Commercial Division Blog

Current Developments in the Commercial Divisions of the
New York State Courts by Schlam Stone & Dolan LLP
Posted: June 1, 2015

Arguments of Interest In the Court of Appeals for the Week of June 1, 2015

Arguments in the Court of Appeals for the week of June 1, 2015 that may be of interest to commercial litigators:

  • No. 104: Commonwealth of Pa. Public School Emps.’ Ret. Sys. v. Morgan Stanley & Co., Inc. (to be argued June 1, 2015) (addressing certified questions from the Second Circuit concerning: (1) the standard for determining whether the transfer of a note includes a transfer of the transferor’s right to sue for fraud; (2) whether a defendant can be liable for fraud based on a misrepresentation of a third party where the defendant knew about (and perhaps took steps to procure) the third party’s statement). See the Second Circuit’s decision here, and our previous blog post on the case here.
  • No. 105: Amalgamated Bank v. Helmsley Spear, Inc. (to be argued June 1, 2015) (considering “whether defendants sued as recipients of a fraudulent transfer may move to vacate a default judgment entered in a separate action against the allegedly fraudulent transferor, without showing that the default judgment was obtained through fraud or other wrongdoing”). See the First Department Decision here.
  • No. 112: JF Capital Advisors, LLC v. The Lightstone Group, LLC (to be argued June 3, 2015) (considering the scope of the statute of fraud with respect to contracts for “negotiating the purchase, sale, exchange, renting or leasing of any real estate or . . . business opportunity,” Gen. Oblig. Law § 5-701(a)(10)). See the First Department decision here, and our previous blog post on the case here.
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