Signapori v. Jagaria

Plaintiffs filed action alleging breach of confidentiality provision contained in "Agreement" between the parties. The "Agreement" and loan transaction were knowingly entered into by both parties for purpose of defrauding financial institutions. Court properly dismissed Plaintiffs' amended complaint where confidentiality provision is contrary to public policy and void ab initio, as its sole purpose is to conceal parties' misrepresentations to financial institutions. (HOFFMAN and DELORT, concurring.)