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Brodsky v. Perth Amboy National Bank

decided: October 7, 1958.

IRVING BRODSKY
v.
THE PERTH AMBOY NATIONAL BANK, A BANKING CORPORATION ORGANIZED UNDER THE LAWS OF THE UNITED STATES, APPELLANT.



Author: Kalodner

Before KALODNER, STALEY and HASTIE, Circuit Judges.

KALODNER, Circuit Judge.

This appeal arises out of the dismissal by the district court of a counterclaim asserted by the Perth Amboy National Bank ("Bank") against Irving Brodsky. The district court based its dismissal both on the failure of Bank to join indispensable parties and on the merits.

Our attention will be directed solely to the indispensable parties issue inasmuch as we deem it to be critical and dispositive on this appeal.

The facts are detailed in the district court's opinion, D.C.N.J.1957, 156 F.Supp. 316. Only the following facts, relevant to our consideration, need here be stated. On May 14, 1956, Brodsky, a New York resident, and a stockholder in Bank, commenced an action against it to adjudicate the invalidity of the annual stockholders meeting held on January 10, 1956 and the election of directors thereafter. Bank answered Brodsky's complaint and filed a counterclaim seeking an adjudication that a certain leasehold agreement entered into between Bank and one Charles F. Noyes was null and void and of no effect. Bank had sold an office building, part of which it occupied, to Noyes in July 1954 and co-incident with the sale executed a lease for its banking quarters for a 21-year term at an annual net rental of $18,000. Brodsky, together with three others, on April 1, 1955, acquired title, by purchase, to the office building subject to the Bank's lease. Bank paid rent to Brodsky and his co-title holders from April 1, 1955 until the filing of the counterclaim on June 18, 1956 pursuant to a notice to do so which had been given to it at the time Brodsky et al. took title.

The notice referred to reads as follows:

"Pamb Realty Associates

1441 Broadway

New York 18, N.Y.

CHickering 4-7758

April 1, 1955

"Mr. E. F. Blakey, President

The Perth Amboy ...


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