Assignment of Claims for Purpose of Suing on Them to Recover Damages Not Champertous

Assignment of Claims for Purpose of Suing on Them to Recover Damages Not Champertous

On March 1, 2023, Justice Crane of the New York County Commercial Division issued a decision in IKB Intl. S.A. v. Morgan Stanley, 2023 NY Slip Op. 30614(U), holding that an assignment of claims for the purpose of suing on them to recover damages was not champertous . . . Continue reading Assignment of Claims for Purpose of Suing on Them to Recover Damages Not Champertous

Certificateholder Cannot Sue a Third-Party Without Complying with the No-Action Clause, Even When the Trustee Consents

Certificateholder Cannot Sue a Third-Party Without Complying with the No-Action Clause, Even When the Trustee Consents

On March 2, 2023, the First Department issued a decision in Freedom Trust 2011-2 v. DB Structured Prods., Inc., 2023 NY Slip Op. 01136, holding that a certificateholder cannot sue a third-party without complying with the no-action clause, even when the trustee consents . . Continue reading Certificateholder Cannot Sue a Third-Party Without Complying with the No-Action Clause, Even When the Trustee Consents