Updated 01/27/2010 06:08 AM
Destiny wins another ruling
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SYRACUSE, N.Y. -- Another legal victory for Destiny USA in its ongoing battle with Citigroup a bank that cut off funding for construction of an expansion of Carousel Center.
Back in December, Destiny claimed Citigroup would soon declare it in default on its refinancing of the original Carousel Center. It argued that the bank had created hardships meeting financial tests for the Carousel Center loans by cutting off funding and halting the mall expansion.
Citigroup said the matter should be decided by a supreme Court justice in New York City and asked that the case be moved there.
Justice John Cherundolo has now ordered all of the cases involved consolidated into one case. And he has ordered that case be heard not in New York, but in Syracuse.
Cherundolo's previous ruling that Citigroup was in breach of contract on the construction loan was upheld by the state appellate division.
Citigroup is asking the state's highest court, the Court of Appeals, to review the case.