According to Part 5 of the New York Governor’s 2019 Justice Agenda, which is available online at
https://www.governor.ny.gov/sites/governor.ny.gov/files/atoms/files/2019StateoftheStateBook.pdf, New York Governor Andrew Cuomo will propose legislation severely limiting the use of confessions of judgment (COJ) in New York. Such legislation will directly impact the ability of MCA funders that rely on New York courts to collect from merchants and guarantors who default on MCAs. Without the option of a COJ, such funders will only be able to obtain judgments through litigation and will have to rely on skilled litigators to avoid the delays and expenses that are typical to litigation. Gene Rosen’s Law Firm specializes in MCA litigation and assists funders in collecting from merchants and guarantors that are in default of their MCAs
