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Altamore v. Sequa Capital Corp.

Citations: 224 A.D.2d 469; 637 N.Y.S.2d 786; 1996 N.Y. App. Div. LEXIS 1173

Court: Appellate Division of the Supreme Court of the State of New York; February 12, 1996; New York; State Appellate Court

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In the case concerning G&L Capital Corporation and Susan F. Altamore against Sequa Capital Corporation (SCC) and Sequa Corporation, the plaintiffs sought to recover commissions under an oral contract for consulting services related to leveraged leasing transactions. G&L alleges that SCC retained them in January 1991, with commissions based on a percentage of the sales price of leased assets. Although the transactions closed, G&L and Altamore did not receive the promised commissions.

The defendants initially filed a motion to dismiss the complaint for failure to state a cause of action, which was granted by the Supreme Court on March 18, 1994. Subsequently, the plaintiffs moved to renew this motion based on new discovery from a related federal case, which produced over 100,000 documents and relevant deposition excerpts. On August 31, 1994, the court granted the plaintiffs' motion to renew and denied the defendants' motion to dismiss.

The appellate court affirmed the lower court's decision, noting that the plaintiffs acted within their rights to renew the motion due to the extensive discovery that could not have been obtained with reasonable diligence prior to the original dismissal. Additionally, the court found that it could not determine the applicability of General Obligations Law § 5-701(a)(10) at this stage, supporting the decision to allow the case to proceed. The court dismissed the defendants' remaining arguments as without merit, ensuring that the action would continue.