43 A.D.2d 792 | N.Y. App. Div. | 1973
Motion for reargument of appeal, or, in the alternative, for leave to appeal to the Court of Appeals, denied in all respects except that the decision of the court heretofore entered on October 26, 1973 is hereby amended to read as follows: Order unanimously affirmed, without costs. Memorandum: The order of Special Term should be affirmed insofar as it vacated the order to show cause temporarily prohibiting North Forest Apartments, Inc., from transferring a mortgage given to it by COR Enterprises, Inc. The issue on this appeal is whether the appellant creditor can satisfy a claim against his debtor by levying on an asset owned by a party who owes a debt to the debtor. In this case appellant has attempted to levy upon a mortgage by North Forest Apartments, Inc., a corporation indebted to defendant Amherst Acres, Inc., in the amount of $60,000 and also to enjoin any transfer of the mortgage to respondents LoTempio and others. A creditor may satisfy his claim against a debt or property as the statute provides (CPLR 5201, 6202). He may levy on a debt owed to a defendant by another or property held by another in which a defendant has an interest (CPLR 5202, subd. [a]; 6214, subd. [a]). But
