Northern Funding, LLC v 244 Madison Realty Corp.

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Northern Funding, LLC v 244 Madison Realty Corp. 2007 NY Slip Op 05165 [41 AD3d 182] Decided on June 12, 2007 Appellate Division, First Department Published by New York State Law Reporting Bureau pursuant to Judiciary Law ยง 431. This opinion is uncorrected and subject to revision before publication in the Official Reports.

Decided on June 12, 2007
Mazzarelli, J.P., Andrias, Nardelli, Williams, Gonzalez, JJ.
1323N
Index 603985/06

[*1]Northern Funding, LLC, et al., Plaintiffs-Appellants,

v

244 Madison Realty Corp., et al., Defendants-Respondents.




Law Offices of Steven E. Rosenfeld, P.C., New York (Steven E.
Rosenfeld of counsel), for appellants.
Braverman & Associates, P.C., New York (Jon Kolbrener of
counsel), for respondents.

Order, Supreme Court, New York County (Herman Cahn, J.), entered January 17, 2007, which, in an action against a residential cooperative and its directors seeking, inter alia, to compel a transfer of shares appurtenant to an apartment, granted defendants' cross motion to add as necessary parties the Department of Finance of the State of New York and Emigrant Savings Bank, and denied plaintiffs' motion for a mandatory preliminary injunction with leave to renew after an amended complaint has been served and filed, unanimously modified, on the law, to deny that portion of the cross motion seeking to add Emigrant Savings Bank as a necessary party, and otherwise affirmed, without costs.

The Department of Finance is a necessary party, there being issues of fact as to whether it has valid liens against the
subject shares (CPLR 1001[a]; see Russell v City of New York, 22 AD2d 76 [1964], affd 16 NY2d 641 [1965]; Costa v Harris, 26 AD2d 933 [1966]). However, the UCC statement submitted by plaintiffs demonstrates that the lien held by Emigrant Savings Bank has been satisfied, and we modify accordingly. The mandatory preliminary injunction that plaintiffs seek would impermissibly grant them the ultimate relief sought, prior to the addition of a necessary party and joinder of issue (see St Paul Fire & Mar. Ins. Co. v New York Claims Serv., 308 AD2d 347, 348-349 [2003]). For present purposes, we note UCC 8-401(a)(4) (issuer of stock to register a transfer of stock if "any applicable law relating to the collection of taxes has been [*2]complied with"), but do not rule on its applicability. We have considered plaintiffs' other arguments and find them unavailing.

THIS CONSTITUTES THE DECISION AND ORDER
OF THE SUPREME COURT, APPELLATE DIVISION, FIRST DEPARTMENT.

ENTERED: JUNE 12, 2007

CLERK

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