Demand Futility Allegation Sufficiently Specific Based on Totality of Allegations

Demand Futility Allegation Sufficiently Specific Based on Totality of Allegations

On August 6, 2024, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Kordonsky v. Brudoley, 2024 NY Slip Op. 32768(U), holding that demand futility allegations in a derivative action were sufficiently specific based on the totality of the allegations . . . Continue reading Demand Futility Allegation Sufficiently Specific Based on Totality of Allegations

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

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

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