District Court, S.D. New York October 21, 1994, 92 Civ. 3277(MEL) (Laro, Inc. Ex Rel. Bay Property Associates v. Chase Manhattan Bank)

LASKER, District Judge.

During the years 1987-1990, Chase Manhattan Bank advanced money to be used as a construction fund by Bay Property Associates (“BPA”), a partnership created in 1984 for the purpose of owning and developing a specific parcel of land in Brooklyn, New York. Laro, Inc. (“Laro”), a 50.