| Valley Natl. Bank v Gurba |
| 2017 NY Slip Op 02601 [149 AD3d 412] |
| April 4, 2017 |
| Appellate Division, First Department |
| Published by New York State Law Reporting Bureau pursuant to Judiciary Law § 431. |
| Valley National Bank, as Successor to the Park Avenue Bank,
Respondent, v Stephen L. Gurba et al., Appellants. |
The Law Offices of Thomas M. Mullaney, New York (Thomas M. Mullaney of counsel), for Stephen L. Gurba, appellant.
Fischer Law Group, New York (Andrea Fischer of counsel), for Evelyn Gurba, appellant.
Kriss & Feuerstein LLP, New York (Dwight Yellen of counsel), for respondent.
Order, Supreme Court, New York County (Arthur F. Engoron, J.), entered December 15, 2014, which, after an inquest, dismissed defendants' affirmative defense of failure to mitigate and directed entry of judgment in plaintiff's favor in the total amount of $4,905,185.26, unanimously affirmed, without costs.
The motion court correctly dismissed the defense of failure to mitigate, since plaintiff had no duty to sell the nonperishable collateral at any particular time, regardless of the demand of defendants (see First Intl. Bank of Israel v Blankstein & Son, 59 NY2d 436, 447 [1983]). The court also correctly allowed the calculation of the debt based on default interest, where plaintiff had the clear contractual right to impose such interest once a default occurred.
The fraud defenses were dismissed in another order not appealed from, and, in any event, the defenses were correctly dismissed, as there was no writing that met the requirements of 12 USC § 1823 (e) (1) (see Aurora Loan Servs. LLC v Sadek, 809 F Supp 2d 235, 241 [SD NY 2011]). Concur—Friedman, J.P., Sweeny, Moskowitz, Gische and Kapnick, JJ.