On December 10, 2024, Justice Bannon of the New York County Commercial Division issued a decision in TPCAF I, LLC v. Aboutaam, 2024 NY Slip Op. 34420(U), holding that a lender is not required to foreclose on collateral rather than sue for the amount due on the loan . . . Continue reading Lender is Not Required to Foreclose on Collateral Rather Than Sue for Amount Due on Loan
On December 17, 2024, the First Department issued a decision in Telefonica S.A. v. Millicom Intl. Cellular S.A., 2024 NY Slip Op. 06318, holding that statutory interest must be based on the damages actually awarded . . . Continue reading Statutory Interest Must Be Based on Damages Actually Awarded
On December 3, 2024, the First Department issued a decision in 2M Hospitality Group, LLC v. Sahara Plaza, LLC, 2024 NY Slip Op. 06003, holding that a contract provision barring money damages was enforceable in the absence of intentional misconduct . . . Continue reading Contract Provision Barring Money Damages Enforceable in the Absence of Intentional Misconduct
On October 29, 2024, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Roytman v. Gluzman, 2024 NY Slip Op. 33870(U), declining to dismiss a breach of contract claim even though no damages were alleged . . . Continue reading Court Declines to Dismiss Contract Claim Even Though No Damages Were Alleged
On October 31, 2024, the First Department issued a decision in OH 126th St. Hous. Dev. Fund Corp. v. Berkley Ins. Co., 2024 NY Slip Op. 05410, holding that a consequential damages waiver in a contract did not extend to a related surety bond . . . Continue reading Consequential Damages Waiver in Contract Does Not Apply to Related Surety Bond
On October 24, 2024, the First Department issued a decision in Spicer v. Garda World Consulting (UK) Ltd., 2024 NY Slip Op. 05298, holding that delay in bringing a claim did not waive entitlement to statutory interest . . . Continue reading Delay in Bringing Claim Did Not Waive Entitlement to Statutory Interest
On September 19, 2024, Justice Borrok of the New York County Commercial Division issued a decision in Telefonica S.A. v. Millicom Intl. Cellular S.A., 2024 NY Slip Op. 33315(U), holding that prejudgment interest was calculated on the damages caused on the date of breach even if there was a later mitigation of damages . . . Continue reading Prejudgment Interest Calculated on Damages Caused by Breach Even if There Was a Later Mitigation of Damages
On August 12, 2024, Justice Bannon of the New York County Commercial Division issued a decision in Denver Wewatta (Co) LLC v. Amtrust Title Ins. Co., 2024 NY Slip Op. 32847(U), holding that damages from fraud can include losses from foregone opportunities . . . Continue reading Fraud Damages Can Include Lost Opportunities
On May 28, 2024, the First Department issued a decision in Hall v. Middleton, 2024 NY Slip Op. 02889, holding that punitive damages can be awarded even if there is no compensatory damages award . . . Continue reading Punitive Damages Awardable Even When No Compensatory Damages Awarded
On April 25, 2024, the First Department issued a decision in BML Props. Ltd. v. China Constr. Am., Inc., 2024 NY Slip Op. 02252, holding that a plaintiff was not entitled to lost profits damages because the parties did not contemplate them in making their agreement . . . Continue reading Plaintiff not Entitled to Lost Profit Damages Because the Parties Did Not Contemplate Them in Making Their Agreement
