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July 22, 2024
Bankruptcy Order Benefiting Borrower Does Not Affect Guarantor's Obligations
On May 30, 2024, Justice Andrew Borrok of the New York County Commercial Division issued a decision in Harlem Multifamily LLC v. Reifer, Index No. 850009/2020, holding that a bankruptcy-court order that inured to the borrower's benefit did not relieve the non-debtor guarantor of his separate obligations under two guaranties, explaining: Read More
May 29, 2024
Bankruptcy Filing, Which Was Later Dismissed, Did Not Excuse Buyer Under Loan Sale Agreement From "Time of the Essence" Requirement to Close
On April 12, 2024, Justice Margaret Chan of the New York County Commercial Division issued a decision in Wilmington Trust, N.A. v. 39-05 29th St Hotel, LLC, et al., Index No. 654401/2023, denying a motion to dismiss brought by the defendant-buyer under a Loan Sale Agreement for breach of this agreement and rejecting the defendant-buyer's argument that its bankruptcy filing, which was later dismissed, waived the plaintiff-seller's right to demand a time-of-the-essence closing, explaining: Read More
January 9, 2023
Proof of Borrower's Bankruptcy Filing Permitted on Motion for Summary Judgment in Lieu of Complaint Against Guarantor
On December 29, 2022, Justice Andrea Masley of the New York County Commercial Division issued a decision in ATX Braker LLC v. Paul, 2022 N.Y. Slip Op. 34427(U), granting a lender's motion for summary judgment in lieu of complaint on a guaranty that was triggered when the borrower filed for bankruptcy, explaining: Read More
December 3, 2020
Federal Bankruptcy Law Does Not Preempt Tortious Interference Claim by Non-Debtors
On November 24, 2020, the Court of Appeals issued a decision in Sutton 58 Assoc. LLC v. Pilevsky, 20… Read More
March 10, 2018
Court Denies Stay Despite Necessary Party Being Bankrupt
On February 6, 2018, Justice Kornreich of the New York County Commercial Division issued a decision … Read More
October 31, 2016
In Pari Delicto Defense Can Be Asserted Against Bankruptcy Trustee
On October 18, 2016, the First Department issued a decision in New Greenwich Litigation Trustee, LLC… Read More
June 12, 2016
State Court Can Determine Dischargeability of Debt Not Scheduled in Bankruptcy Case
On May 31, 2016, Justice Ostrager of the New York County Commercial Division issued a decision in Gl… Read More
June 10, 2016
State Court Has Power to Extend Bankruptcy Stay to Non-Bankrupt Party
On May 25, 2016, Justice Singh of the New York County Commercial Division issued a decision in Deuts… Read More
November 30, 2014
Court Declines to Stay Action in Favor of Pending Bankruptcy
On November 10, 2014, Justice Schweitzer of the New York County Commercial Division issued a decisio… Read More
