Guaranty That Guarantees Both Payment and Performance Not Instrument For Payment of Money Only for CPLR 3213 Purposes

Guaranty That Guarantees Both Payment and Performance Not Instrument For Payment of Money Only for CPLR 3213 Purposes

On September 6, 2022, Justice Chan of the New York County Commercial Division issued a decision in Feenix Venture Partners, LLC v. TBS, Inc., 2022 NY Slip Op. 32980(U), holding that a guaranty that guarantees both payment and performance is not an instrument for the payment of money only for CPLR 3213 purposes . . . Continue reading Guaranty That Guarantees Both Payment and Performance Not Instrument For Payment of Money Only for CPLR 3213 Purposes

Communicating with Arbitrator to Challenge Obligation to Arbitrate Did Not Waive Right to Seek a Stay of the Arbitration

Communicating with Arbitrator to Challenge Obligation to Arbitrate Did Not Waive Right to Seek a Stay of the Arbitration

On August 24, 2022, Justice Chan of the New York County Commercial Division issued a decision in Allyance Media Group, Inc. v. Acker Family 2016 Gift Trust, 2022 NY Slip Op. 32888(U), holding that correspondence with JAMS challenging its authority to arbitrate did not constitute a waiver of the right to stay the arbitration . . . Continue reading Communicating with Arbitrator to Challenge Obligation to Arbitrate Did Not Waive Right to Seek a Stay of the Arbitration

Party Has Standing to Move to Quash Third-Party Subpoena When it has a Proprietary Interest in the Records Sought

Party Has Standing to Move to Quash Third-Party Subpoena When it has a Proprietary Interest in the Records Sought

On August 25, 2022, Justice Chan of the New York County Commercial Division issued a decision in Ohi Asset (NY) 93rd St., LLC v. Consigli Constr. Co., Inc., 2022 NY Slip Op. 32908(U), holding that a party has standing to challenge a third-party subpoena when it has a proprietary interest in the records being sought . . . Continue reading Party Has Standing to Move to Quash Third-Party Subpoena When it has a Proprietary Interest in the Records Sought

Fraudulent Inducement Claims Upheld Because They Related to Misrepresentations of Present Fact Made Before a Contract Was Agreed To

Fraudulent Inducement Claims Upheld Because They Related to Misrepresentations of Present Fact Made Before a Contract Was Agreed To

On August 25, 2022, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Vashovsky v. Zablocki, 2022 NY Slip Op. 32925(U), refusing to dismiss fraudulent inducement claims based on misrepresentations of present fact made before a contract was entered into . . . Continue reading Fraudulent Inducement Claims Upheld Because They Related to Misrepresentations of Present Fact Made Before a Contract Was Agreed To

Lack of Insurance is a Curable Default if Tenant Can Bond or Obtain Retroactive Insurance Covering Claim

Lack of Insurance is a Curable Default if Tenant Can Bond or Obtain Retroactive Insurance Covering Claim

On August 25, 2022, Justice Ruchelsman of the Kings County Commercial Division issued a decision in 2875 W. 8th St. Assoc., L.P. v. Bonomo, 2022 NY Slip Op. 32932(U), holding that a lack of sufficient insurance was a curable default for the purposes of a Yellowstone injunction if the tenant could bond a potential claim or procure retroactive insurance coverage . . . Continue reading Lack of Insurance is a Curable Default if Tenant Can Bond or Obtain Retroactive Insurance Covering Claim