Commercial Case Notes analyzes legal topics of interest in recent decisions from or relating to New York’s Commercial Division
On March 30, 2023, the First Department issued a decision in MLRN LLC v. U.S. Bank, N.A., 2023 NY Slip Op. 01748, deciding several issues relating to investor claims against RMBS trustees. Continue reading First Department Issues New Decision Relating to Claims Against RMBS Trustees
On Thursday, May 18, 2023, the Court of Appeals will hear argument in IKB International v Wells Fargo (No. 51) APL-2022-165. Continue reading Upcoming Argument of Note in the Court of Appeals
On March 15, 2023, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Matter of Vashovsky v. Zablocki, 2023 NY Slip Op. 30768(U), rejecting a claim for common-law dissolution of an LLC . . . Continue reading Court Rejects Claim for Common-Law Dissolution of an LLC
On March 6, 2023, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Saleh v. Hudson 418 Riv. Rd. LLC, 2023 NY Slip Op. 30767(U), dismissing an action in favor of a prior pending action even though the actions included differing legal theories . . . Continue reading Action Dismissed Due to Prior Pending Action Even Though the Actions Included Differing Legal Theories
On March 15, 2023, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Esposito v. Estate of Casale, 2023 NY Slip Op. 30759(U), dismissing an action for failure to prosecute due to the plaintiff’s inability to justify the lack of activity . . . Continue reading Action Dismissed for Failure to Prosecute
On March 15, 2023, Justice Cohen of the New York County Commercial Division issued a decision in DS 17 W. 24th St. Note Purchaser, LLC v. Hag Guyun Lee, 2023 NY Slip Op. 30771(U), holding that a defendant could not avoid payment of pre-judgment interest . . . Continue reading Defendant Cannot Avoid Payment of Pre-Judgment Interest
On March 17, 2023, Justice Borrok of the New York County Commercial Division issued a decision in Antara Capital Master Fund LP v. Bombardier Inc., 2023 NY Slip Op. 50206(U), holding that a no-action clause barred suit when the plaintiff failed to show that demand under the clause would be futile . . . Continue reading No-Action Clause Bars Suit
On March 23, 2023, the First Department issued a decision in Empery Asset Master, Ltd. v. AIT Therapeutics, Inc., 2023 NY Slip Op. 01585, holding that a plaintiff had met the heavy burden of proving its right to reformation of a contract . . . Continue reading Plaintiff Meets High Burden of Proving Reformation Claim
On March 17, 2023, Justice Gomez of the Bronx County Commercial Division issued a decision in Worbes Corp. v. Sebrow, 2023 NY Slip Op. 50205(U), holding that a plaintiff waived its right to demand arbitration by litigating . . . Continue reading Plaintiff Waived Right to Demand Arbitration by Litigating
On March 17, 2023, the Fourth Department issued a decision in Counsel Fin. II LLC v. Bortnick, 2023 NY Slip Op. 01441, holding that a suit on a guaranty could not be made under CPLR 3213 because extrinsic evidence was needed to show the amount owed . . . Continue reading Suit on Guaranty Could Not be Made Under CPLR 3213 Because Extrinsic Evidence Needed to Show Amount Owed
