Walsh v. Blaggards III Restaurant Corp – Case Brief Summary (New York)

In Walsh v. Blaggards III Restaurant Corp., 131 A.D.3d 854, 17 N.Y.S.3d 11 [1st Dept., 2015], the First Department approved the use of tax estoppel as a basis for awarding summary judgment.

The Court wrote:

Defendant stated in its tax returns that the $50,000 paid by plaintiff was a loan and that the outstanding balance was $44,500; those statements are binding on defendant. Thus, contrary to defendant's argument otherwise, that amount is a loan, not an investment and summary judgment in plaintiff's favor on the single' cause of action in his complaint is warranted. (Walsh, 131 A.D.3d at 854.)

New York Case Brief Cause of Action Complaint Estoppel Judgment Summary Judgment Tax Law

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