Commercial Case Notes analyzes legal topics of interest in recent decisions from or relating to New York’s Commercial Division
On April 2, 2024, the First Department issued a decision in Talos Capital Designated Activity Co. v. 257 Church Holdings LLC, 2024 NY Slip Op. 01786, holding that a court’s disagreements with counsel’s litigation positions is an insufficient basis for imposing sanctions . . . Continue reading That Court Disagrees With Counsel’s Legal Positions Insufficient Basis for Imposing Sanctions
On April 2, 2024, the First Department issued a decision in FPG Maiden Lane, LLC v. Bank Leumi USA, 2024 NY Slip Op. 01777, holding that a release can cover unknown claims . . . Continue reading Release Can Cover Unknown Claims
On April 4, 2024, the First Department issued a decision in 1650 Broadway Assoc., Inc. v Sturm, 2024 NY Slip Op. 01864, holding that an accounting malpractice claim based on a failure to discover a client’s fraud was not defeated by the fact that the accountant was not engaged to perform an audit . . . Continue reading Accounting Malpractice Claim Based on Failure to Discover Client’s Not Defeated by Fact that Accountant Was Not Engaged to Perform an Audit
On April 4, 2024, the First Department issued a decision in Kenney v. Essex Mgt. Co., 2024 NY Slip Op. 01871, holding that the parties to a lawsuit waived further discovery by failing to complete discovery by the Note of Issue date . . . Continue reading Parties Waived Further Discovery By Failing to Complete Discovery by Note of Issue Date
On April 4, 2024, the First Department issued a decision in Georgetown Co., LLC v. IAC/Interactive Corp., 2024 NY Slip Op. 01870, holding that when there is a dispute over the existence of a contract, a plaintiff may please both contract and quasi-contract claims . . . Continue reading When There is a Dispute Over the Existence of a Contract, a Plaintiff May Plead Both Contract and Quasi-Contract Claims
On April 4, 2024, the First Department issued a decision in Camelot Event Driven Fund v. Morgan Stanley & Co., LLC, 2024 NY Slip Op. 01866, holding that a Securities Act claim can be based on truthful but misleadingly incomplete disclosures . . . Continue reading Securities Act Claim Can be Based on Truthful but Misleadingly Incomplete Disclosures
On March 11, 2024, Justice Chan of the New York County Commercial Division issued a decision in Newage Garden Grove, LLC v Wells Fargo Bank, N.A., 2024 NY Slip Op. 30855(U), upholding a claim for the breach of the covenant of good faith and fair dealing based on an alleged refusal to engage in settlement negotiations . . . . Continue reading Court Upholds Covenant of Good Faith and Fair Dealing Claim Based on Alleged Refusal to Engage in Settlement Negotiations
On March 5, 2024, Justice Ruchelsman of the Kings County Commercial Division issued a decision in NY Cardio Care PLLC v. Salman, 2024 NY Slip Op. 30850(U), holding that claims based on an alleged oral partnership agreement were barred by a no written modifications clause in an employment agreement . . . Continue reading Claims Based on Alleged Oral Partnership Agreement Barred by No Written Modifications Clause of Employment Agreement
Here is a page from the New York State Unified Court System’s 2023 Annual Report describing the Commercial Division and discussing the recent activities of New York’s Commercial Division Advisory Continue reading Update on the Commercial Division and the Commercial Division Advisory Counsel
On March 20, 2024, the Second Department issued a decision in Riesenburger Props., LLLP v. Pi Assoc., LLC, 2024 NY Slip Op. 01570, holding that a defendant had failed to meet the high burden necessary to vacate a stipulation of settlement . . . Continue reading Defendant Fails to Meet High Burden to Vacate Stipulation of Settlement
