New York

Warning: The following opinion is provided for purposes of discussion only. We have not Shepardized™ this opinion, and do not know the subsequent disposition of this case nor whether the effect of the opinion has been overruled or superceded by other law.

N Willian Towne Associates, Inc. v. Pegasus Construction, Inc.,
2001.NY.0005784 (N.Y.App.Div. 08/09/2001)

Supreme Court, Appellate Division, First Department, New York

4216

2001 N.Y. Slip Op. 06655, 2001.NY.0005784

August 9, 2001

N WILLIAM TOWNE ASSOCIATES, INC., PLAINTIFF-APPELLANT

v.

PEGASUS CONSTRUCTION, INC., ET AL., DEFENDANTS-RESPONDENTS

Counsel: Paul Frohman, Walter Jennings

Rosenberger, J.P., Tom, Mazzarelli, Wallach, Friedman, JJ.

Order, Supreme Court, New York County (Sheila Abdus-Salaam, J.), entered January 23, 2001, which, in an action to set aside a fraudulent transfer so as to enforce a money judgment, inter alia, granted defendants' cross motion to enforce a stipulation of settlement entered into between the parties on or about June 21, 2000, unanimously affirmed, without costs.

Defendants' three-day-late proffer of the second of the three payments due pursuant to the parties' stipulation of settlement, after timely making the first payment, would not have justified a finding that defendants were in default under the stipulation. Neither the stipulation nor the parties' conduct demonstrates that time was of the essence (see, Ciani v. Georgalas, 274 AD2d 443).

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

ENTERED: AUGUST 9, 2001

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