On September 28, 2018, Justice Sherwood of the New York County Commercial Division issued a decision in Medallion Bank v. Mama of 5 Hacking Corp., 2018 NY Slip Op. 32461(U), holding that a levy can be extended if a motion to extend is made before the levy’s original expiration date, explaining: CPLR 5232 (a) provides, in… Read more »
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Posts Categorized: Judgment and Collection
Levy Does Not Expire After 90 Days if a Special Proceeding is Commenced Before the 90 Days Has Run
On September 21, 2018, Justice Masley of the New York County Commercial Division issued a decision in Medallion Bank v. TLG Hacking Corp., 2018 NY Slip Op. 32397(U), holding that a levy does not expire if a special proceeding is commenced before the levy expires, explaining: Garber and TLG argue that the motion must be denied… Read more »
Court Cannot Consider Affirmative Defenses in Deciding Judgment by Default for Non-Appearance
On April 4, 2018, the Second Department issued a decision in Power Up Lending Group, Ltd. v. Cardinal Resources, Inc., 2018 NY Slip Op. 02351, holding that in deciding a motion for default due to non-appearance, a court could not consider affirmative defenses, explaining: Pursuant to CPLR 3215, a plaintiff may seek a default judgment… Read more »
Court Enters Judgment Enforcing Foreign Judgment
On January 30, 2018, Justice Sherwood of the New York County Commercial Division issued a decision in VTB Bank (PJSC) v. Mavlyanov, 2018 NY Slip Op. 30166(U), entering an order enforcing a foreign judgment, explaining: Article 53 of the CPLR (Recognition Act) provides that a foreign country judgment may be enforced by a motion for… Read more »
Allegations of Badges of Fraud Sufficient to Support Actual Fraudulent Conveyance Claim
On December 14, 2017, Justice Scarpulla of the New York County Commercial Division issued a decision in Capital One Equipment Finance Corp. v. Corrigan, 2017 NY Slip Op. 32632(U), holding that allegations of badges of fraud are sufficient to support a claim for actual fraudulent conveyance, explaining: Capital One also sufficiently states a claim against… Read more »
If a Debtor Controls Funds Escrowed to Pay Specific Creditors, Those Funds Are Subject to Other Creditors’ Claims
On November 15, 2017, the Second Department issued a decision in Freedman v. Hason, 2017 NY Slip Op. 07977, holding that even if a debtor escrows funds to pay specific creditors, those funds are subject to the claims of other creditors if the debtor retains control of the funds, explaining: Hason’s contention that the proceeds… Read more »
Even if Statutory Basis for Attachment Met, Must be Showing Judgment Will Not Be Paid
On April 21, 2017, Justice Friedman of the New York County Commercial Division issued a decision in Mascis Investment Partnership v. SG Capital Corp., 2017 NY Slip Op. 30813(U), holding that even where the statutory basis for an attachment is met, there must be a showing that there is a risk that the judgment will… Read more »
Acquiror of Judgment Debtor’s Assets Not Liable as Debtor’s Successor
On March 20, 2017, Justice Oing of the New York County Commercial Division issued a decision in Kolow v. Laidlaw & Co. (UK) Ltd., 2017 NY Slip Op. 30554(U), holding that a complaint failed to allege facts necessary to overcome the rule that the acquiror of a judgment debtor’s assets is not liable for its… Read more »
Motion to Correct Judgment Cannot be Used to Litigate New Issues
On February 15, 2017, Justice Ramos of the New York County Commercial Division issued a decision in DLJ Mortgage Capital, Inc. v. Hoey, 2017 NY Slip Op. 30303(U), denying a motion to correct a judgment because it sought to litigate new issues, explaining: A court has the inherent power to correct any mistake, defect or… Read more »
Court Finds Service of Information Subpoena/Restraining Notice on Party’s Counsel Adequate
On February 3, 2017, Justice Singh of the New York County Commercial Division issued a decision in Deutsche Bank AG v. Sebastian Holdings Inc., 2017 NY Slip Op. 30241(U), holding that service of an information subpoena and restraining notice on a party’s counsel was sufficient service, explaining: Defendant argues that it was not properly served… Read more »