Summary
holding that "action to recover payment on promissory notes and a personal guaranty" was timely filed where "commenced within six years of corporate debtor's default"
Summary of this case from ORIX FINANCIAL SERVICES, INC. v. BARNESOpinion
February 20, 1996
Appeal from the Supreme Court, Suffolk County (Floyd, J.).
Ordered that the order is modified by deleting the provision thereof granting the defendant's cross motion for summary judgment and substituting therefor a provision denying the cross motion; as so modified, the order is affirmed, without costs or disbursements.
We agree with the plaintiff's claim that this action was not barred by the Statute of Limitations since it was commenced within six years of the corporate debtor's default ( see, Marine Midland Bank v. Walter Perlstein, Inc., 175 A.D.2d 523). The court properly applied the doctrine of collateral estoppel to preclude the plaintiff from relitigating issues already determined by a prior order of the court in a related action ( see, North Fork Bank Trust Co. v. Lace Mill Assocs., 224 A.D.2d 600 [decided herewith]). However, since we are now modifying that prior order the order appealed from must also be modified ( see, Matter of Amica Mut. Ins. Co. [Jones], 85 A.D.2d 727). Sullivan, J.P., Santucci, Friedmann and Krausman, JJ., concur.