Monthly Archives: October 2019

Posted: October 31, 2019

Tortious Interference Claim Dismissed Based on Economic Justification Defense

On October 22, 2019, Justice Sherwood of the New York County Commercial Division issued a decision in Ambase Corp. v ACREFI Mtge. Lending, LLC, 2019 NY Slip Op. 33148(U), dismissing a tortious interference claim based on an economic justification defense, explaining: To prove a claim for tortious interference with contract, the plaintiff must show: (1)... Read more »

Posted: October 29, 2019

Court Rejects Claim for Aiding and Abetting Fraudulent Conveyance

On October 17, 2019, Justice Schecter of the New York County Commercial Division issued a decision in Stillwater Liquidating LLC v. CL Recovery Trading Fund III, L.P., 2019 NY Slip Op. 33108(U), rejecting a claim for aiding and abetting a fraudulent conveyance, explaining: DCL claims are only properly asserted against the transferor and transferee. Based... Read more »

Posted: October 28, 2019

Transcripts and Videos of Arguments in the Court of Appeals for October 2019 Now Available

On October 17, 2019, we noted a case of interest from the oral arguments before the Court of Appeals in October 2019: Deutsche Bank v Barclays Bank; Deutsche Bank v HSBC Bank USA APL-2018-00169 (Argued on Thursday, October 17, 2019) (Limitation of Actions—What Statute Governs–Whether plaintiff trustee’s breach of contract claims were barred by California’s... Read more »

Posted: October 28, 2019

Court Dismisses Claim for Lost Profits Damages

On October 9, 2019, Justice Sherwood of the New York County Commercial Division issued a decision in Electron Trading LLC v. Perkins Coie LLP, 2019 NY Slip Op. 33019(U), dismissing a claim for lost profits damages, explaining: The law in New York is well settled that in order to obtain lost profits for breach of... Read more »

Posted: October 26, 2019

Court of Appeals Accepts Certified Questions Regarding Cross-Jurisdictional Class Action Tolling

On August 29, 2019, the Court of Appeals accepted two certified questions from the Second Circuit in Tobias Bermudez Chavez v. Occidental Chem. Corp., etc., 2019 NY Slip Op. 78361: (1) whether New York law recognizes ʺcross‐jurisdictional class action tolling,ʺ i.e., tolling of a New York statute of limitations by the pendency of a class... Read more »

Posted: October 25, 2019

Requiring Employees to View and Acknowledge Seeing Presentation on Mandatory Arbitration Does Not Create Binding Agreement to Arbitrate

On January 16, 2019, the Appellate Division of the Superior Court issued a decision in Skuse v, Pfizer, Inc., Docket No. A-3027-17T4, holding that requiring an employee to view and acknowledge seeing a presentation on mandatory arbitration was insufficient to create a binding agreement to arbitrate, explaining: We begin our forum analysis by recognizing the... Read more »

Posted: October 24, 2019

Loans Not Identified in Timely RMBS Putback Notice Still Subject to Putback Based on Later Notices, Which Related Back to First Notice

On October 10, 2019, the First Department issued a decision in U.S. Bank N.A. v. DLJ Mtge. Capital, Inc., 2019 NY Slip Op. 07327, holding that loans not identified in a timely RMBS put-back notice were still subject to put-back based on later notices, which related back to the initial, timely notice, explaining: The written... Read more »