Steven Newman and Robert Abrams Score Summary Judgment Against well Known Property Owner Who Defaulted On His Commercial Loan
Katsky Korins partners Steven Newman and Robert Abrams recently obtained, on behalf of a mortgage lender, a significant decision from New York County Supreme Court Justice Francis A. Kahn, III. Justice Kahn granted summary judgment, finding that the lender properly accelerated the loan after two missed payments. The Court also rejected all of defendants’ 16 defenses, include their defense of “unconscionability” based on the lender’s rejection of the guarantor’s belated tender of missed installment payments, finding that, after the acceleration of the loan, the full amount of the loan was required to be paid.
The decision can be viewed here (PDF).