On August 7, 2025, Justice Crane of the New York County Commercial Division issued an order in Deutsche Bank AG, N.Y. Branch v. Rosenfeld, 2025 NY Slip Op. 33005(U), holding that, performance guaranties did not bar the enforcement of payment guaranties by summary judgment in lieu of complaint, explaining:
[D]efendant argues that the motion must be denied because the Guaranties contain both performance and payment obligations, which is prohibited under New York law. Generally, a guarantee of both payment and performance, does not qualify as an instrument for the payment of money only, and the expedited relief under CPLR 3213 is unavailable where, in addition to a promise to pay, a performance of some other condition is required.
However, even where a guaranty contemplates additional performance obligations, this does not preclude summary judgment in lieu of complaint where performance is not a condition precedent to payment.
Here, the Guaranties’ performance obligations are not conditions precedent to defendant’s unconditional guaranties of payment. Indeed, defendant concedes that his payment obligations were triggered by the Borrower’s default. Accordingly, because the Guaranties did not condition payment upon any other obligations, they are instruments for the payment of money only under CPLR 3213.
(Internal quotations and citations omitted).