Commercial Case Notes analyzes legal topics of interest in recent decisions from or relating to New York’s Commercial Division
On January 26, 2023, the First Department issued a decision in Claim Recovery Group LLC v. Markel Corp., 2023 NY Slip Op. 00371, holding that a term sheet was a binding agreement . . . Continue reading Term Sheet Binding Agreement
On January 4, 2023, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Fink v. 218 Hamilton LLC, 2023 NY Slip Op. 30092(U), holding that a time of the essence letter set the deadline to close a purchase transaction . . . Continue reading Time of the Essence Letter Set Deadline to Close Purchase Transaction
On January 17, 2023, Justice Crane of the New York County Commercial Division issued a decision in Matter of Elkay Plastics Co., Inc. v. Astzen Group LLC, 2023 NY Slip Op. 30162(U), holding that an arbitrator had the authority to award attorneys’ fees as a discovery sanction . . . Continue reading Arbitrator Could Award Attorneys’ Fees as a Discovery Sanction
On January 10, 2023, Justice Crane of the New York County Commercial Division issued a decision in ERA Capital L.P. v. Soleil Chartered Bank, 2023 NY Slip Op. 30121(U), holding that a bank did not have a fiduciary duty to its customer . . . Continue reading Bank Did Not Have Fiduciary Duty to Customer
On January 13, 2023, Justice Masley of the New York County Commercial Division issued a decision in Bangladesh Bank v. Rizal Commercial Banking Corp., 2023 NY Slip Op. 30145(U), holding that claims for civil conspiracy and aiding and abetting were not duplicative . . . Continue reading Claims for Conspiracy and Aiding and Abetting are not Duplicative
On January 5, 2023, Justice Reed of the New York County Commercial Division issued a decision in Magnetic Parts Trading Ltd. v. National Air Cargo Group, Inc., 2023 NY Slip Op. 30166(U), holding that delay without prejudice is an insufficient basis for denying a motion to amend . . . Continue reading Delay Without Prejudice is Insufficient Basis for Denying a Motion to Amend
On January 13, 2023, Justice Masley of the New York County Commercial Division issued a decision in One PPW Owner, LLC v. IBI Group, 2023 NY Slip Op. 30167(U), holding that when an issue on a motion to dismiss was one of law, the court could convert the motion to on for summary judgment without notice . . . Continue reading When Issue Was Solely a Question of Law, Court Could Convert Motion to Dismiss to Motion for Summary Judgment Without Notice
On January 10, 2023, Justice Masley of the New York County Commercial Division issued a decision in Lola Unlimited LLC v. KME Holdings LLC, 2023 NY Slip Op. 30172(U), dismissing a fraud claim due to the plaintiff’s failure to exercise due diligence . . . Continue reading Fraud Claim Dismissed Due to Plaintiff’s Failure to Exercise Due Diligence
On January 18, 2023, the Second Department issued a decision in JP Morgan Chase Bank, NA v. Cantwell, 2023 NY Slip Op. 00210, holding that a borrower’s discharge in bankruptcy did not bar a foreclosure action . . . Continue reading Borrower’s Discharge in Bankruptcy Does Not Bar Action to Foreclose
On January 19, 2023, the First Department issued a decision in HOV Servs., Inc. v. ASG Tech. Group, Inc., 2023 NY Slip Op. 00237, holding that a plaintiff could not assert a fraudulent inducement claim based on an omission when the defendant had no duty to the plaintiff . . . Continue reading Fraudulent Inducement Claim Based on Omission Fails for Lack of Duty to Plaintiff
