Daily Archives: Thursday, May 11, 2017

Posted: May 11, 2017

No-Oral-Modification Clause Precluded Defense That Bank Said it Would Refinance

On April 27, 2017, Justice Scarpulla of the New York County Commercial Division issued a decision in Medallion Bank v. Butwin Transit Inc., 2017 NY Slip Op. 30877(U), holding that alleged oral promises to refinance loans did not preclude summary judgment in lieu of complaint against the borrowers and guarantors when the loans eventually were... Read more »