Citibank v. Liebowitz
Cases that cite this one
21 later published cases cite this decision.
- Marine Management, Inc. v. Seco Management, Inc. (Appellate Division of the Supreme Court of New York 1991)
- Geron v. Peebler (In re Pali Holdings, Inc.) (United States Bankruptcy Court, S.D. New York 2013)
- NML Capital v. Republic of Argentina (2d Cir. 2010)
- NML Capital v. Republic of Argentina (2d Cir. 2010)
- NYCTL 1998-2 Trust v. Wagner (Appellate Division of the Supreme Court of New York 2009)
- Bank of New York v. Foamex International Inc. (In re Foamex International Inc.) (United States District Court for the District of Delaware 2008)
- RMM Records & Video Corp. v. Universal Music & Video Distribution, Corp. (In re RMM Records & Video Corp.) (United States Bankruptcy Court, S.D. New York 2007)
- Yankee Bank for Finance & Savings v. Task Associates, Inc. (District Court, N.D. New York 1990)
- Jefferies Strategic Investments, LLC v. Weiss (District Court, S.D. New York 2025)
- Milazzo, solely in his capacity as Creditor Truste v. Techakraisri (United States Bankruptcy Court, S.D. New York 2024)
- Sheet Metal Workers Local No. 46 Health Fund, by Troy Milne, as Fund Manager v. Eagle Mechanical and General Construction LLC (District Court, W.D. New York 2019)
- Castle Restoration & Construction, Inc. v. Castle Restoration, LLC (Appellate Division of the Supreme Court of New York 2017)
- NML Capital v. Republic of Argentina (N.Y. 2011)
- Morningside Fuel Corp. v. Lanius (Appellate Division of the Supreme Court of New York 1997)
- Hayduk v. Rent-All Uniforms Co. (Appellate Division of the Supreme Court of New York 1994)
- Michaelson v. Michaelson (Appellate Division of the Supreme Court of New York 1992)
- European American Bank v. Peddlers Pond Holding Corp. (Appellate Division of the Supreme Court of New York 1992)
- Valloni v. Crisona (Appellate Division of the Supreme Court of New York 1991)
- Emery v. Fishmarket Inn of Granite Springs, Inc. (Appellate Division of the Supreme Court of New York 1991)
- Paine Webber Jackson & Curtis, Inc. v. Winters (Conn. App. Ct. 1990)
- Agriculver Profit Sharing Plan v. Dryden Mutual Insurance (Appellate Division of the Supreme Court of New York 1988)
This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.
Opinion of the Court
It is well settled that when a contract provides for interest to be paid at a specified rate until the principal is paid, the contract rate of interest, rather than the legal rate set forth in CPLR 5004, governs until payment of the principal or until the contract is merged in a judgment (see, e.g., O’Brien v Young, 95 NY 428; Schwall v Bergstol, 97 AD2d 540; Astoria Fed. Sav. & Loan Assn. v Rambalakos, 49 AD2d 715; Stull v Joseph Feld, Inc., 34 AD2d 655).
The mortgage note at bar provides, in pertinent part, that the annual rate of interest on the principal sum of $150,000 is
According to the clear import of the terms of the mortgage note and mortgage, which must be read together, the parties agreed that the interest rate of 15%% per annum is to apply after default, and until the principal has been paid. There is no merit to defendant’s contention that only the specific words “until the principal is fully paid” can be used to express such an agreement (see, Metropolitan Sav. Bank v Tuttle, 290 NY 497, 500; Secular v Royal Athletic Surfacing Co., 66 AD2d 761; Williamson & Co. v Colby Engraving & Rubber Plate Corp., 98 Misc 2d 134). Lazer, J. P., Mangano, Bracken and Niehoff, JJ., concur.
Case-law data current through September 30, 2026. Source: CourtListener bulk data.