On March 26, 2024, the First Department issued a decision in IKB Intl. S.A. v. Morgan Stanley, 2024 NY Slip Op. 01675, clarifying the limits of champerty claims . . . Continue reading First Department Clarifies Limits of Champerty Claims
On December 28, 2023, Justice Crane of the New York County Commercial Division issued a decision in Cortlandt St. Recovery Corp. v. Hellas Telecommunications II, S.C.A., 2023 NY Slip Op. 34553(U), holding that the assignment of claims regarding defaulted bonds was not champertous . . . Continue reading Assignment of Claims Regarding Defaulted Bonds Not Champertous
On August 28, 2023, Justice Crane of the New York County Commercial Division issued a decision in Fortelus Funds Invs. Trust v. Hellas Telecom. (Luxembourg) II SCA, 2023 NY Slip Op. 32978(U), rejecting a champerty defense where the plaintiffs had purchased defaulted bonds with the intention of suing to collect on them . . . Continue reading Court Rejects Champerty Defense Where Plaintiffs Had Purchased Defaulted Bonds with the Intention of Suing to Collect on Them
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
The SDNY recently dismissed a lawsuit by Phoenix Light against U.S. Bank on champerty grounds. That is, the court found that the assignment of claims to Phoenix Light was illegal Continue reading Champerty Defense Defeats Trustee Action Claims
