Fraud Claim Time-Barred Because of Plaintiff’s Failure to Sue Within Two Years of Being on Inquiry Notice of Possible Fraud
Commercial Case Notes / Statute of Limitation/Laches

Fraud Claim Time-Barred Because of Plaintiff’s Failure to Sue Within Two Years of Being on Inquiry Notice of Possible Fraud

On June 2, 2024, Justice Masley of the New York County Commercial Division issued a decision in Grosso v. Cy Twombly Found., 2024 NY Slip Op. 31905(U), holding that a fraud claim was untimely because of the plaintiff’s failure to sue within two years of being on inquiry notice of the possible fraud . . . Continue reading Fraud Claim Time-Barred Because of Plaintiff’s Failure to Sue Within Two Years of Being on Inquiry Notice of Possible Fraud

Claim Related to Stolen Artwork Barred by Laches Even Though Timely Under Statute of Limitations
Commercial Case Notes / Statute of Limitation/Laches

Claim Related to Stolen Artwork Barred by Laches Even Though Timely Under Statute of Limitations

On June 6, 2024, Justice Borrok of the New York County Commercial Division issued a decision in Bennigson v. Solomon R. Guggenheim Found., 2024 NY Slip Op. 24164, holding that claims relating to stolen artwork were barred by laches even though they were not barred by the statute of limitations under the federal Holocaust Expropriated Art Recovery Act . . . Continue reading Claim Related to Stolen Artwork Barred by Laches Even Though Timely Under Statute of Limitations

Court Issues Preliminary Injunction Ordering Parties to Close Purchase Transaction
Commercial Case Notes / Injunctions, Attachments and Other Preliminary Remedies

Court Issues Preliminary Injunction Ordering Parties to Close Purchase Transaction

On April 6, 2024, Justice Masley of the New York County Commercial Division issued a decision in James Riv. Group Holdings, Ltd. v. Fleming Intermediate Holdings LLC, 2024 NY Slip Op. 24162, issuing a preliminary injunction ordering parties to close a purchase transaction . . . Continue reading Court Issues Preliminary Injunction Ordering Parties to Close Purchase Transaction

Affirmation Inadmissible Because It Failed to Use Language Required by CPLR 2106
Commercial Case Notes / Court Rules and Procedures

Affirmation Inadmissible Because It Failed to Use Language Required by CPLR 2106

On June 6, 2024, the First Department issued a decision in Great Lakes Ins. SE v. American S.S. Owners Mut. Protection & Indem. Assn. Inc., 2024 NY Slip Op. 03083, holding that an affirmation was inadmissible because it failed to use the language required by CPLR 2106 . . . Continue reading Affirmation Inadmissible Because It Failed to Use Language Required by CPLR 2106