Guaranty Made to Two Lenders Ambiguous Regarding Whether it Could be Enforced by Only One Lender

Guaranty Made to Two Lenders Ambiguous Regarding Whether it Could be Enforced by Only One Lender

On October 25, 2022, the First Department issued a decision in Arena Invs., L.P. v. D’Angelo, 2022 NY Slip Op. 05945, holding that a guaranty made to two lenders was ambiguous regarding whether it could be enforced by only one of the lenders . . . Continue reading Guaranty Made to Two Lenders Ambiguous Regarding Whether it Could be Enforced by Only One Lender

Loan Servicer Affidavit Failed to Establish Grounds for Summary Judgment of Foreclosure

Loan Servicer Affidavit Failed to Establish Grounds for Summary Judgment of Foreclosure

On September 21, 2022, the Second Department issued a decision in U.S. Bank N.A. v. Zakarin, 2022 NY Slip Op. 05229, holding that a loan servicer’s affidavit was insufficient grounds for summary judgment because it did not identify and attach the business records that formed the grounds for her statement that the defendant had failed to pay . . . Continue reading Loan Servicer Affidavit Failed to Establish Grounds for Summary Judgment of Foreclosure

Party Barred from Arguing on Summary Judgment that the Version of a Contract it had Used Throughout the Litigation Was Not the Correct One

Party Barred from Arguing on Summary Judgment that the Version of a Contract it had Used Throughout the Litigation Was Not the Correct One

On September 9, 2022, Justice Chan of the New York County Commercial Division issued a decision in Victor RPM First, LLC v. Charles Condominiums, LLC, 2022 NY Slip Op. 33053(U), barring a party from arguing on summary judgment that the version of a contract it had used throughout the litigation was not the correct one . . . Continue reading Party Barred from Arguing on Summary Judgment that the Version of a Contract it had Used Throughout the Litigation Was Not the Correct One

Guaranty That Guarantees Both Payment and Performance Not Instrument For Payment of Money Only for CPLR 3213 Purposes

Guaranty That Guarantees Both Payment and Performance Not Instrument For Payment of Money Only for CPLR 3213 Purposes

On September 6, 2022, Justice Chan of the New York County Commercial Division issued a decision in Feenix Venture Partners, LLC v. TBS, Inc., 2022 NY Slip Op. 32980(U), holding that a guaranty that guarantees both payment and performance is not an instrument for the payment of money only for CPLR 3213 purposes . . . Continue reading Guaranty That Guarantees Both Payment and Performance Not Instrument For Payment of Money Only for CPLR 3213 Purposes