Led by New York Litigation Partner, Chris Zona, Mandelbaum Barrett PC won summary judgment on behalf of its commercial lender client in New York’s Commercial Division on May 21, 2024. The judgment secured by Mandelbaum Barrett PC totals more than $14 million and will continue to grow at the rate of 9% per year until fully satisfied. This marks a major victory for Mandelbaum’s client as this judgment can now be used in other jurisdictions to begin collection actions against the defendants and their assets.
This litigation was filed in late-November 2023 to enforce repayment obligations that the defendants had guaranteed to the commercial lender and subsequently defaulted on. The outstanding payments due to the commercial lender totaled nearly $13 million with certain other contractual interest due upon default (totaling over $1 million). Mandelbaum Barrett PC utilized a New York-specific procedural device by filing this action as a motion for summary judgment in lieu of complaint under CPLR 3213. While the action was pending, the Mandelbaum Team also overcame two separate bankruptcy filings by the defendants aimed at delaying the proceedings. Working seamlessly across practice groups, members of the Firm’s Litigation and Bankruptcy Departments challenged each filing and won the dismissal of one petition and relief from the automatic stay in the other. This cross-practice functionality enabled Mandelbaum’s client to receive its $14 million judgment only six months after the case was first filed. This victory demonstrates Mandelbaum Barrett PC’s prowess in New York-specific litigation as well as its unique ability to prosecute major cases across practice groups with lean and efficient trial teams.
The commercial lender is represented by Partners Jeffrey Rosenthal and Richard Simon, who co-head the Firm’s Banking and Financial Services Practice Group, as well as Bankruptcy Partner Vincent Roldan and Banking and Bankruptcy Associate Ann Lee. Litigation Partner Chris Zona handled this matter and serves as this client’s primary trial counsel in various actions across multiple jurisdictions.
These stories are successful case results from our attorneys. Please note that results may vary depending on your particular facts and legal circumstances.