Yellowstone Injunction Denied Because of Tenant’s Inability to Show That it Could Cure Rent Payment Default
Commercial Case Notes / Real Property

Yellowstone Injunction Denied Because of Tenant’s Inability to Show That it Could Cure Rent Payment Default

On July 10, 2024, Justice Masley of the New York County Commercial Division issued a decision in Wilmington Trust, N.A. v. Elmwood NYT Owner, LLC, 2024 NY Slip Op. 32816(U), denying a Yellowstone injunction because of the tenant’s inability to show that it could cure a rent payment default . . . Continue reading Yellowstone Injunction Denied Because of Tenant’s Inability to Show That it Could Cure Rent Payment Default

Under Continuing Wrong Doctrine, New Claim Accrued Each Time Defendant Failed to Make a Quarterly Payment
Commercial Case Notes / Statute of Limitation/Laches

Under Continuing Wrong Doctrine, New Claim Accrued Each Time Defendant Failed to Make a Quarterly Payment

On August 15, 2024, the First Department issued a decision in Hai-2, LLC v. Blackrock Fin. Mgt., Inc., 2024 NY Slip Op. 04226, holding that under the continuing wrong doctrine, a new claim accrued each time the defendant failed to make a quarterly payment . . . Continue reading Under Continuing Wrong Doctrine, New Claim Accrued Each Time Defendant Failed to Make a Quarterly Payment

Receiver’s Fees Capped by CPLR § 8004(a) Despite Court Order Allowing Payment at Receiver’s Usual Rate
Commercial Case Notes / Court Rules and Procedures

Receiver’s Fees Capped by CPLR § 8004(a) Despite Court Order Allowing Payment at Receiver’s Usual Rate

On August 2, 2024, Justice Cohen of the New York County Commercial Division issued a decision in Law Off. of Mark S. Helweil v. Karambelas, 2024 NY Slip Op. 32693(U), holding that a receiver’s fees were capped by CPLR § 8004(a) despite s court order allowing payment at the receiver’s usual rate . . . Continue reading Receiver’s Fees Capped by CPLR § 8004(a) Despite Court Order Allowing Payment at Receiver’s Usual Rate

LLC’s Failure to Appear By Counsel Leads to its Default
Commercial Case Notes / Law Firms and Professional Ethics

LLC’s Failure to Appear By Counsel Leads to its Default

On August 1, 2024, Justice Cohen of the New York County Commercial Division issued a decision in Downtown Special Situations Holdings, LLC v. Mills Dental-Downtown Brooklyn, PLLC, 2024 NY Slip Op. 32698(U), holding that the failure of a limited liability company to appear by counsel lead to entry of default judgment against it . . . Continue reading LLC’s Failure to Appear By Counsel Leads to its Default

Decision of Whether Contract is Void as Usurious Was For Arbitrator, Not Court
Arbitration, Mediation and Other ADR / Commercial Case Notes

Decision of Whether Contract is Void as Usurious Was For Arbitrator, Not Court

On August 2, 2024, Justice Cohen of the New York County Commercial Division issued a decision in Vaidya v. Itria Ventures LLC, 2024 NY Slip Op. 32709(U), holding that the decision of whether a contract was void because it was usurious was for the arbitrator, not the court . . . Continue reading Decision of Whether Contract is Void as Usurious Was For Arbitrator, Not Court

Guaranty’s Reference to Performance of Obligations Did Not Bar Summary Judgment in Lieu of Complaint
Commercial Case Notes / Summary Judgment

Guaranty’s Reference to Performance of Obligations Did Not Bar Summary Judgment in Lieu of Complaint

On August 2, 2024, Justice Patel of the New York County Commercial Division issued a decision in Acquiom Agency Servs. LLC v. Fox Capital LLC, 2024 NY Slip Op. 51000(U), holding that a guaranty’s reference to performance of obligations did not bar summary judgment in lieu of complaint . . . Continue reading Guaranty’s Reference to Performance of Obligations Did Not Bar Summary Judgment in Lieu of Complaint