Blogs

Posts Categorized: Remedies/Damages

Posted: October 14, 2015

Rescission Unavailable When Status Quo Cannot be Restored

On October 5, 2015, Justice Scarpulla of the New York County Commercial Division issued a decision in Winston Plywood & Veneer LLC v. Dunollie Resources, Inc., 2015 NY Slip Op. 31862(U), denying a preliminary injunction because, among other reasons, the plaintiff was unlikely to obtain the rescission it sought. In Winston Plywood & Veneer, the… Read more »

Posted: August 19, 2015

LLC Membership is Chattel Subject to Replevin

On August 11, 2015, the First Department issued a decision in Herman v. 36 Gramercy Park Realty Associates, LLC, 2015 NY Slip Op. 06479, holding that an LLC membership was a chattel subject to a repliving action, explaining that “[t]he failure to include limited liability membership interests in the General Construction Law § 15 list… Read more »

Posted: February 24, 2014

First Department Rules That Disgorgement May Be Available As An Equitable Remedy For Attorney General Claims Under Martin Act and Executive Law

On February 20, 2014, the First Department issued a decision in People v. Ernst & Young, LLP, 2014 NY Slip Op. 01257, reversing New York County Commercial Division Justice Jeffrey K. Oing’s dismissal of the New York Attorney General’s claims under the Martin Act and New York’s Executive Law for disgorgement of profits earned by… Read more »

Posted: October 7, 2013

A Cautionary Tale on Attorneys’ Fees

Fee shifting provisions requiring one party to a commercial agreement to pay the other side’s attorneys’ fees in the event of litigation over a breach of the agreement have become ubiquitous in New York commercial practice. Suffolk County Commercial Division Justice Thomas F. Whelan’s September 11, 2013, decision in RMP Capital, Corp. v. Victory Jet,… Read more »