On January 4, 2024, the First Department issued a decision in Chan v. Havemeyer Holdings LLC, 2024 NY Slip Op. 00020, illustrating the implications of fiduciary obligations on a fraud claim . . . Continue reading Decision Illustrates Implications of Fiduciary Obligations on Fraud Claim
On May 30, 2023, the First Department issued a decision in ERA Capital L.P. v. Soleil Chartered Bank, 2023 NY Slip Op. 02845, holding that even though the defendant did not have a fiduciary duty to the plaintiff, it had a sufficiently close relationship that it could be held liable for negligence . . . Continue reading Even Though Defendant Did Not Have a Fiduciary Duty to the Plaintiff, it Had a Sufficiently Close Relationship That it Could be Liable for Negligence
On February 15, 2023, Justice Borrok of the New York County Commercial Division issued a decision in Sharp v. Duff & Phelps, LLC, 2023 NY Slip Op. 30481(U). dismissing claims based on the in pari delicto defense . . . Continue reading Claims Barred by In Pari Delicto Defense
On January 10, 2023, Justice Masley of the New York County Commercial Division issued a decision in Q3 Inv. Recovery Veh., LLC v. McEvoy, 2023 NY Slip Op. 30184(U), holding that a bank did not have a duty to protect non-customers from the bank’s customer . . . Continue reading Bank Does Not Have Duty to Protect Non-Customers from the Bank’s Customers
On January 10, 2023, Justice Crane of the New York County Commercial Division issued a decision in ERA Capital L.P. v. Soleil Chartered Bank, 2023 NY Slip Op. 30121(U), holding that a bank did not have a fiduciary duty to its customer . . . Continue reading Bank Did Not Have Fiduciary Duty to Customer
On November 9, 2022, the Second Department issued a decision in Zi Kuo Zhang v. Lau, 2022 NY Slip Op. 06287, holding that a breach of fiduciary duty claim relating to an escrow account was not duplicative of a legal malpractice claim . . . Continue reading Breach of Fiduciary Duty Claim Relating to Escrow Account not Duplicative of Legal Malpractice Claim
On October 13, 2022, the First Department issued a decision in Eccles v. Shamrock Capital Advisors, LLC, 2022 NY Slip Op. 05750, holding that the internal affairs doctrine applies to an officer or director at the time of the conduct at issue . . . Continue reading Internal Affairs Doctrine Applies to Officer/Director at Time of Conduct
On October 4, 2022, Justice Cohen of the New York County Commercial Division issued a decision in Pinto v. Schinitsky, 2022 NY Slip Op. 33360(U), holding that directors who set their own compensation must show that the compensation is fair to the corporation . . . Continue reading Directors Who Set Their Own Compensation Must Show That the Compensation is Fair to the Corporation
On September 21, 2022, the Second Department issued a decision in Neurological Surgery, P.C. v. MLMIC Ins. Co., 2022 NY Slip Op. 05211, holding that except in providing a defense, an insurance company does not owe a fiduciary duty to its insureds . . . Continue reading Except in Providing a Defense, an Insurance Company Does Not Owe a Fiduciary Duty to its Insureds
On March 10, 2022, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Lengyel- Fushimi v Bellis, 2022 NY Slip Op 30809(U), dismissing a breach of fiduciary duty claim as duplicative of a breach of contract claim . . . Continue reading Breach of Fiduciary Duty Claim Dismissed as Duplicative of Breach of Contract Claim
