Plaintiff Not Entitled to Consequential Damages Because Such Damages Were not Contemplated by the Parties When the Contract was Made
Commercial Case Notes / Contracts / Damages

Plaintiff Not Entitled to Consequential Damages Because Such Damages Were not Contemplated by the Parties When the Contract was Made

On March 7, 2024, the First Department issued a decision in Citigroup Global Mkts. Inc. v. SCIP Capital Mgt., LLC, 2024 NY Slip Op. 01249, holding that the plaintiff was not entitled to consequential damages because such damages were not contemplated by the parties when the contract was made . . . Continue reading Plaintiff Not Entitled to Consequential Damages Because Such Damages Were not Contemplated by the Parties When the Contract was Made

Court Rejects Claims Based on Corporate Parent Liability for Subsidiary’s Contractual Obligations
Commercial Case Notes / Contracts

Court Rejects Claims Based on Corporate Parent Liability for Subsidiary’s Contractual Obligations

On January 24, 2024, Justice Reed of the New York County Commercial Division issued a decision in Memorial Sloan Kettering Cancer Ctr. v. Bristol Myers Squibb Co., 2024 NY Slip Op. 50074(U), dismissing a claim based on a corporate parent’s liability for a subsidiary’s contractual allegations . . . Continue reading Court Rejects Claims Based on Corporate Parent Liability for Subsidiary’s Contractual Obligations

Party’s Exercise of Discretion Explicitly Granted to it Can Still Breach the Covenant of Good Faith and Fair Dealing
Commercial Case Notes / Contracts

Party’s Exercise of Discretion Explicitly Granted to it Can Still Breach the Covenant of Good Faith and Fair Dealing

On December 22, 2023, Justice Borrok of the New York County Commercial Division issued a decision in Antara Capital Master Fund LP v. Bombardier Inc., 2023 NY Slip Op. 34524(U), holding that a party’s exercise of discretion explicitly granted to it can still breach the covenant of good faith and fair dealing . . . Continue reading Party’s Exercise of Discretion Explicitly Granted to it Can Still Breach the Covenant of Good Faith and Fair Dealing