Opinion
June 3, 2003.
Order, Supreme Court, New York County (Jane Solomon, J.), entered March 8, 2002, which, upon defendants' motion for clarification/reargument, directed plaintiffs by their trustee to turn over the trust fund containing certain life insurance proceeds in its entirety in exchange for stock certificates held by defendants, unanimously affirmed, with costs.
Stuart Wachs, for plaintiffs-appellants.
Michael G. Davies, for defendants-respondents.
Before: Andrias, J.P., Saxe, Ellerin, Lerner, Friedman, JJ.
The court properly held that defendants were entitled to the interest that had accrued upon the insurance proceeds held by the trustee. Inasmuch as defendants' right to the subject insurance proceeds has been established, so has their right to the interest generated by those proceeds. A contrary holding entitling plaintiffs "`to interest on a principal sum to which [they were] not entitled'" would be incongruous (see Lischak v. Kotzer, 96 Misc.2d 114, 116, quoting Fleschner Bros., Inc. v. Consolidated Edison Co. of New York, 279 App. Div. 69, 71,affd 304 N.Y. 815).
THIS CONSTITUTES THE DECISION AND ORDER OF THE SUPREME COURT, APPELLATE DIVISION, FIRST DEPARTMENT.