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Daily Archives: Sunday, May 9, 2021

Posted: May 9, 2021

Common Law Indemnification Claim Fails When the Putative Indemnitee Settles its Claims

On April 19, 2021, Justice Borrok of the New York County Commercial Division issued a decision in Board of Mgrs. of 141 Fifth Ave. Condominium v. 141 Acquisition Assoc. LLC, 2021 NY Slip Op. 50343(U), holding that a common law indemnification claim failed because the putative indemnitee had settled its claim, explaining: The Board/Sponsor’s common... Read more »