On May 17, 2023, the Second Department issued a decision in EW Studio, Inc. v. AT&T Mobility, LLC, 2023 NY Slip Op. 02646, holding that when an arbitration is dismissed on procedural grounds, a court must decide the dispute . . . Continue reading When Arbitration is Dismissed on Procedural Grounds, Court Must Decide Dispute
On May 17, 2023, the Second Department issued a decision in Matter of Mirzakandov v. Mazal U Bracha, LLC, 2023 NY Slip Op. 02663, holding that a court must determine whether a party agreed to be bound by an agreement to arbitrate . . . Continue reading Court Must Determine Whether a Party Agreed to be Bound by an Agreement to Arbitrate
On May 17, 2023, the Second Department issued a decision in WBXB, LLC v. Rosswaag, 2023 NY Slip Op. 02708, construing a contract to avoid violating the rule against perpetuities . . . Continue reading Court by Construction Saves Agreement from Violating the Rule Against Perpetuities
On May 18, 2023, the First Department issued a decision in Atlantis Mgt. Group II LLC v. Nabe, 2023 NY Slip Op. 02737, holding that a liquidated damages clause was an unenforceable penalty . . . Continue reading Liquidated Damages Clause Unenforceable Penalty
On May 18, 2023, the First Department issued a decision in Fraiture v. Board of Directors of 44 King St., Inc., 2023 NY Slip Op. 02741, holding that a party was not entitled to privileged documents under the fiduciary exception . . . Continue reading Party Not Entitled to Privileged Documents Under Fiduciary Exception
On April 17, 2023, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Joseph v. Rassi, 2023 NY Slip Op. 31261(U), holding that in-house counsel that has not appeared in an action cannot be the subject of a motion for disqualification . . . Continue reading In-House Counsel That Has Not Appeared in an Action Cannot be the Subject of a Motion for Disqualification
On April 17, 2023, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Goldman Sachs Bank USA v. Wagschal, 2023 NY Slip Op. 31263(U), holding that nail and mail service was inadequate because the process server failed to attempt service at the defendant’s business address . . . Continue reading Nail and Mail Service Inadequate for Lack of Attempt to Service at the Defendant’s Business Address
On May 2, 2023, Justice Chan of the New York County Commercial Division issued a decision in Prospect Capital Corp. v. Morgan Lewis & Bockius LLP, 2023 NY Slip Op. 31505(U), holding that a plaintiff allegedly read a negligently drafted agreement does not bar a malpractice claim regarding the agreement . . . Continue reading That Plaintiff Read an Allegedly Negligently Drafted Agreement Does Not Bar a Legal Malpractice Claim
We have written extensively on LIBOR-related issues over the years, and we were interested to see the two recent publications by Andy Verity, the BBC’s economics correspondent, in The Times (see here and here). The linked articles are extracts from Verity’s upcoming book, Rigged, which investigates the LIBOR-rigging scandal—and presents claims that “investigating agencies, including the FBI in the United States and Britian’s financial regulator, were told in November 2010 of an international drive to get Libor and Euribor rates down, regardless of the real cost of borrowing cash.” Continue reading LIBOR Update: Rigged Revelations
On May 4, 2023, Justice Boddie of the Kings County Commercial Division issued a decision in ONH 14 53rd ST, LLC v. TPG RE Fin. 2, Ltd., 2023 NY Slip Op.. 50421(U), holding that a promissory estoppel claim failed because the plaintiff’s actions were not unequivocally referable to the alleged promise . . . Continue reading Promissory Estoppel Claim Fails Because Plaintiff’s Actions Were Not Unequivocally Referable to the Alleged Promise
