Blogs

Monthly Archives: January 2019

Posted: January 21, 2019

Even Though Contract Gave the Defendant Discretion to Calculate Losses on Sale, it Was Required to Exercise That Discretion Reasonably

On January 17, 2019, the First Department issued a decision in Lehman Bros. Intl. (Europe)(in administration) v. AG Fin. Prods., Inc., 2019 NY Slip Op. 00364, holding that even though a contract gave the defendant the discretion to take certain acts, it had to exercise that discretion reasonably, explaining: Despite the discretion afforded to defendant under... Read more »

Posted: January 20, 2019

Appeal of Preliminary Injunction Moot Because Act Sought to be Enjoined Already Occurred

On January 17, 2019, the First Department issued a decision in AmBase Corp. v. Spruce Capital Partners LLC, 2019 NY Slip Op. 00352, holding that the appeal of the denial of a preliminary injunctyion was moot because the act sought to be enjoined already had occurred, explaining: Insofar as plaintiffs seek a preliminary injunction, that remedy... Read more »

Posted: January 19, 2019

Court Grants Extension of Time To Serve Defendant Even Though Plaintiff Did Not Provide Good Cause for Failure Timely to Serve

On November 5, 2018, Justice Livote of the Queens County Commercial Division issued a decision in FCS Group, LLC v. Chica, 2018 NY Slip Op. 33433(U), extending a plaintiff’s time to serve even though the plaintiff did not show good cause for failing timely to serve, explaining: CPLR 32ll(a)(8) provides that a party may move the... Read more »

Posted: January 18, 2019

Delay Not Fatal to Motion to Amend

On November 14, 2018, Justice Grays of the Queens County Commercial Division issued a decision in Energy Conservation Group, LLC v. Applied Underwriters, Inc., 2018 NY Slip Op. 33436(U), granting a motion to amend even though there was a delay in making the motion, explaining: CPLR §3025(b) provides that leave to amend a pleading shall be freely given... Read more »

Posted: January 17, 2019

Court Rejects Defense That Arbitration Agreement Was Signed Under Duress

On January 4, 2019, Justice Scarpulla of the New York County Commercial Division issued a decision in Kahan Jewelry Corp. v. First Class Trading, L.P., 2019 NY Slip Op. 30039(U), rejecting a defense that an arbitration agreement was signed under duress, explaining: It is well settled that repudiation of an agreement on the ground that it... Read more »

Posted: January 16, 2019

Subcontractor Prevails on Lien Law Claim

On January 9, 2019, the Second Department issued a decision in C.C.C. Renovations, Inc. v. Victoria Towers Dev. Corp., 2019 NY Slip Op. 00089, holding that a subcontractor should have prevailed on a Lien Law claim, explaining: Lien Law § 3 provides that a contractor who performs labor or furnishes materials for the improvement of real property... Read more »

Posted: January 14, 2019

HSBC Agrees To Settle SSA Bond Manipulation Suit

Law360 and Reuters are reporting that HSBC Bank PLC and HSBC Securities (USA) Inc. have agreed to pay $30 million to settle antitrust claims arising from allegations that a number of banks conspired to rig the SSA (Sovereigns, Supranationals, and Agencies) bond market between 2005 and 2015. Deutsche Bank and Bank of America previously settled... Read more »

Posted: January 14, 2019

Contract Term Shortening Statute of Limitations Must Be Clear, Unambiguous, Reasonable and Fair

On December 13, 2017, Justice Paris of the Onondaga County Commercial Division issued a decision in Jesiolowski Enters., Inc. v. Data Key Holdings, LLC., 2017 NY Slip Op. 52025(U), holding that a contract term limiting the time in which to assert a claim was unenforceable because it was not clear, unambiguous, reasonable and fair, explaining: Although... Read more »

Posted: January 13, 2019

Defendant Denied Dismissal of Tortious Interference Claim Based on Economic Interest Defense

On January 8, 2019, the First Department issued a decision in Normandy Real Estate Partners LLC v. 24 E. 12th St. Assoc. LLC, 2019 NY Slip Op. 00060, holding that a defendant was not entitled to dismissal of a tortious interference claim based on an economic interest defense, explaining: The complaint states a cause of action for... Read more »