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NYCTL 1996-1 TRUST v. EM-ESS PETROLEUM CORP.

57 A.D.3d 304 (2008)

869 N.Y.S.2d 71

NYCTL 1996-1 TRUST, and THE BANK OF NEW YORK, as Collateral Agent and Custodian for the NYCTL 1996-1 Trust, Respondents, v. EM-ESS PETROLEUM CORP. et al., Defendants, and JOSEPH STERN, Appellant.

Appellate Division of the Supreme Court of New York, First Department.

December 16, 2008.

Stern purchased an abandoned gas station at a foreclosure sale on June 8, 1999. He subsequently learned that the New York State Department of Environmental Conservation (DEC) had designated the property an "oil spill site" and that, although DEC had expended approximately $1.5 million in cleanup costs, substantial cleanup remained to be completed. Stern's title insurance company refused to insure the property until it was free of any current or future liens or obligations...

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