After a Motion to Dismiss Has Been FiIed, Any Discontinuance Must be by Consent or Court Order

After a Motion to Dismiss Has Been FiIed, Any Discontinuance Must be by Consent or Court Order

On May 23, 2022, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Bank of Am., N.A. v. Dollar Phone Corp., 2022 NY Slip Op. 31777(U), holding that after a motion to dismiss has been made, any discontinuance must be by court order or consent . . . Continue reading After a Motion to Dismiss Has Been FiIed, Any Discontinuance Must be by Consent or Court Order

Court Looks to Plaintiff’s Place of Business, not its Place of Incorporation, in Applying New York’s Borrowing Statute

Court Looks to Plaintiff’s Place of Business, not its Place of Incorporation, in Applying New York’s Borrowing Statute

On June 1, 2022, Justice Cohen of the New York County Commercial Division issued a decision in Andes Petroleum Ecuador Ltd. v. Occidental Petroleum Corp., 2022 NY Slip Op. 31751(U), looking to a plaintiff’s place of business, not its place of incorporation, in applying New York’s borrowing statute . . . Continue reading Court Looks to Plaintiff’s Place of Business, not its Place of Incorporation, in Applying New York’s Borrowing Statute

Loan Servicer’s Affidavit Without Supporting Business Records Insufficient to Prove Failure to Pay Loan

Loan Servicer’s Affidavit Without Supporting Business Records Insufficient to Prove Failure to Pay Loan

On June 15, 2022, the Second Department issued a decision in U.S. Bank N.A. v. Kahn Prop. Owner, LLC, 2022 NY Slip Op. 03921, holding that a loan servicer’s affidavit without supporting business records was insufficient to prove a borrower’s failure to pay . . . Continue reading Loan Servicer’s Affidavit Without Supporting Business Records Insufficient to Prove Failure to Pay Loan

CPLR 205 Does Not Allow Trustee to Commence a New Action After an Earlier Action on Behalf of the Trust Impermissibly Was Brought by a Certificateholder

CPLR 205 Does Not Allow Trustee to Commence a New Action After an Earlier Action on Behalf of the Trust Impermissibly Was Brought by a Certificateholder

On June 16, 2022, the Court of Appeals issued a decision in ACE Sec. Corp. v. DB Structured Prods., Inc., 2022 NY Slip Op 03927, holding that CPLR 205 does not allow an RMBS trustee to commence a new action after an earlier action impermissibly brought on behalf of the trust by a certificateholder was dismissed . . . Continue reading CPLR 205 Does Not Allow Trustee to Commence a New Action After an Earlier Action on Behalf of the Trust Impermissibly Was Brought by a Certificateholder