All Lundin PLLC Blogs

Appellate Division First Department Courthouse

Contractual Liability Limitation Requiring Gross Negligence Requires Intentional Wrongdoing or Reckless Indifference

On June 11, 2024, the First Department issued a decision in Brevet Direct Lending Short Duration Fund, L.P. v. Aprio LLP, 2024 NY Slip Op. 03128, holding that a contract term limiting liability to gross negligence requires intentional wrongdoing or reckless indifference to the rights of others . . . Continue reading Contractual Liability Limitation Requiring Gross Negligence Requires Intentional Wrongdoing or Reckless Indifference

New York County Courthouse (Justices Borrok, Chan, Sohen, Crane, Masley, Ostrager, Reed and Schecter)

Corporate Parent that Negotiated Agreement on Behalf of Subsidiary Can Be Bound by the Agreement

On May 29, 2024, Justice Masley of the New York County Commercial Division issued a decision in Gramercy Funds Mgt. LLC v. Schlumberger N.V., 2024 NY Slip Op. 31855(U), holding that a complaint had sufficiently alleged that a corporate parent that negotiated an agreement on behalf of a subsidiary was bound by the agreement . . . Continue reading Corporate Parent that Negotiated Agreement on Behalf of Subsidiary Can Be Bound by the Agreement

New York County Courthouse (Justices Borrok, Chan, Sohen, Crane, Masley, Ostrager, Reed and Schecter)

Fraud Claim Time-Barred Because of Plaintiff’s Failure to Sue Within Two Years of Being on Inquiry Notice of Possible Fraud

On June 2, 2024, Justice Masley of the New York County Commercial Division issued a decision in Grosso v. Cy Twombly Found., 2024 NY Slip Op. 31905(U), holding that a fraud claim was untimely because of the plaintiff’s failure to sue within two years of being on inquiry notice of the possible fraud . . . Continue reading Fraud Claim Time-Barred Because of Plaintiff’s Failure to Sue Within Two Years of Being on Inquiry Notice of Possible Fraud

New York County Courthouse (Justices Borrok, Chan, Sohen, Crane, Masley, Ostrager, Reed and Schecter)

Claim Related to Stolen Artwork Barred by Laches Even Though Timely Under Statute of Limitations

On June 6, 2024, Justice Borrok of the New York County Commercial Division issued a decision in Bennigson v. Solomon R. Guggenheim Found., 2024 NY Slip Op. 24164, holding that claims relating to stolen artwork were barred by laches even though they were not barred by the statute of limitations under the federal Holocaust Expropriated Art Recovery Act . . . Continue reading Claim Related to Stolen Artwork Barred by Laches Even Though Timely Under Statute of Limitations