Commercial Case Notes analyzes legal topics of interest in recent decisions from or relating to New York’s Commercial Division
On October 2, 2024, the Second Department issued a decision in Parizat v. Meron, 2024 NY Slip Op. 04776, holding that an oral agreement regarding a party’s ownership interest in a company was not barred by the party’s written employment agreement . . . Continue reading Oral Agreement Regarding Ownership Interest Not Barred by Written Employment Agreement
On October 3, 2024, the First Department issued a decision in Matter of Michalow v. D.E. Shaw & Co., L.P., 2024 NY Slip Op. 04819, holding that a legal error was an insufficient basis for vacating an arbitral award . . . Continue reading Legal Error Insufficient Basis for Vacating Arbitral Award
On October 3, 2024, the First Department issued a decision in Haart v. Scaglia, 2024 NY Slip Op. 04812, holding that a promise made without the intent to perform can support a claim for fraud . . . Continue reading A Promise Made Without Intent to Perform Can Support a Claim for Fraud
On October 1, 2024, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Junik v. 61 N. 11 LLC, 2022 NY Slip Op. 34793(U), holding that a Heter Iska created an enforceable note . . . Continue reading Heter Iska is an Enforceable Note
On September 26, 2024, Justice Chan of the New York County Commercial Division issued a decision in GSP Merrimack LLC v. Javelin Global Commodities (UK) Ltd., 2024 NY Slip Op. 33460(U), holding that a settlement agreement was an executory accord, allowing the plaintiff to assert the settled claims if defendant failed to perform as agreed under the settlement . . . Continue reading Settlement Agreement Was an Executory Accord, Allowing Plaintiff to Assert Settled Claims if Defendant Failed to Perform
On September 27, 2024, Justice Reed of the New York County Commercial Division issued a decision in Subify LLC v. Ace Hat Collection Inc., 2024 NY Slip Op. 51336(U), refusing counsel to withdraw without consent or adequate justification . . . Continue reading Court Declines to Allow Counsel To Withdraw Without Consent or Adequate Justification
On September 27, 2024, Justice Patel of the New York County Commercial Division issued a decision in Aerogen LLC v. Tapjets Holdings Inc., 2024 NY Slip Op. 51341(U), declining to dismiss in favor of an earlier filed action when the later action involved more parties and contracts . . . Continue reading Court Declines to Dismiss in Favor of Earlier Filed Action When Later Action Involved More Parties and Contracts
On September 27, 2024, Justice Borrok of the New York County Commercial Division issued a decision in Camelot Event Driven Fund, a Series of Frank Funds Trust v. Morgan Stanley & Co. LLC, 2024 NY Slip Op. 51352(U), holding that 10b-5 letters were not privileged or work product . . . Continue reading 10b-5 Letters Not Privileged or Work Product
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
In September 19, 2024, Justice Chan of the New York County Commercial Division issued a decision in Prospect Capital Corp. v. Morgan Lewis & Bockius LLP, 2024 NY Slip Op. 33322(U), refusing to recognize a mediation privilege . . . Continue reading Court Refuses to Recognize Mediation Privilege
