Valley National Bank v. Gurba

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 plaintiffs 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…