Commercial Case Notes analyzes legal topics of interest in recent decisions from or relating to New York’s Commercial Division
On August 30, 2024, Justice Reed of the New York County Commercial Division issued a decision in Seitz v. Marcum LLP, 2024 NY Slip Op. 51141(U), dismissing a claim under the in pari delicto doctrine . . . Continue reading Claim Dismissed Under In Pari Delicto Doctrine
On September 5, 2024, the First Department issued a decision in Ria R Squared, Inc. v. DW Partners, LP, 2024 NY Slip Op. 04363, upholding a claim for the breach of the covenant of good faith and fair dealing based on an SPV’s failure to remain sufficiently capitalized to repay a loan . . . Continue reading Court Upholds Implied Covenant Claim Based on SPV’s Failure to Remain Sufficiently Capitalized to Pay Loan
On August 23, 2024, Justice Borrok of the New York County Commercial Division issued a decision in Altium Growth Fund, L.P. v. Tingo Group, Inc., 2024 NY Slip Op. 32993(U), refusing to allow counsel withdraw from a representation despite unpaid fees because of the disruption it would cause . . . Continue reading Court Refuses to Allow Counsel to Withdraw Despite Unpaid Bills
On August 28, 2024, the Second Department issued a decision in Lewis v. Bartow, 2024 NY Slip Op. 04310, affirming the dismissal of a discovery motion for failure to submit an affidavit establishing the movant’s good faith efforts to resolve the dispute . . . Continue reading Discovery Motion Denied For Failure to Submit Affidavit Establishing Good Faith Efforts to Resolve Dispute
On August 29, 2024, the First Department issued a decision in Perella Weinberg Partners LLC v. Kramer, 2024 NY Slip Op. 04349, upholding a non-solicitation provision . . . Continue reading Non-Solicitation Provision Upheld by First Department
On August 21, 2024, the Second Department issued a decision in Lakeview Loan Servicing, LLC v. Florio, 2024 NY Slip Op. 04256, denying plaintiff in a foreclosure action summary judgment because of insufficient proof that the allonge was attached to the note . . . Continue reading Plaintiff in Foreclosure Action Denied Summary Judgment Because of Insufficient Proof That Allonge was Attached to the Note
On August 27, 2024, Justice Borrok of the New York County Commercial Division issued a decision in Herman v. Judlau Contr., Inc., 2024 NY Slip Op. 33024(U), holding that a motion for reargument cannot be used to advance a new legal argument . . . Continue reading Reargument Cannot Be Used to Advance New Legal Argument
On August 21, 2024, Justice Reed of the New York County Commercial Division issued a decision in Core Group Mktg. LLC v. MIP One Wall St. Acquisition LLC, 2024 NY Slip Op. 51093(U), holding that a prevailing party is entitled to interest on attorneys’ fees from the date on which the party was determined to be the prevailing party . . . Continue reading Prevailing Party Entitled to Interest on Attorneys’ Fees From Date of Success
On August 21, 2024, the Second Department issued a decision in Kanes v. Kanes, 2024 NY Slip Op. 04254, holding that the law of the case doctrine barred reassertion of claims that had previously been found to be time-barred . . . Continue reading Law of the Case Doctrine Barred Reassertion of Claims Previously Found to be Time-Barred
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
