settlement agreement can be a money only payment instrument under CPLR 3213 | Schlam Stone & Dolan LLP

In a notice dated July 25, 2022, in Newco Capital Group VI, LLC vs. Teleescrow, Inc. and Tristan Desechenes, Judge Melissa Anne Crane granted the plaintiff’s motion for summary judgment in lieu of a complaint as to the amount of the settlement agreement. The Court explained:

On the merits, under CPLR 3213, a plaintiff may serve a motion for summary judgment instead of a complaint where an action is “based on an instrument of payment of money only” (see CPLR 3213; Weissman v Sinorm Deli, Inc and Richard A. Cummings, 88 NY2d 437, 443-444, 669 NE2d 242, 646 NYS2s 308 [1996]. A settlement agreement that contains an “unconditional promise” to pay a particular sum of money is a “money only payment instrument” under CPLR 3213 (Park Union Condominium et al. v 910 Union Street, LLC, 140 AD3d 673, 673 -674, 33 NYS3d 733 [1st Dept 2015]).

Plaintiff demonstrates, prima facie, that pursuant to a settlement agreement and security, Defendants unconditionally agreed to pay Plaintiffs $1,315,140.30, consisting of a payment of $800,000.00 to be paid by February 7, 2022 and another installment of $515,000.00 to be paid by March 4, 2022. (NYSCEF Doc. No. 5). Plaintiff further demonstrates through the affidavit of Gabriel Benji, Senior ISO Director of Newco Capital Group LLC [plaintiff s parent company], that the defendants have not paid any part of the settlement amount (NYSCEF Doc. No. 3, ¶ 25). Plaintiff’s motion for summary judgment in lieu of complaint is granted as to the amount of $1,315,140.30 in the settlement agreement and bond.