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TOWERS CHARTER & MARINE CORP. v. CADILLAC INS. CO.

No. 88 CIV 4200 (LBS).

708 F.Supp. 612 (1989)

TOWERS CHARTER & MARINE CORPORATION, Plaintiff, v. CADILLAC INSURANCE COMPANY, INC., Defendant, v. Steven HOFFENBERG, Additional Defendant on the Counterclaim.

United States District Court, S.D. New York.

March 31, 1989.

Attorney(s) appearing for the Case

Dreyer & Traub, New York City, for plaintiff and for additional defendant on the counterclaim; Eugene Mittelman, of counsel.

Jacob, Medinger & Finnegan, New York City, for defendant; Michael Davidson, Michael Jacobs, of counsel.

OPINION

SAND, District Judge.

This action is before the Court following oral argument on defendant's motion for summary judgment. In brief, plaintiff Towers Charter & Marine Corporation ("Towers") alleges that defendant Cadillac Insurance Company, Inc. ("Cadillac") is in breach of a loan commitment to lend Towers $1,400,000 for the purchase of a 111-foot boat, the Marco Polo. Defendant seeks the dismissal of the complaint, which would release the money...

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