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

Fraudulent Conveyance Claim in Amended Complaint Relates Back to Original Complaint
Commercial Case Notes / Statute of Limitation/Laches

Fraudulent Conveyance Claim in Amended Complaint Relates Back to Original Complaint

On April 1, 2024, Justice Crane of the New York County Commercial Division issued a decision in G & Y Maintenance Corp. v. 540 W. 48th St. Corp., 2024 NY Slip Op. 31087(U), holding that a fraudulent conveyance claim in an amended complaint related back to the original complaint . . . Continue reading Fraudulent Conveyance Claim in Amended Complaint Relates Back to Original Complaint

Claim Not Time-Barred Because Fiduciary’s Continuing Failure to Act Was Continuing Breach
Commercial Case Notes / Statute of Limitation/Laches

Claim Not Time-Barred Because Fiduciary’s Continuing Failure to Act Was Continuing Breach

On February 2, 2024, Justice Borrok of the New York County Commercial Division issued a decision in Soloway v. The CIM Group, 2024 NY Slip Op. 30377(U), holding that a claim was not time-barred because the fiduciary’s continuing failure to act was a continuing breach . . . Continue reading Claim Not Time-Barred Because Fiduciary’s Continuing Failure to Act Was Continuing Breach

Six-Year Statute of Limitations Applies to Breach of Fiduciary Duty Claim Based on Fraud
Commercial Case Notes / Fiduciaries / Statute of Limitation/Laches

Six-Year Statute of Limitations Applies to Breach of Fiduciary Duty Claim Based on Fraud

On February 1, 2024, the First Department issued a decision in Board of Mgrs. of the 443 Greenwich St. Condominium v. SGN 443 Greenwich St. Owner LLC, 2024 NY Slip Op. 00450, holding that the six-year statute of limitations applies to a breach of fiduciary claim based on fraud . . . Continue reading Six-Year Statute of Limitations Applies to Breach of Fiduciary Duty Claim Based on Fraud

New Claims Relate Back Because Original Complaint Described Transactions and Occurrences Upon Which New Causes of Action Were Based
Commercial Case Notes / Statute of Limitation/Laches

New Claims Relate Back Because Original Complaint Described Transactions and Occurrences Upon Which New Causes of Action Were Based

On January 10, 2024, Justice Masley of the New York County Commercial Division issued a decision in Lazar v. Mor, 2024 NY Slip Op. 30128(U), holding that claims in an amended complaint related back to the original complaint because the original complaint described the transactions and occurrences upon which the new causes of action were based . . . Continue reading New Claims Relate Back Because Original Complaint Described Transactions and Occurrences Upon Which New Causes of Action Were Based

Court Erred in Denying More Time to Serve Defendant
Commercial Case Notes / Service of Process / Statute of Limitation/Laches

Court Erred in Denying More Time to Serve Defendant

On January 11, 2024, the First Department issued a decision in 1400 Ardel Constr. & Design Group, Inc. v. VBG 990 AOA, LLC, 2024 NY Slip Op. 00122, holding that the trial court erred in denying a motion for more time to serve, noting, among other things, the expiration of the statute of limitations . . . Continue reading Court Erred in Denying More Time to Serve Defendant