The Firm represented the former owner (the Seller) of an automobile repair business. The Purchaser, despite signing a Mortgage and Note to secure the Seller for sums due incident to the sale of the business and realty, defaulted on payment of both the realty note and stock purchase note.
The Firm filed a CPLR 3213 motion for summary judgment in lieu of complaint in the Commercial Division of Nassau County and overcame the default defenses proffered by the Purchasers. The Firm recovered for the Client every dollar due under the two notes, plus default interest and counsel fees, amounting to nearly $700,000.
Key to the recovery was the expediated nature of the same, achieved without the need for traditional discovery, a hearing, or trial.
