Commercial Case Notes analyzes legal topics of interest in recent decisions from or relating to New York’s Commercial Division
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
On June 5, 2024, the Second Department issued a decision in Louis Monteleone Fibres, Ltd. v. Hudson Baylor Brookhaven, LLC, 2024 NY Slip Op. 03039, discussing the role of scienter in fraudulent conveyance claims . . . Continue reading Second Department Discusses the Role of Scienter in Fraudulent Conveyance Claims
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
On May 16, 2024, Justice Crane of the New York County Commercial Division issued a decision in A Participations Ltd. V. Infinity Q Capital Mgmt. LLC, 2024 NY Slip Op. 31788(U), dismissing a fraud claim against an auditor for failure adequately to allege scienter . . . Continue reading Fraud Claim Against Auditor Dismissed for Failure Adequately to Allege Scienter
On May 23, 2024, Justice Schecter of the New York County Commercial Division issued a decision in Roam Capital, Inc. v. Asia Alternatives Mgt. LLC, 2024 NY Slip Op. 31811(U), holding that a party waived privilege by including family members on communications . . . Continue reading Communications to Family Members Waived Privilege
On May 14, 2024, Justice Bannon of the New York County Commercial Division issued a decision in Spectrum Inc. Gen. Contr. v. Capital One Bank USA, N.A., 2024 NY Slip Op. 31814(U), holding that a bank did not have a fiduciary duty to its customer . . . Continue reading Bank Does Not Have a Fiduciary Duty to its Customer
On May 28, 2024, the First Department issued a decision in Hall v. Middleton, 2024 NY Slip Op. 02889, holding that punitive damages can be awarded even if there is no compensatory damages award . . . Continue reading Punitive Damages Awardable Even When No Compensatory Damages Awarded
On May 28, 2024, the First Department issued a decision in Cimen v. HQ Capital Real Estate L.P., 2024 NY Slip Op. 02888, dismissing fraud claims based on future performance . . . Continue reading Fraud Claims Based on Future Performance Fail
On May 30, 2024, the First Department issued a decision in Pursuit Credit Special Opportunity Fund, L.P. v. Krunchcash, LLC, 2024 NY Slip Op. 02996, holding that the trial court did not err in sanctioning counsel for its improper response to an opponent’s inadvertent production of privileged information . . . Continue reading Court Did Not Err in Sanctioning Counsel for Improper Response to Inadvertent Production of Privileged Material
On May 30, 2024, the First Department issued a decision in Manhattan Chrystie St. Dev. Fund, LLC v. 215 Chrystie Invs. LLC, 2024 NY Slip Op. 02989, holding that corporate officers acting in bad faith and outside the scope of their duties could be held liable for actions taken in corporation’s name . . . Continue reading Corporate Officers Acting in Bad Faith and Outside Scope of Duties Can Be Held Liable for Actions Taken in Corporation’s Name
