On October 15, 2018, Justice Schecter of the New York County Commercial Division issued a decision in Herman v. Herman, 2018 NY Slip Op. 32652(U), appointing a receiver over a judgment debtor’s property, explaining: CPLR 5228(a) provides that upon motion of a judgment creditor the court may appoint a receiver who may be authorized to... Read more »
Blogs
Posts Categorized: Judgment and Collection
Levy Can Be Extended if Motion to Extend is Made Before its Original Expiration Date
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 »
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 »