NY Realty Co. Says Landlord Wrongly Kept Letter Of Credit

Law360, New York (September 26, 2012, 5:34 PM EDT) -- Property manager Cooper Square Realty Inc. has asked a New York state court to block its former landlord from drawing down on a $414,000 letter of credit from Toronto-Dominion Bank, claiming the landlord is threatening to keep the money without evidence of a default.

Cooper Square, the largest residential property manager in the city, says it entered into a lease for an unspecified amount of space in the building in 1995, providing landlord 6 East 43rd St. Management Corp. with a standby letter of credit as...
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