Fraudulent Inducement Claim Cannot be Based on Alleged Lack of Intention to Perform a Contract

Fraudulent Inducement Claim Cannot be Based on Alleged Lack of Intention to Perform a Contract

On February 15, 2022, the First Department issued a decision in Rising Sun Constr. L.L.C. v. CabGram Dev. LLC, 2022 NY Slip Op. 00989, holding that a fraudulent inducement claim cannot be based on a party’s alleged intention not to perform a contract . . . Continue reading Fraudulent Inducement Claim Cannot be Based on Alleged Lack of Intention to Perform a Contract

First-Filed Action to Recover on Guaranty Stayed in Favor of Later Action Related to the Guarantied Obligation

First-Filed Action to Recover on Guaranty Stayed in Favor of Later Action Related to the Guarantied Obligation

On February 8, 2022, the First Department issued a decision in E D & F Man Sugar Ltd. v. Gellert, 2022 NY Slip Op. 00813, staying a first-filed action to recover on a guaranty in favor of a later-filed action related to the guarantied obligation . . . Continue reading First-Filed Action to Recover on Guaranty Stayed in Favor of Later Action Related to the Guarantied Obligation

Benchmark Manipulation: SIBOR Update, Part II

Benchmark Manipulation: SIBOR Update, Part II

Before diving into this post, I’d recommend you click back to catch up on the Second Circuit’s vacatur and Plaintiffs’ filing of their Fourth Amended Complaint. In this installment, we will cover the opening and opposition briefing on the motion to dismiss; stay tuned for Part III for details on the reply and sur-reply briefing.   Continue reading Benchmark Manipulation: SIBOR Update, Part II

That Guaranty Was Part of a Larger Transaction Does Not Bar Motion for Summary Judgment in Lieu of Complaint

That Guaranty Was Part of a Larger Transaction Does Not Bar Motion for Summary Judgment in Lieu of Complaint

On February 8, 2022, the First Department issued a decision in Arbor-Myrtle Beach PE LLC v. Frydman, 2022 NY Slip Op. 00806, holding that a motion for summary judgment in lieu of complaint on a guaranty was not barred by the existence of a larger transaction . . . Continue reading That Guaranty Was Part of a Larger Transaction Does Not Bar Motion for Summary Judgment in Lieu of Complaint