In a rare exception to the general rule against granting injunctive relief in contract actions, a sharply divided upstate appellate panel has ordered Citigroup to continue making loan disbursements to the developer of a stalled, $330 million Syracuse construction project.
The 3-2 Appellate Division, Fourth Department, majority found that plaintiff Destiny USA Holdings established all of the elements for a preliminary injunction, including—in a rarity for contract actions, where monetary damages are usually an adequate remedy—”irreparable injury.”
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