Guaranty Covering Both Payment and Performance Not Instrument for Payment of Money Only for CPLR 3213 Purposes

Guaranty Covering Both Payment and Performance Not Instrument for Payment of Money Only for CPLR 3213 Purposes

On October 23, 2024, Justice Chan of the New York County Commercial Division issued a decision in Vaster Sub II, LLC v. Safdieh, 2024 NY Slip Op. 33808(U), holding that a guaranty covering both payment and performance was not an instrument for payment of money only for purposes of a motion for summary judgment in lieu of complaint . . . Continue reading Guaranty Covering Both Payment and Performance Not Instrument for Payment of Money Only for CPLR 3213 Purposes

Motion for Summary Judgment in Lieu of Complaint Denied for Failure to Give Sufficient Advance Notice

Motion for Summary Judgment in Lieu of Complaint Denied for Failure to Give Sufficient Advance Notice

On October 15, 2024, Justice Chan of the New York County Commercial Division issued a decision in Starship Holdings, LLC v. Maxben Holdings, LLC, 2024 NY Slip Op. 33740(U), that a motion for summary judgment in lieu of complaint must be denied because plaintiffs failed to give defendants legally sufficient advance notice of the motion . . . Continue reading Motion for Summary Judgment in Lieu of Complaint Denied for Failure to Give Sufficient Advance Notice

Motion Must be Supported by Business Records, Not Just Records Custodian Affidavit Attesting to Facts in the Records

Motion Must be Supported by Business Records, Not Just Records Custodian Affidavit Attesting to Facts in the Records

On October 16, 2024, the Second Department issued a decision in Bank of N.Y. v. Levy, 2024 NY Slip Op. 05085, holding that a motion must be supported by business records, not just a records custodian affidavit attesting to the facts in the records . . . Continue reading Motion Must be Supported by Business Records, Not Just Records Custodian Affidavit Attesting to Facts in the Records

Summary Judgment for Foreclosure Denied Because Supporting Affiant Lacked Personal Knowledge of Non-Payment

Summary Judgment for Foreclosure Denied Because Supporting Affiant Lacked Personal Knowledge of Non-Payment

On September 11, 2024, the Second Department issued a decision in Wilmington Sav. Fund Socy., FSB v. E39 St., LLC, 2024 NY Slip Op. 04417, holding that a lender was not entitled to summary judgment in a foreclosure action because its affiant lacked personal knowledge of the borrower’s default . . . Continue reading Summary Judgment for Foreclosure Denied Because Supporting Affiant Lacked Personal Knowledge of Non-Payment

Plaintiff in Foreclosure Action Denied Summary Judgment Because of Insufficient Proof That Allonge was Attached to the Note

Plaintiff in Foreclosure Action Denied Summary Judgment Because of Insufficient Proof That Allonge was Attached to the Note

On August 21, 2024, the Second Department issued a decision in Lakeview Loan Servicing, LLC v. Florio, 2024 NY Slip Op. 04256, denying plaintiff in a foreclosure action summary judgment because of insufficient proof that the allonge was attached to the note . . . Continue reading Plaintiff in Foreclosure Action Denied Summary Judgment Because of Insufficient Proof That Allonge was Attached to the Note

Guaranty’s Reference to Performance of Obligations Did Not Bar Summary Judgment in Lieu of Complaint

Guaranty’s Reference to Performance of Obligations Did Not Bar Summary Judgment in Lieu of Complaint

On August 2, 2024, Justice Patel of the New York County Commercial Division issued a decision in Acquiom Agency Servs. LLC v. Fox Capital LLC, 2024 NY Slip Op. 51000(U), holding that a guaranty’s reference to performance of obligations did not bar summary judgment in lieu of complaint . . . Continue reading Guaranty’s Reference to Performance of Obligations Did Not Bar Summary Judgment in Lieu of Complaint

Return Date for Motion for Summary Judgment in Lieu of Complaint Must be After the Defendant’s Time to Appear

Return Date for Motion for Summary Judgment in Lieu of Complaint Must be After the Defendant’s Time to Appear

On July 23, 2024, Justice Chan of the New York Commercial Division issued a decision in SD Stability SDIRA, LLC v. Maxben Holdings, LLC, 2024 NY Slip Op. 32556(U), holding that the return date for a motion for summary judgment in lieu of complaint must be after the defendant’s time to appear . . . Continue reading Return Date for Motion for Summary Judgment in Lieu of Complaint Must be After the Defendant’s Time to Appear

Affidavit Submitted to Prove Non-Payment of Loan Must Include Business Records Upon Which the Affidavit is Based

Affidavit Submitted to Prove Non-Payment of Loan Must Include Business Records Upon Which the Affidavit is Based

On June 26, 2024, the Second Department issued a decision in MTGLQ Invs., L.P. v. Daleo, 2024 NY Slip Op. 03477, holding that an affidavit submitted to prove non-payment of a loan must include the business records upon which the affidavit is based . . . Continue reading Affidavit Submitted to Prove Non-Payment of Loan Must Include Business Records Upon Which the Affidavit is Based

Summary Judgment in Lieu of Complaint Denied Because Guaranty Covered Both Payment and Performance

Summary Judgment in Lieu of Complaint Denied Because Guaranty Covered Both Payment and Performance

On June 11, 2024, Justice Cohen of the New York County Commercial Division issued a decision in Manhattan Real Estate Fund, LP v. Paz, 2024 NY Slip Op. 32017(U), denying a motion for summary judgment in lieu of complaint on a guaranty because the guaranty covered both payment and performance . . . Continue reading Summary Judgment in Lieu of Complaint Denied Because Guaranty Covered Both Payment and Performance