Monthly Archives: June 2018

Posted: June 30, 2018

Court Upholds Common Interest Privilege Claim Relating to Documents That Did Not Relate Solely to Contemplation or Prosecution of Litigation

On June 21, 2018, the First Department issued a decision in Elmrock Opportunity Master Fund I, L.P. v. Citicorp North America, Inc., 2018 NY Slip Op. 04665, upholding a common interest privilege claim relating to documents that did not relate solely to the contemplation or prosecution of litigation, explaining it was affirming an order “to... Read more »

Posted: June 29, 2018

FTC Rule Does Not Preempt General Business Law Claims Against Broadband Providers

On June 21, 2018, the First Department issued a decision in People v. Charter Communications, Inc., 2018 NY Slip Op. 04644, holding that a Federal Trade Commission rule did not preempt General Business Law claims, explaining: This civil enforcement action alleges that in the marketing of broadband Internet service defendants have engaged and continue to... Read more »

Posted: June 28, 2018

Breach of Fiduciary Claim Reinstated; it Was Not Duplicative of Contract Claim Because it Sought Separate and Distinct Relief

On June 20, 2018, the Second Department issued a decision in Slocum Realty Corp. v. Schlesinger, 2018 NY Slip Op. 04587, holding that a breach of fiduciary claim was not duplicative of a breach of contract claim because it sought separate and distinct relief, explaining: The Supreme Court also erred in granting those branches of... Read more »

Posted: June 27, 2018

SSA Swindling?

Even in more niche financial instruments, there are a number of cases asserting allegations of secondary market and bid spread manipulation. This is true of the supranational, sub-sovereign, and agency bond market, better known as the “SSA” market. Since late 2016, 13 actions have been consolidated in In re SSA Bonds Antitrust Litigation, No. 1:16-cv-03711-ER... Read more »

Posted: June 27, 2018

Unjust Enrichment Claim Fails For Lack of Relationship Between Plaintiff and Defendant

On June 20, 2018, the Second Department issued a decision in Crescimanni v. Trovato, 2018 NY Slip Op. 04529, holding that an unjust enrichment claim failed because there was no relationship between the plaintiff and the defendant, explaining: To recover for unjust enrichment, a plaintiff must show that (1) the defendant was enriched, (2) at... Read more »

Posted: June 26, 2018

First Department Sanctions Appellant $10,000 for Making Frivolous Argument

On June 21, 2018, the First Department issued a decision in Matter of Del Monaco v. Diamond, 2018 NY Slip Op. 04652, sanctioning an appellant for making a frivolous argument, explaining: Respondent’s argument that despite the court’s order holding him liable and directing him to repay the misappropriated funds, petitioner was responsible for enforcing the... Read more »

Posted: June 25, 2018

Judge Brodie Denies Criminal Defendant’s Motion To Require Government To Apply Forfeited Funds To Reduce Restitution Amount

Posted by Solomon N. Klein, Litigation Partner District Judge Margo K. Brodie rejected a defendant’s request to require the government to apply the amount of forfeited funds as a credit to his restitution obligation. United States v. Pratt, 17-cr-00262 (E.D.N.Y. June 11, 2018) (MKB). The defendant is a former postal employee who pled guilty to... Read more »

Posted: June 25, 2018

Insolvent Party’s Transfer of Property to Insider Not Improper Where Insider is Secured Creditor

On June 19, 2018, Justice Schecter of the New York County Commercial Division issued a decision in Englander Capital Corp. v. Zises, 2018 NY Slip Op. 28185, holding that an insolvent party’s transfer of property to an insider was not a fraudulent conveyance because the insider was a secured party, explaining, New York’s Debtor and... Read more »

Posted: June 24, 2018

Court Refuses to Dissolve LLC, Holding That Members’ Disputes Were Insufficient to Justify Dissolution

On June 11, 2018, Justice Dufficy of the Queens County Commercial Division issued a decision in Matter of Kassab v. Kasab, 2018 NY Slip Op. 50934(U), refusing to dissolve an LLC despite the many disputes between the members, explaining: A court may order the dissolution of a limited liability company whenever it is not reasonably... Read more »