Magid v. Sunrise Holdings Grp., LLC

• Decision Date: 25 April 2018
• Docket Number: 2015–10542,Index No. 511065/14
• Citation: 160 A.D.3d 941,72 N.Y.S.3d 579
• Parties: Ilya MAGID, etc., respondent, v. SUNRISE HOLDINGS GROUP, LLC, appellant.
• Court: New York Supreme Court — Appellate Division

160 A.D.3d 941
72 N.Y.S.3d 579

Ilya MAGID, etc., respondent,
v.
SUNRISE HOLDINGS GROUP, LLC, appellant.

2015–10542
Index No. 511065/14

Supreme Court, Appellate Division, Second Department, New York.

Argued September 12, 2017
April 25, 2018

Tsyngauz & Associates, P.C., New York, N.Y. (Yevgeny Tsyngauz and Simon I. Malinowski of counsel), for appellant.

Law Offices of Marc E. Bengualid, PLLC, New York, N.Y. (Etan C. Harris of counsel), for respondent.

CHERYL E. CHAMBERS, J.P., ROBERT J. MILLER, SYLVIA O. HINDS–RADIX, COLLEEN D. DUFFY, JJ.

DECISION & ORDER ON MOTION

160 A.D.3d 942

In an action for a judgment declaring, inter alia, that a UCC–1 financing statement recorded against a cooperative apartment known as 2940 West Fifth Street, Apt. 5A, in Brooklyn, was null and void, and for related injunctive relief, the defendant appeals, as limited by its brief, from so much of an order of the Supreme Court, Kings County (Yvonne Lewis, J.), dated August 27, 2015, as granted that branch of the plaintiff's motion which was, in effect, for summary judgment declaring that the UCC–1 financing statement recorded against 2940 West Fifth Street, Apt. 5A, in Brooklyn, was null and void, and that branch of the plaintiff's motion which was pursuant to CPLR 6301 for a preliminary injunction enjoining the defendant from foreclosing on that cooperative apartment.

ORDERED that the order is modified, on the law, by deleting the provisions thereof granting that branch of the plaintiff's motion which was, in effect, for summary judgment declaring that the UCC–1 financing statement filed against the cooperative apartment known as 2940 West Fifth Street, Apt. 5A, in Brooklyn, was null and void, and substituting therefor a provision denying that branch of the motion; as so modified, the order is affirmed insofar as appealed from, with costs to the defendant.

The plaintiff is the sole trustee of the Magidenko Family Irrevocable Trust (hereinafter the trust), which was created by his parents, Natan Magidenko and Tsilya Magidenko (hereinafter together the Magidenkos), in 2008 to hold their shares of stock in a cooperative apartment known as 2940 West Fifth Street, Apt. 5A, in Brooklyn. The Magidenkos, as grantors, were named as the income beneficiaries of the trust and also retained a life estate in the apartment. In addition to his role as trustee, the plaintiff was also designated as the primary remainderman of the trust, and his children were named as contingent remaindermen.

In July 2011, the plaintiff, both personally and in his capacity as trustee, executed a promissory note in favor of the defendant in the...