d 699, 1996 N.Y. App. Div. LEXIS 11781

CourtAppellate Division of the Supreme Court of the State of New York

DecidedNovember 19, 1996

StatusPublished

This text of 233 A.D.2d 200 (BRT Realty Trust v. Preferred Entity Advancement) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

BRT Realty Trust v. Preferred Entity Advancement, 233 A.D.2d 200, 649 N.Y.S.2d 699, 1996 N.Y. App. Div. LEXIS 11781 (N.Y. Ct. App. 1996).

Pincite

Opinion

Order, Supreme Court, New York County (Paula J. Oman-sky, J.), entered January 24, 1996, which, inter alia, denied the application of defendant net-lessee Merrie Christie Refreshments, Inc. and defendant-subtenant Yogurt-Nut Inc., for a Yellowstone injunction, unanimously reversed, on the law and the facts, with costs, and the Yellowstone injunction granted.

The IAS Court’s determination regarding the validity of the assignment of the net lease was premature. Although the receiver never consented to such assignment because of Merrie Christie’s failure to pay pre-existing rent arrears in full, it appears that, prior to the application for the Yellowstone injunction, the assignment of the net lease to Merrie Christie was never challenged by the receiver, who accepted rent from Merrie Christie over a 44 month period. The facially valid assignment of the net lease gives Merrie Christie the initial standing to pursue its claims regarding the outstanding arrears and the parties’ contentions regarding the validity of the assignment must await trial. Inasmuch as the minimal prima facie requirements for a Yellowstone injunction were met, Merrie Christie is entitled to such relief (see, Golub Corp. v Northeastern Indus. Park, 188 AD2d 729, 730-731). Concur—Milonas, J. P., Wallach, Kupferman, Tom and Andrias, JJ.

Free access — add to your briefcase to read the full text and ask questions with AI

Order, Supreme Court, New York County (Paula J. Oman-sky, J.), entered January 24, 1996, which, inter alia, denied the application of defendant net-lessee Merrie Christie Refreshments, Inc. and defendant-subtenant Yogurt-Nut Inc., for a Yellowstone injunction, unanimously reversed, on the law and the facts, with costs, and the Yellowstone injunction granted.

The IAS Court’s determination regarding the validity of the assignment of the net lease was premature. Although the receiver never consented to such assignment because of Merrie Christie’s failure to pay pre-existing rent arrears in full, it appears that, prior to the application for the Yellowstone injunction, the assignment of the net lease to Merrie Christie was never challenged by the receiver, who accepted rent from Merrie Christie over a 44 month period. The facially valid assignment of the net lease gives Merrie Christie the initial standing to pursue its claims regarding the outstanding arrears and the parties’ contentions regarding the validity of the assignment must await trial. Inasmuch as the minimal prima facie requirements for a Yellowstone injunction were met, Merrie Christie is entitled to such relief (see, Golub Corp. v Northeastern Indus. Park, 188 AD2d 729, 730-731). Concur—Milonas, J. P., Wallach, Kupferman, Tom and Andrias, JJ.

Cite This Page — Counsel Stack

Bluebook (online)

233 A.D.2d 200, 649 N.Y.S.2d 699, 1996 N.Y. App. Div. LEXIS 11781, Counsel Stack Legal Research, https://law.counselstack.com/opinion/brt-realty-trust-v-preferred-entity-advancement-nyappdiv-1996.

Opinion

Related

Cite This Page — Counsel Stack