VALLEY NATL. BANK v. PAIGE ONE, LLC

Index No. 657354/17. Appeal No. 13208. Case No. 2020-03635.

191 A.D.3d 622 (2021)

143 N.Y.S.3d 19

2021 NY Slip Op 01224

Valley National Bank, Respondent, v. Paige One, LLC, Appellant.

Appellate Division of the Supreme Court of New York, First Department.

Decided February 25, 2021.


Attorney(s) appearing for the Case

Klestadt Winters Jureller Southard & Stevens, LLP, New York ( John E. Jureller, Jr. of counsel), for appellant.

Zeichner Ellman & Krause LLP, New York ( Bruce S. Goodman of counsel), for respondent.

Concur—Acosta, P.J., Renwick, Singh, Mendez, JJ.


Pursuant to a number of participation agreements, defendant assigned a number of loans to plaintiff, including, in June 2016, about 88% of the subject Muspass loan. The relevant participation agreement contained a buyback provision, requiring defendant to buy back the loan upon the borrower's default and a buy back demand from plaintiff. In May 2017, defendant assigned the balance of the Muspass loan to plaintiff, along with assignments of a quantity of other loans. The assignment...

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