Summary Judgment Granted Where Defendant Failed To Raise Triable Issues Regarding Its Obligation Under Promissory Notes

Posted: January 14, 2026 / Written by: Joshua Wurtzel, Channing J. Turner, Samuel L. Butt, Thomas A. Kissane / Categories Note, Breach of Contract, Summary Judgment

Summary Judgment Granted Where Defendant Failed To Raise Triable Issues Regarding Its Obligation Under Promissory Notes

On November 21, 2025, Justice Andrew Borrok granted a plaintiff lender summary judgment, finding that defendant failed to raise any triable issue concerning its obligations under certain promissory notes. The case is Mendon Ventures Banktech Fund I LP v. Equitus Corporation, Index No. 654629/2024.

In a prior decision denying summary judgment in lieu of complaint pending discovery, the Court had found that plaintiff Mendon “had made a prima facie showing of its entitlement to judgement as a matter of law based on Equitus’ maturity default pursuant to the terms of the Notes as of June 1, 2024”. Slip op., p. 3. It now granted summary judgment because Equitus failed to rebut that showing “[o]n the fully developed record.” Id.:

Section 4.4 of the Notes require amendments to be in writing . . .. No such written amendments were agreed to or executed. Indeed, to the extent that the Defendant’s position has been that there was an agreement that the Notes be consolidated such that the maturity be extended until December 1, 2024, this date has come and passed too. In fact, however, the fully developed record demonstrates unequivocally that Robert Guidry has submitted false documents to support his strategy of delay and frustrating the Plaintiff’s rights for collection until 2025 (see NYSCEF Doc. No. 86). To wit, the internal documents demonstrate that Equitus made a proposal for a $1.1 million extension and an extension of the time for repayment (see NYSCEF Doc. No. 79) but that there was no agreement by Mendon.

Slip op., pp. 1-2.

Contact the Commercial Division Blog Committee at commercialdivisionblog@schlamstone.com if you or a client have questions concerning promissory notes or summary judgment.