Reeling taxi king gets a reprieve
A taxi kingpin who faced the bank seizure of up to 90 medallions got a break Monday when an appeals courts awarded him a temporary stay.
A Manhattan Supreme Court judge had said last week that Citibank could take the medallions after it sued Gene Freidman for more than $ 30 million in overdue loan payments.
Freidman appealed the decision in Manhattan Appellate Court, and a judge granted him on the stay.
“As the son of a taxi driver, I bleed yellow and am quite pleased with today’s decision,” Freidman said in a statement.
Medallion prices have been plummeting due to competition from appdriben car services such as Uber.
Freidman, who owns or manages about 900 medallions, has been going through a messy divorce and was arrested in March for allegedly choking his pretty French wife, Sandra.
A judge ruled in May that he has to pay her $ 25,000 a month in child support.