Summary Judgment Denied Due to Failure to Submit Affidavit Attesting to Personal Knowledge of the Relevant Facts

Summary Judgment Denied Due to Failure to Submit Affidavit Attesting to Personal Knowledge of the Relevant Facts

On April 12, 2022, the First Department issued a decision in Board of Mgrs. of 150 E. 72nd St. Condominium v. Vitruvius Estates LLC, 2022 NY Slip Op. 02358, denying a motion for summary judgment because the movant failed to submit an affidavit based on personal knowledge of the relevant facts . . . Continue reading Summary Judgment Denied Due to Failure to Submit Affidavit Attesting to Personal Knowledge of the Relevant Facts

FAA Preempts GBL Provision Exempting Consumer Transactions from Mandatory Arbitration

FAA Preempts GBL Provision Exempting Consumer Transactions from Mandatory Arbitration

On April 8, 2022, Justice Walsh of the Westchester County Commercial Division issued a decision in, Lobel v. CCAP Auto Lease, Ltd., 2022 NY Slip Op. 50256(U), holding that the FAA preempts the contrary GBL provision exempting consumer transactions from the reach of mandatory arbitration clauses . . . . Continue reading FAA Preempts GBL Provision Exempting Consumer Transactions from Mandatory Arbitration

Counterclaims Seeking Equitable Relief Dismissed Because There Was an Adequate Remedy at Law

Counterclaims Seeking Equitable Relief Dismissed Because There Was an Adequate Remedy at Law

On April 6, 2022, Justice Emerson of the Suffolk County Commercial Division issued a decision in HK Ventures LLC v. Hason, 2022 NY Slip Op. 50260(U), dismissing counterclaims seeking equitable relief because there was an adequate remedy at law . . . Continue reading Counterclaims Seeking Equitable Relief Dismissed Because There Was an Adequate Remedy at Law

Creditors Do Not Have Standing to Bring a Breach of Fiduciary Claim Under Delaware Law

Creditors Do Not Have Standing to Bring a Breach of Fiduciary Claim Under Delaware Law

On April 11, 2022, Justice Borrok of the New York County Commercial Division issued a decision in Alesco Preferred Funding VIII, Ltd. v. ACP RE, Ltd., 2022 NY Slip Op. 50258(U), holding that creditor could not assert a breach of fiduciary duty claim under Delaware law . . . Continue reading Creditors Do Not Have Standing to Bring a Breach of Fiduciary Claim Under Delaware Law

Where Members Fail to Sign LLC Operating Agreement, LLC is Governed by Default Rules of LLC Law

Where Members Fail to Sign LLC Operating Agreement, LLC is Governed by Default Rules of LLC Law

On April 1, 2022, Justice Boddie of the Kings County Commercial Division issued a decision in Family Group 188, LLC v. Foukas, 2022 NY Slip Op. 30764(U), holding that where members of an LLC fail to sign an LLC operating agreement, the LLC is governed by the default rules of the LLC Law . . . Continue reading Where Members Fail to Sign LLC Operating Agreement, LLC is Governed by Default Rules of LLC Law

Motion for Summary Judgment in Lieu of Complaint Fails Because the Amount of the Underlying Debt Not Established

Motion for Summary Judgment in Lieu of Complaint Fails Because the Amount of the Underlying Debt Not Established

On March 8, 2022, Justice Cohen of the New York County Commercial Division issued a decision in Sanghvi Diamonds LLC v. Agadjani, 2022 NY Slip Op. 30738(U), denying a motion for summary judgment in lieu of complaint because the amount of the underlying debt was not established in the agreement sued upon . . . Continue reading Motion for Summary Judgment in Lieu of Complaint Fails Because the Amount of the Underlying Debt Not Established