When Guarantor Buys Underlying Debt, Any Action to Collect from Co-Guarantors Is one for Contribution, not Enforcement of the Guaranty
Commercial Case Notes / Guaranties

When Guarantor Buys Underlying Debt, Any Action to Collect from Co-Guarantors Is one for Contribution, not Enforcement of the Guaranty

On November 23, 2021, the First Department issued a decision in Harry Spring Consulting LLC v. Esterson, 2021 NY Slip Op. 06543, holding that when a guarantor buys the debt it guaranteed, an action to collect from the co-guarantors is one for contribution, not enforcement of the guaranty . . . Continue reading When Guarantor Buys Underlying Debt, Any Action to Collect from Co-Guarantors Is one for Contribution, not Enforcement of the Guaranty

Limited Partner Denied Intervention in Suit by Partnership When it Asserts Same Claims as Partnership
Commercial Case Notes / Intervention

Limited Partner Denied Intervention in Suit by Partnership When it Asserts Same Claims as Partnership

On October 1, 2021, Justice Karalunas of the Onondaga County Commercial Division issued a decision in Inner Harbor Phase I, L.P. v. COR Inner Harbor Co., LLC, 2021 NY Slip Op. 51083(U), denying a motion to intervene by a limited partner in a suit by the partnership when the limited partner’s claims were the same as the partnership’s . . . Continue reading Limited Partner Denied Intervention in Suit by Partnership When it Asserts Same Claims as Partnership

Allegation Made Upon Information and Belief Sufficient When Facts Peculiarly Within Defendant’s Knowledge
Commercial Case Notes / Motion to Dismiss

Allegation Made Upon Information and Belief Sufficient When Facts Peculiarly Within Defendant’s Knowledge

On October 26, 2021, Justice Cohen of the New York County Commercial Division issued a decision in Xiaoyan Lu v. Sagewood SFF III LLC, 2021 NY Slip Op. 32285(U), holding that allegations made upon information and belief are sufficient when the facts are peculiarly within the defendant’s knowledge . . . Continue reading Allegation Made Upon Information and Belief Sufficient When Facts Peculiarly Within Defendant’s Knowledge