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 »
Blogs
Monthly Archives: October 2019
Non-New York Statutes do not Invalidate Contracts that Chose New York Law
On October 24, 2019, the First Department issued a decision in ABB, Inc. v. Havtech, LLC, 2019 NY Slip Op. 07693, holding that a non-New York statute cannot be used to invalidate a contract that chooses New York law, explaining: As a preliminary matter, the parties’ agreement falls within the ambit of General Obligations Law... Read more »
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 »
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 »
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 »
Lack of Particularity Dooms Fraudulent Conveyance Claim
On October 8, 2019, Justice Borrok of the New York County Commercial Division issued a decision in Getintent USA, Inc. v. Sileo, LLC, 2019 NY Slip Op. 33014(U), dismissing a fraudulent conveyance claim for failure to plead the facts relating to the claim with particularity, explaining: Finally, to state a cause of action for fraudulent... Read more »
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 »
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 »
Corporate Waste Claim Defeated by Business Judgment Rule
On October 9, 2019, the Second Department issued a decision in Witty v. Wallace, 2019 NY Slip Op. 07316, holding that a corporate waste claim was defeated by the business judgment rule, explaining: The plaintiff and the defendant Judith Wallace are each 50% owners of 1650 Fifth Avenue Corp., Inc (hereinafter the corporation), which owns... Read more »
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 »