Monthly Archives: January 2017

Posted: January 31, 2017

Court Did Not Abuse Discretion in Precluding Expert on Interpretation of ISDA Agreement

On January 24, 2017, the First Department issued a decision in Good Hill Master Fund L.P. v Deutsche Bank AG, 2017 NY Slip Op. 00428, holding that it was not an abuse of discretion to exclude an expert on contract interpretation, explaining: [T]he trial court properly granted Good Hill’s motion to preclude certain expert testimony... Read more »

Posted: January 30, 2017

Error of Law by Arbitrator Insufficient Basis to Vacate Award

On January 24, 2017, the First Department issued a decision in Matter of Yarmak v. Penson Financial Services Inc., 2017 NY Slip Op. 00433, holding that even if an arbitrator had made errors of law, that was not sufficient grounds to vacate an arbitral award, explaining: Even if the arbitrators’ dismissal of petitioner’s claims prior... Read more »

Posted: January 29, 2017

Plaintiff Fails to State Claim for Reporter’s Failure to Publish Article Based on Plaintiffs’ Exclusive Information

On January 13, 2017, Justice Ramos of the New York County Commercial Division issued a decision in Rondeau v. Berman, 2017 NY Slip Op. 30079(U), holding a plaintiff had failed to state a claim for breach of contract arising from a reporter’s failure to publish an article based on the plaintiff’s exclusive tip. In Rondeau,... Read more »

Posted: January 28, 2017

Pre-Action Discovery Not Available to Revive Already-Dismissed Action

On January 11, 2017, Justice Oing of the New York County Commercial Division issued a decision in Culligan Soft Water Co. v. Clayton Dubilier & Rice, LLC, 2017 NY Slip Op. 30074(U), holding that a litigant could not use pre-action discovery to revive an already-dismissed action, explaining: [P]laintiffs seek an order compelling discovery from the... Read more »

Posted: January 27, 2017

Derivative Action Dismissed; Demand Insufficient and Futility Not Shown (New York Count

On January 17, 2017, Justice Singh of the New York County Commercial Division issued a decision in Sims v. Firstservice Corp., 2017 NY Slip Op. 30104(U), dismissing a derivative action for lack sufficient allegations of demand, explaining: The demand requirement rests on the basic principle of corporate governance that the decisions of a corporation –... Read more »

Posted: January 24, 2017

Inquiry Notice of Fraud Existed When Party Received PPM That Contradicted Oral Promises

On January 19, 2017, First Department issued a decision in Hamrick v. Guralnick, 2017 NY Slip Op. 00400, holding that a party was on inquiry notice of an alleged fraud when it received a private placement memorandum containing statements that contradicted the oral representations upon which it was suing, explaining: The fraudulent inducement, negligent misrepresentation,... Read more »

Posted: January 23, 2017

Court of Appeals Grants Leave to Appeal in Case Involving Valuation of Minority Partner’s Interest

On January 10, 2017, the Court of Appeals granted leave to appeal in Congel v. Malfitano, a case involving the valuation of a minority partner’s interest under Partnership Law § 69(2)(c)(II), which entitles a partner who has wrongfully caused the dissolution of a partnership to be paid the “value” of his interest in the partnership... Read more »