Monthly Archives: October 2020

Posted: October 25, 2020

Party Cannot Participate in Arbitration Without Challenging Jurisdiction in Court and Then Seek to Vacate Based on Lack of Jurisdiction

On October 9, 2020, Justice Ostrager of the New York County Commercial Division issued a decision in Fava v. Morgan Stanley Smith Barney, Inc., 2020 NY Slip Op. 33358(U), holding that a party cannot participate in an arbitration without challenging its jurisdiction in court and later seek to vacate an award based on lack of... Read more »

Posted: October 24, 2020

Tortious Interference Claim Fails Without Allegations of Wrongful Means

On October 13, 2020, Justice Borrok of the New York County Commercial Division issued a decision in Slice Bus. Mktg., Inc. v. Kipp, 2020 NY Slip Op. 33361(U), holding that a tortious interference claim failed without allegations of wrongful means, explaining: The elements of interference with contract are the existence of a valid contract, defendant’s... Read more »

Posted: October 23, 2020

LIBOR Class Action: Settlement Update

We write to update you on recent updates regarding settlement in In Re: Libor-Based Financial Instruments Antitrust Litigation, 11-MD-02262 (“In re Libor“), the Multi-District Litigation in the Southern District of New York relating to relating to manipulation of LIBOR or the London Interbank Offered Rate for the U.S. dollar. Before going into the latest updates... Read more »

Posted: October 21, 2020

Provision in Contract Awarding Double Attorneys’ Fees to Prevailing Party is Enforceable

On September 30, 2020, the Second Department issued a decision in Loughlin v. Meghji, 2020 NY Slip Op. 05196, addressing whether a provision in a contract granting a prevailing party in litigation double its attorneys’ fees was valid.  In overturning the trial court’s ruling that such a provision was an unenforceable penalty, the Court confirmed... Read more »

Posted: October 21, 2020

COVID-19 Pandemic No Excuse for Failing to Respond to Motion

On September 30, 2020, Justice Friedman of the New York County Commercial Division issued a decision in Express Trade Capital, Inc. v. Horowitz, 2020 NY Slip Op. 33223(U), holding that the COVID-19 pandemic was not an excuse for failing to respond to a motion, explaining: Defendants also appear to assert that they have an excuse... Read more »

Posted: October 20, 2020

Court Should Not Have Vacated Default Judgment When Loan Servicer’s Excuse Was “Confusion Regarding the Multiple Cases Filed in Multiple Counties”

On October 14, 2020, the Second Department issued a decision in Insiders Success Ventures, LLC v. Onewest Bank, FSB, 2020 NY Slip Op. 05728, holding that the Supreme Court should not have vacated a default judgment when a loan servicer’s excuse was “confusion regarding the multiple cases filed in multiple counties,” explaining: Generally, a defendant... Read more »

Posted: October 19, 2020

Company’s Counterclaims Against Minority Members and Former Executives Dismissed

On October 13, 2020, Justice Vito M. DeStefano of the Commercial Division of the Supreme Court of the State of New York, Nassau County, issued a decision in Stanco and Toomey v. Rallye Motors Holding, LLC, Index No. 612155/2017, dismissing almost all of the counterclaims asserted by the defendant, a holding company for several automobile... Read more »