On October 4, 2022, the First Department issued a decision in APR Energy Holdings Ltd. v. Deloitte Tax LLP, 2022 NY Slip Op. 05496, enforcing the terms of an engagement letter shortening the time in which to bring a malpractice action . . . Continue reading Court Enforces Engagement Letter Terms Shortening Time in Which to Bring Malpractice Claim
On August 11, 2022, Justice Knipel of the Kings County Commercial Division issued a decision in Sharestates Invs. LLC v. 33 Nevins St LLC, 2022 NY Slip Op. 32777(U), holding that New York’s pandemic executive orders tolled a plaintiff’s time to serve the summons and complaint . . . Continue reading New York Pandemic Executive Orders Tolled Time to Serve
On July 7, 2022, Justice Masley of the New York County Commercial Division issued a decision in 333 E. 91st St. Owners Corp. v 1765 First Ave. Assoc., LLC, 2022 NY Slip Op. 32189(U), analyzing the application of the continuing wrong doctrine . . . Continue reading Court Analyzes Application of Continuing Wrong Doctrine
On July 8, 2022, Justice Borrok of the New York County Commercial Division issued a decision in Apollo Global Mgt., Inc v. Cernich, 2022 NY Slip Op. 32187(U), applying a six-year statute of limitations to a claim for aiding and abetting a breach of fiduciary duty because the aiding and abetting involved fraud . . . Continue reading Court Applies Six Year Statute of Limitations to Claim for Aiding and Abetting Breach of Fiduciary Duty
On July 1, 2022, Justice Crane of the New York County Commercial Division issued a decision in Worldview Entertainment Holdings Inc. v. Woodrow, 2022 NY Slip Op. 32080(U), dismissing third-party claims as time-barred because of the failure to file the third-party summons and complaint . . . Continue reading Third-Party Claims Time-Barred Because of Failure Timely to File the Third-Party Summons and Complaint
On June 21, 2022, Justice Chan of the New York County Commercial Division issued a decision in Deutsche Bank Natl. Trust Co. v. EquiFirst Corp., 2022 NY Slip Op. 31953(U). In this decision, Justice Chan addresses a question left unanswered by the Court of Appeals in Deutsche Bank Natl. Trust Co. v. Barclays Bank PLC, in which it held that the statute of limitations for put-back claims brought by Deutsche Bank National Trust Co. was four years, because that was the statute of limitations for a breach of contract claim in California, where Deutsche Bank National Trust Co. is located. Continue reading Statute of Limitations for a Put-Back Action
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
On June 14, 2022, Justice Borrok of the New York County Commercial Division issued a decision in Apotex Corp. v. Hospira Healthcare India Private Ltd., 2022 NY Slip Op. 31873(U), holding that equitable tolling can be based on fraud, misrepresentations, or deception . . . Continue reading Scheme to Hide Can Serve as Basis for Equitable Tolling
On June 1, 2022, Justice Cohen of the New York County Commercial Division issued a decision in Andes Petroleum Ecuador Ltd. v. Occidental Petroleum Corp., 2022 NY Slip Op. 31751(U), looking to a plaintiff’s place of business, not its place of incorporation, in applying New York’s borrowing statute . . . Continue reading Court Looks to Plaintiff’s Place of Business, not its Place of Incorporation, in Applying New York’s Borrowing Statute
On June 7, 2022, the First Department issued a decision in Baker v. Greentech Capital Advisors, L.P., 2022 NY Slip Op. 03679, holding that a choice of law provision did not govern the statute of limitations . . . Continue reading Choice of Law Provision Did Not Govern Statute of Limitations
