On November 1, 2022, the First Department issued a decision in 37-10 114th St. ML Funding LLC v. Ai Yun Chen, 2022 NY Slip Op. 06077, holding that prejudgment interest on a claim enforcing a guaranty should have been awarded at the rate set by the guaranty . . . Continue reading Prejudgment Interest on Claim Enforcing Guaranty Should Have Been Rate Set by Guaranty
On October 19, 2022, Justice Cohen of the New York County Commercial Division issued a decision in First Equity Realty v. Harmony Group, II, 2022 NY Slip Op. 33601(U), awarding the defendant its fees related to the proof of damages that that did not exceed the amount of a CPLR 3220 offer, but only for the claim that was resolved at trial . . . Continue reading Defendant Entitled to Fees Related to Proof of Damages Under CPLR 3220, But Only on Claim Resolved at Trial
On August 29, 2022, Justice Odorisi of the Seventh Judicial District Commercial Division issued a decision in Spin Capital v. Texas Med. Ctr. Supply, LLC, 2022 NY Slip Op. 32914(U), declining to award without further justification a victorious plaintiff attorneys’ fees when those fees were based on a contingency fee arrangement . . . Continue reading Court Declines to Base Attorneys’ Fee Award on Plaintiff’s Contingent Fee Arrangement
On August 10, 2022, the Second Department issued a decision in Brasil-Puello v. Weisman, 2022 NY Slip Op. 04893, holding that a defaulting defendant was not entitled to take discovery in connection with a damages inquest . . . Continue reading Defaulting Party Not Entitled to Take Discovery in Connection with Damages Inquest
On July 27, 2022, Justice Crane of the New York County Commercial Division issued a decision in UBS Sec. LLC v. Highland Capital Mgt., L.P., 2022 NY Slip Op. 32573(U), refusing to award punitive damages because the defendant’s conduct was not directed at the public . . . Continue reading Punitive Damages Claim Fails Because Conduct Was Not Directed at the Public
On July 18, 2022, Justice Cohen of the New York County Commercial Division issued a decision in Kolchins v Evolution Mkts. Inc., 2022 NY Slip Op. 32379(U), awarding attorneys’ fees for one claim based on a percentage of the time spent on all claims despite the absence of a lodestar calculation based on the actual number of hours worked on that one claim . . . Continue reading Court Awards Attorneys’ Fees for One Claim Based on a Percentage of Time Spent on all Claims
On July 26, 2022, the First Department issued a decision in Seymour v. Hovnanian, 2022 NY Slip Op. 04705, upholding an award of liquidated damages . . . Continue reading Court Upholds Liquidated Damages Award
On July 6, 2022, Justice Cohen of the New York County Commercial Division issued a decision in Go v. Marto Capital LLC, 2022 NY Slip Op. 32127(U), holding that statutory post-award pre-judgment interest on an arbitral award is available only from the date for payment listed in the award . . . Continue reading Statutory Post-Award Pre-Judgment Interest Available on an Arbitral Award Only From Payment Date Specified in the Award
On June 16, 2022, Justice Borrok of the New York County Commercial Division issued a decision in L’Oreal USA, Inc. v’ Wormser Corp., 2022 NY Slip Op. 31931(U), dismissing a claim for lost profits damages under New Jersey law relating to a new business . . . Continue reading Lost Profits Claim Relating to New Business Dismissed
On June 22, 2022, the Second Department issued a decision in Atalaya Asset Income Fund II, L.P. v. 219 Sagg Main, LLC, 2022 NY Slip Op. 04000, holding that an award of interest in an equitable action is at the court’s discretion . . . Continue reading Award of Interest on Equitable Claim is in the Court’s Discretion
