Credit Agricole Indosuez v. Rossiyskiy Kredit Bank

In Credit Agricole Indosuez v. Rossiyskiy Kredit Bank (94 NY2d 541, 729 NE2d 683, 708 NYS2d 26 [2000]), the creditor brought an action on a debt, but also alleged that the defendant was insolvent and therefore owed a fiduciary duty to preserve assets for the benefit of general creditors. The Court reasoned that the inclusion of this equitable cause of action was "incidental to and purely for the purposes of enforcement of the primary relief sought here, a money judgment." (Id. at 548.) In addition, the Court noted that "making an exception on the basis that permanent equitable relief is sought in support of a suit essentially for money only would be too facile a way to avoid and undermine the settled proscription against preliminary injunctions merely to preserve a fund for eventual execution of judgment in suits for money damages." (Id.)