- Posted: October 4, 2024 / Commercial Division Blog
Court Grants Order Of Disclosure Against Non-Party Financial Institutions Holding Garnished Accounts
On August 30, 2024, Justice Margaret A. Chan granted plaintiffs’ motion for an order of disclosure against Goldman Sachs, UBS Financial Services, and Santander Bank, requiring them to produce documents relating to a defendant’s transaction history in accounts maintained with those institutions. In Ativos Especiais II, et al., v. Kenneth Steven Pope, Index No. 655972/2023, the plaintiffs sought disclosure concerning certain garnished accounts of the defendant. The Court concluded that the plaintiffs were entitled to that information. It explained: Read More
- Posted: October 2, 2024 / Commercial Division Blog
Motion To Compel Compliance With Post-Judgment Subpoena Duces Tecum Granted Against Former Law Firm Retained By Committee Of Independent Directors
On August 23, 2024, Justice Andrew Borrok granted a judgment creditor’s post-judgment subpoena deuces tecum against the law firm, Steptoe LLP. In Altium Growth Fund, L.P., et al., v. Tingo Group Inc., Index No. 651910/2023, Steptoe LLP was retained by the Committee of Independent Directors of the judgment debtor to investigate claims of fraud by the company and its CEO. Steptoe LLP did not directly represent the judgment debtor, but the firm objected to the production of documents on the grounds of privilege. The Court granted the motion to compel, finding that no privilege attached to the sought-after documents and no opposition had been filed. It explained: Read More
- Posted: September 30, 2024 / Commercial Division Blog
Court Denies “Preliminary Injunction” For Specific Performance Of Purchase Agreement
On August 20, 2024, Justice Margaret A. Chan denied a motion for preliminary injunction seeking specific performance of a purchase agreement brought by two investment funds against several affiliated managers and holding companies. In BR Fund IV Acq Inv, LLC, et al., v. Brightwood Capital Fund III-Institutional, LP, Index No. 651756/2024, the parties entered into an agreement whereby the plaintiffs would purchase an interest in the investment funds’ limited partners by September 14, 2023. The deal never closed because of alleged breaches by the defendants. The plaintiffs then moved for a “preliminary injunction” for specific performance of the agreement, compelling defendants to close the transaction. The Court concluded that the plaintiffs’ motion more-accurately sought a mandatory injunction because it sought the case’s ultimate relief, requiring a higher standard of proof. The Court then denied the motion. It explained: Read More
- Posted: September 27, 2024 / Commercial Division Blog
Motion To Preclude Reports And Testimony of Experts Denied; Limitations On Trial Testimony Recognized
On August 21, 2024, Justice Nancy M. Bannon denied defendants’ motion to preclude the reports and trial testimony of plaintiff’s experts, while imposing certain limitations on the expert’s trial testimony, in a contractual dispute concerning environmental remediation. The case is 2497 Realty Corp. v. Fuertes, Index No. 151947/2014. Read More
- Posted: September 25, 2024 / Commercial Division Blog
Counterclaim Alleging Tortious Interference With Business Relationships Dismissed
On September 4, 2024, Justice Margaret A. Chan dismissed a counterclaim by defendant Brookline, LLC d/b/a Lilogy (Lilogy) for tortious interference with business relations. The case is BT Supplies West, Inc. v. Brookline, LLC, Index No. 651364/2023. Schlam Stone & Dolan LLP represented plaintiff BT Supplies West, Inc. (BT Supplies) in the matter. Read More
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