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Posts Categorized: Standing

Posted: May 30, 2017

When Plaintiffs Sold Bonds Their Tort Claims Automatically Transferred to the Purchaser

On May 15, 2017, Justice Bransten of the New York County Commercial Division issued a decision in One William Street Capital Management L.P. v. U.S. Education Loan Trust IV, LLC, 2017 NY Slip Op. 31079(U), holding that the plaintiffs lacked standing because when they their sold bonds, their tort claims automatically were transferred to the… Read more »

Posted: September 22, 2016

Assignee Lacked Standing; Assignment of Right to Pursue Remedies on Notes Did Not Transfer Claims

On September 15, 2016, the First Department issued a decision in Cortlandt St. Recovery Corp. v. Hellas Telecom., S.à.r.l., 2016 NY Slip Op. 06051, holding that a plaintiff lacked standing to assert claims because the assignment of the right to pursue remedies under notes did not constitute the assignment of claims, explaining: The [IAS] court… Read more »

Posted: July 21, 2016

Actions Dismissed on Standing Grounds May be Refiled Pursuant to CPLR 205

On July 7, 2016, the First Department issued a decision in U.S. Bank N.A v. DLJ Mortgage Capital, Inc., 2016 NY Slip Op. 05440, analyzing whether an action dismissed on standing grounds can be refiled pursuant to CPLR 205. The court explained: This action was originally commenced within the statute of limitations period by Federal… Read more »

Posted: May 24, 2016

Party That Failed to Give Contractually-Required Notice Prior to Bringing Suit Lacked Standing

On May 17, 2016, the First Department issued a decision in Nomura Asset Acceptance Corp. Alternative Loan Trust v. Nomura Credit & Capital, Inc., 2016 NY Slip Op 03837, holding that a party that failed to give contractually-required notice prior to bringing suit lacked standing to bring suit, explaining: The summons with notice filed by… Read more »

Posted: December 7, 2015

Plaintiff That Assigned Claims Lacked Standing

On November 24, 2015, the First Department issued a decision in Lehr Associates Consulting Engineers, LLP v. Daikin AC (Americas) Inc., 2015 NY Slip Op. 08626, dismissing claims which the plaintiff had assigned for lack of standing, explaining: Plaintiff has no standing to maintain this suit, because after it assigned its claims against defendants to… Read more »

Posted: August 31, 2015

Lack of Standing is not a Jurisdictional Defect Justifying Sua Sponte Dismissal

On August 26, 2015, the Second Department issued a decision in Mortgage Electronic Registration System, Inc. v. Holmes, 2015 NY Slip Op. 06662, holding that a lack of standing is not a jurisdictional defect. In Mortgage Electronic Registration System, the trial court responded to the plaintiff’s motion to amend the caption to substitute a different… Posted in Commercial, Standing

Posted: August 4, 2015

Securities Seller in Repurchase Agreement Lacks Standing to Assert Claims as Owner

On July 18, 2015, Justice Bransten of the New York County Commercial Division issued a decision in One William St. Capital Management, LP v. Education Loan Trust IV, 2015 NY Slip Op. 31364(U), holding that the seller of securities in a repurchase agreement lacked standing to bring a claim to recover payments due under those… Read more »

Posted: August 3, 2015

RMBS Plaintiff Lacks Standing Due to Failure to Allege Assignment of Tort Claims

On July 14, 2015, Justice Friedman of the New York County Commercial Division issued a decision in HSH Nordbank AG v. Morgan Stanley, 2015 NY Slip Op. 31272(U), analyzing the rules governing the assignment of common law claims. In HSH Nordbank, the plaintiff brought claims relating to the sale of residential mortgage backed securities, including… Read more »

Posted: July 25, 2015

Action Dismissed for Lack of Standing

On June 26, 2015, Justice Bransten of the New York County Commercial Division issued a decision in DJZV Holdings LLC v. Citibank, N.A., 2015 NY Slip Op. 31125(U), dismissing an action for lack of standing. In DJZV Holdings, the plaintiffs brought an action relating to an agreement with the defendant bank regarding an account held… Read more »