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Current Developments in the Commercial Divisions of the
New York State Courts
Posted: December 11, 2013

Court of Appeals Agrees to Hear Certified Questions Regarding “No Action” Clauses

On November 12, 2013, we posted that in Quadrant Structured Products, Ltd. v. Vertin, the Delaware Supreme Court had certified questions of New York law regarding “no action” clauses in trust indentures to the New York Court of Appeals. On December 10, 2013, the Court of Appeals accepted the certified questions.

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