Bank v. Galt Group Inc.
| Decision Date | 17 May 2011 |
| Citation | 2011 N.Y. Slip Op. 04208,923 N.Y.S.2d 643,84 A.D.3d 1028 |
| Parties | JPMORGAN CHASE BANK, N.A., respondent,v.GALT GROUP, INC., doing business as Enhance Face & Body, et al., appellants. |
| Court | New York Supreme Court — Appellate Division |
OPINION TEXT STARTS HERE
Edward I. Yatkowsky, White Plains, N.Y., for appellants.Helfand & Helfand, New York, N.Y. (Aaron Weissberg of counsel), for respondent.REINALDO E. RIVERA, J.P., PETER B. SKELOS, ANITA R. FLORIO, and LEONARD B. AUSTIN, JJ.
In an action to recover on a promissory note and unconditional personal guaranties, the defendants appeal from an order of the Supreme Court, Westchester County (Murphy, J.), entered March 17, 2010, which granted the plaintiff's motion for summary judgment on the complaint and dismissing the defendants' affirmative defenses and counterclaims.
ORDERED that the order is affirmed, with costs.
The defendant Bonnie Eskow–Hagen is the president of the defendant Galt Group, Inc., doing business as Enhance Face & Body (hereinafter Galt). On October 8, 2003, Galt entered into an agreement with the plaintiff, JPMorgan Chase Bank, N.A. (hereinafter Chase), for a United States Small Business Administration loan (hereinafter the SBA Loan), pursuant to which Galt borrowed $400,000 for the purpose of purchasing, renovating, and operating a day spa in Hartsdale. Eskow–Hagen and her husband, the defendant Karl G. Hagen, both signed personal guaranties in connection with the loan. The day spa was forced to close in January 2008. Galt defaulted on the SBA Loan that month, and Chase commenced this action against Galt, Eskow–Hagen, and Hagen (hereinafter collectively the defendants) shortly thereafter.
Chase and the defendants entered into a forbearance agreement on April 7, 2008, pursuant to which the defendants agreed to make certain payments, and Chase agreed to forbear in the prosecution of this action. In a letter dated July 13, 2009, Chase informed the defendants that they had not made any forbearance payments since February 19, 2009, and advised them to serve an answer to the complaint. The defendants thereafter served an answer dated September 8, 2009.
Chase moved for summary judgment on the complaint and dismissing the affirmative defenses and counterclaims set forth in the answer, submitting, in support of the motion, inter alia, the relevant promissory notes and agreements. In opposition, the defendants submitted a series of e-mails which, they argued, demonstrated that they had entered into yet another agreement with Chase, by which Chase agreed to forbear from prosecuting this action while the defendants were given an apparently unlimited time to obtain a refinancing loan to pay off or pay down the...
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