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Current Developments in the Commercial Divisions of the
New York State Courts
Posted: May 1, 2014

Court of Appeals Arguments of Interest for the Week of May 5, 2014

Arguments the week of May 5, 2014, in the Court of Appeals that may be of interest to commercial litigators.

  • Docket No. 121: Norex Petroleum Limited v. Blavatnik (To be argued Tuesday, May 6, 2014) (addressing whether “CPLR 202, New York’s borrowing statute, which requires a nonresident plaintiff to satisfy the statute of limitations of New York and of the foreign jurisdiction where the claims accrued” trumps 28 USC
    § 1367(d) and CPLR 205(a), which toll the statute of limitations to allow plaintiffs to re-file dismissed federal suits in state court, in situations where the foreign jurisdiction has no analogous tolling statute). See First Department decision here.
  • Docket No. 109: Morpheus Capital Advisors LLC v. UBS AG (To be argued Tuesday, May 6, 2014) (considering the effect of an exclusive agency agreement where the buyer was procured by the seller, not a third-party). See First Department decision here.
  • Docket No. 110: KeySpan Gas East Corporation v. Munich Reinsurance America, Inc. (To be argued Tuesday, May 6, 2014) (considering whether insurers have a common law duty to make a coverage determination as soon as reasonably possible or forfeit their right to deny coverage).
  • Docket No. 112: Quadrant Structured Products Co., Ltd. v. Vertin (To be argued Wednesday, May 7, 2014) (addressing the following question certified from the Delaware Supreme Court: whether, under New York law, the absence of any reference in the no-action clause to the Securities precludes enforcement only of contractual claims arising under the Indenture, or whether the clause also precludes enforcement of all common law and statutory claims that security holders as a group may have).
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