Blogs

Posts Categorized: Judgment and Collection

Posted: April 12, 2021

Waiver of Defenses in Guaranty Prevented Guarantor From Asserting Affirmative Defenses to Guaranty’s Enforcement

On March 31, 2021, the Second Department issued a decision in Capital One Taxi Medallion Fin. v. JEB Mgt. Corp., 2021 NY Slip Op. 01960, holding that the waiver of defenses in a guaranty prevented the guarantor from asserting affirmative defenses to the guaranty’s enforcement, explaining: On a motion for summary judgment to enforce a... Read more »

Posted: April 2, 2021

Court Grants Summary Judgment In Lieu of Complaint Based on Settlement Agreement

On March 17, 2021, Justice Borrok of the New York County Commercial Division issued a decision in Wilkins Media, LLC v. Oxigen Beverages, Inc., 2021 NY Slip Op. 30847(U), granting summary judgment in lieu of complaint based on a settlement agreement, explaining: Pursuant to CPLR § 3213, a motion for summary judgment in lieu of... Read more »

Posted: March 16, 2021

That LLC Was Not Formed When it Was Assigned Note Did Not Cause it to Lack Standing to Enforce Note

On March 10, 2021, the Second Department issued a decision in Torto Note Member, LLC v. Babad, 2021 NY Slip Op. 01438, holding that even though an LLC was not formed when it was assigned a note, the LLC had standing to sue on the note, explaining: The appellants also failed to raise a triable... Read more »

Posted: January 4, 2021

Lien Recorded Under Debtor’s Correct Surname Valid Even Though First Name Was Incorrect

On December 23, 2020, The Appellate Division, Second Department issued a decision in Myrtle 684, LLC v. Tauber, 2020 NY Slip Op. 07901, holding that a deed recorded under a debtor’s correct surname was created a valid lien even though the debtor’s first name was not correctly spelled, explaining: CPLR 5203(a) gives priority to a... Read more »

Posted: May 15, 2020

Accounts Receivable are Tangible Assets

On May 1, 2020, the Fourth Department issued a decision in Violet Realty, Inc. v. Amigone, Sanchez & Mattrey, LLP, 2020 NY Slip Op. 02592, holding that accounts receivable are tangible assets, explaining: We agree with plaintiff, however, that the court erred in granting defendant’s cross motion insofar as it seeks a determination that defendant’s... Read more »

Posted: April 25, 2020

Failure to Serve Judgment Debtor Dooms Creditor’s Attempts to Collect

On April 10, 2020, Justice Borrok of the New York County Commercial Division issued a decision in Kasen v. Mission Cantina, LLC, 2020 NY Slip Op. 30929(U), holding that the failure to serve the judgment debtor doomed a creditor’s attempts to collect, explaining: CPLR § 5225 (a) provides: (a) Property in the possession of judgment... Read more »

Posted: January 7, 2020

Judgment Creditor Did Not Create Lien on Debtor’s Property Because Debtor’s Name Was Misspelled

On December 18, 2019, the Second Department issued a decision in Matter of Fischer v. Chabbott, 2019 NY Slip Op. 09002, holding that a judgment creditor failed to create a lien on a debtor’s property because the debtor’s name was misspelled on the judgment the creditor had docketed, explaining: CPLR 5203(a) gives priority to a... Read more »

Posted: January 5, 2020

Foreign Judgment Takes Precedence over Settlement Agreement That the Judgment Enforced

On December 24, 2019, the Second Department issued a decision in Bernardo v. Ramos, 2019 NY Slip Op. 09245, holding that a foreign judgment takes precedence over a settlement agreement that the judgment enforced, explaining: The parties entered into a compromise agreement dated May 18, 2004, in the Philippines, whereby the defendant agreed to pay... Read more »