On July 27, 2023, Justice Crane of the New York County Commercial Division issued a decision in GLD Legacy Holdings, LLC v. Legacy Educ. Alliance, Inc., 2023 NY Slip Op. 32601(U), holding that a party cannot assert a standing defense in an action to collect on a note when it agreed to waive all defenses . . . Continue reading Party Cannot Assert Standing Defense on Note When it Agreed to Waive All Defenses
On July 31, 2023, Justice Reed of the New York County Commercial Division issued a decision in Clingerman v. Ali, 2023 NY Slip Op. 23237, holding that a dissolved corporation can still be sued and defend itself . . . Continue reading Dissolved Corporation Can Still be Sued and Defend Itself
On July 28, 2023, the Fourth Department issued a decision in Greco v. Syracuse ASC, LLC, 2023 NY Slip Op. 03987, holding that a plaintiff asserting claims arising from a data breach lacked standing because of the lack of allegations of damage resulting from the breach . . . Continue reading Claim Arising Data Breach Dismissed for Lack of Allegations of Actual Injury Resulting from the Breach
On May 25, 2023, the First Department issued a decision in SureFire Dividend Capture, LP v. Industrial & Commercial Bank of China Fin. Servs. LLC, 2023 NY Slip Op. 02841, holding that a fraud claim relating to a contract or note can be assigned, but that the agreement transferring the claim must show an intent to transfer the claim . . . Continue reading Fraud Claim Relating to a Contract or Note May be Assigned, But Assignment Agreement Must Show Intent to Transfer
On March 30, 2023, the First Department issued a decision in MLRN LLC v. U.S. Bank, N.A., 2023 NY Slip Op. 01748, deciding several issues relating to investor claims against RMBS trustees. Continue reading First Department Issues New Decision Relating to Claims Against RMBS Trustees
On February 1, 2023, the Second Department issued a decision in US Bank N.A. v. Okoye-Oyibo, 2023 NY Slip Op. 00457, denying summary judgment of foreclosure because of the failure to prove possession of the note and properly-affixed allonges . . . Continue reading Plaintiff Denied Summary Judgment on Foreclosure Claim Due to Failure to Show Possession of Note and Properly-Affixed Allonge’s
On February 2, 2023, the First Department issued a decision in Bldg 44 Devs. LLC v. Pace Cos. N.Y., LLC, 2023 NY Slip Op. 00483, holding that a company that used an unregistered business name had standing to bring claims . . . Continue reading Company That Used Unregistered Business Name Had Standing to Bring Claims
On July 19, 2022, Justice Ruchelsman of the Kings County Commercial Division issued a decision in Aki Renovations Group, Inc. v. 38 PPSW, LLC, 2022 NY Slip Op. 32412(U), holding that a property owner lacked standing to assert a claim for diversion of Lein Law trust funds . . . Continue reading Property Owner Lacks Standing to Assert Claim for Diversion of Lein Law Trust Funds
On July 4, 2022, Justice Masley of the New York County Commercial Division issued a decision in Rappoport v. Nye, 2022 NY Slip Op. 32091(U), holding that an estate beneficiary lacked standing to sue for conversion of property that took place before the testator died . . . Continue reading Beneficiary Lacks Standing to Sue for Conversion of Property That Took Place Before Testator Died
On July 2, 2022, Justice Masley of the New York County Commercial Division issued a decision in Freedom Trust 2011-2 v. DB Structured Prods., Inc., 2022 NY Slip Op. 32096(U), dismissing a put-back brought by a certificateholder of an RMBS trust, with the trustee’s permission, against the trust’s sponsor because (1) the certificateholder lacked capacity under the trust’s no-action clause and (2) the claims were in any event time-barred. Continue reading RMBS Certificateholder Lacked Capacity to Sue Sponsor
