Carter Ledyard helped one of its merchant cash advance clients prevail in a litigation in which a merchant sought to vacate a judgment entered against it by our client based on an affidavit of confession of judgment. Confessions of judgment are commonly used in New York state to ensure a party’s performance of its obligations by authorizing entry of judgment against that party in a designated county if the party fails to perform, thereby avoiding the need for time-consuming litigation. The merchant here was based outside of New York and asserted that the affidavit of confession of judgment was invalid because it provided that it could be entered in any county in New York state instead of designating a single county. In one of the first New York state decisions on the issue, the court held that an out-of-state defendant’s designation in an affidavit of confession of judgment of multiple counties for entry of judgment does not preclude enforcement of the confession of judgment. The court also found that it could not inquire into the bona fides of the underlying transaction that was secured by the confession of judgment on a motion to vacate the judgment. The decision clarifies an emerging area of law at a time when the use of (and challenges to) affidavits of confession of judgment are becoming increasingly frequent. Carter Ledyard attorneys Jacob H. Nemon and Jeffrey S. Boxer drafted the successful opposition papers.
Ms. Mann was asked to comment on the lawsuit alleging that the Trump Foundation charity used funds for personal and political purposes.
Carter Ledyard is pleased to welcome the arrival of Ms. Dreizen to the firm as Counsel in the Corporate department.
Carter Ledyard client Global SC Finance IV Limited completed an offering of $196 million of fixed rate asset backed notes.
Judith discusses the benefits and risks of arbitration of art disputes in the newly created process at the Netherlands Arbitration Institute.
Jack was honored with the Chairman's Award, in recognition of his "tireless efforts and unending dedication to the foundation."
Mr. McCarthy has joined the firm as a partner in the Litigation Department, bringing with him years of experience in international litigation and arbitration.
Our 2017 Year in Review highlights the cutting-edge work of our clients, both foreign and domestic, and some of the ways we helped them succeed.
Over breakfast at the midtown office, more than 30 members of the private equity community gathered to create a deal flow for all concerned.
Val Vasi discussed aint-money laundering (AML) guidelines in the art world and AML regulations in the financial services industry
Carter Ledyard client Lisa Schwarz, developer of the Comprehensive Resource Model trauma treatment model, prevailed on her motion for contempt against Dr. David Grand in proceedings in the Federal District Court for the…
Together with Her Justice, Carter Ledyard attorneys were successful in guiding pro bono clients apply for their U-Visa, obtain deferred and final approval of legal status, and receive employment authorization.