- Posted: January 26, 2022 / Commercial Division Blog
Executors of Late Father’s Estate Have Standing to Sue Non-Profit and Its Directors
On November 26, 2021, in Epstein v Epstein Teicher Philanthropies, 2021 NY Slip Op 32460(U), Justice Masley held that co-successor executors of an estate that bequeathed money to a charitable organization had standing to sue the nonprofit and its directors for failure to obey the charity’s purpose by donating money to Ohio rather than NY based institutions. The Court explained: Read More
- Posted: January 24, 2022 / Commercial Division Blog
Claim Dismissed Against Husband Even Though He Benefited From Allegedly Misappropriated Funds
On December 2, 2021, in Lanaras v Premium Ocean, LLC, 2021 NY Slip Op 51128(U), Justice Reed dismissed claims of fraudulent conveyance under NY DCL § 273, unjust enrichment and constructive trust against the husband of a businesswoman who allegedly misappropriated money received to start a business venture. The complaint identified the husband as a beneficiary of the allegedly fraudulent conveyances by virtue of his and his wife’s joint property holdings and joint bank accounts. Dismissing the complaint against the husband, the Court explained: Read More
- Posted: January 19, 2022 / Commercial Division Blog
Fraud Claim Barred Where Contract Expressly Disclaimed Reliance on Alleged Misrepresentation
On November 4, 2021, Justice Emerson of the Suffolk County Commercial Division issued a decision in Arco Acquisitions, LLC v Tiffany Plaza LLC, 2021 NY Slip Op 51039(U), holding that a fraud claim is barred where a contract made between sophisticated parties expressly disclaimed reliance on the alleged false representation. Read More
- Posted: January 14, 2022 / Commercial Division Blog
First Department Affirms Granting of Motion to Dismiss
In a Decision dated December 7, 2021 Fenway Polar Representative, LLC v. Americold Realty Trust, 2021 N.Y. Slip. Op. 06797, the First Department affirmed an Order of Justice Jennifer Schecter dismissing a complaint concerning alleged interference with the sale of a privately held company. Read More
- Posted: January 12, 2022 / Commercial Division Blog
Court Further Explains Denial of Motion to Approve Settlement in Derivative Lawsuit
On December 31, 2021, in Matter of Renren Inc. Derivative Litig. v. XXX, Index No. 653594/2018, 2021 NY Slip Op 51281[U], Justice Andrew S. Borrok issued an additional supplemental order explaining the Court’s denial of a motion to approve a settlement in a derivative lawsuit and granting leave to defendants to move to dismiss certain plaintiffs. Read More
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