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
On June 16, 2022, the First Department issued a decision in VII MP Miami Hotel Owner, LLC v. Hycroft, LLC, 2022 NY Slip Op. 03983, holding that a liquidated damages clause was not an unenforceable penalty . . . Continue reading Liquidated Damages Clause Not an Unenforceable Penalty
On March 2, 2022, Justice Masley of the New York County Commercial Division issued a decision in BNP Paribas, Singapore Branch v. Natixis, N.Y. Branch, 2022 NY Slip Op 30679(U), awarding pre-judgment interest at the contract rate, not the statutory rate . . . Continue reading Court Awards Pre-Judgment Interest at Contract Rate, not Statutory Rate
On February 3, 2022, Justice Schecter of the New York County Commercial Division issued a decision in Atlantis Mgt. Group II LLC v. Nabe, 2022 NY Slip Op. 30399(U), refusing to enforce a contractual penalty for non-performance . . . Continue reading Court Rejects Contractual Penalty for Non-Performance
On December 15, 2021, the Second Department issued a decision in Onekey, LLC v. Byron Place Assoc., LLC, 2021 NY Slip Op. 07007, holding that lost profits damages were awardable on a breach of contract claim when those profits were within the contemplation of the parties at the time the contract was entered into . . . Continue reading Lost Profits Damages Awardable When They Were Within the Parties’ Contemplation When the Contract Was Entered Into
