- Posted: May 26, 2023 / Commercial Division Blog
Court Dismisses Claims Because Agreement Expired
In an Opinion, dated May 1, 2023, in Richmond Global Compass Fund Mgt., GP, LLC v. Nascimento, 2023 NY Slip Op 31448(U), Justice Andrew Borrok granted in part defendant’s motion to dismiss. The matter concerned, inter alia, claims for breach of an agreement’s non-competition and non-solicitation provisions. The Court explained: Read More
- Posted: May 24, 2023 / Commercial Division Blog
Court Grants Motion To Compel Arbitration
In an Opinion, dated May 2, 2023, in Surgical Specialists of Greater N.Y. v. Aetna, Inc., 2023 NY Slip Op 31479(U), Justice Barry R. Ostrager granted defendants’ motion to compel arbitration. The Court explained: Read More
- Posted: May 22, 2023 / Commercial Division Blog
Court Grants Motion To Dismiss Legal Malpractice Claim
In an Opinion, dated May 2, 2023, in Prospect Capital Corp. v. Morgan Lewis & Bockius LLP, 2023 NY Slip Op 31505(U), Justice Margaret A. Chan granted defendant’s motion to dismiss a complaint for legal malpractice. The case concerned the narrowing of a turnover provision in a subordination agreement during the agreement’s negotiation. Plaintiff alleged that defendant failed to detect and inform it of the revision to the turnover provision, which effectively precluded its remedy against a junior lender. Justice Chan rejected defendant’s argument that it could not be held liable since plaintiff was supposed to read and know the contents of the subordination agreement, which it signed, and had its own General Counsel, noting that: Read More
- Posted: May 19, 2023 / Commercial Division Blog
Motion to Sever Claims Denied Because Discovery Regarding Liability and Damages May Be Related
In an Opinion, dated April 28, 2023, in ASM Capital, LP v. Four Wood Capital Partners LLC, Index No. 657238/2019, Justice Robert R. Reed denied defendants’ motion to sever and bifurcate plaintiffs’ causes of action for purposes of pre-trial discovery and motion practice. Defendants argued that in this action, where plaintiffs allege that defendants deprived them of the benefit of a business opportunity, discovery for liability and discovery for damages require the production of significantly different evidence. Denying their motion, the Court explained: Read More
- Posted: May 17, 2023 / Commercial Division Blog
Court Dismissed Claim to Inspect Books and Records Under BCL § 624 But Not Under Common Law
In a Decision and Opinion on Motion, dated April 12, 2023, in Hafeez v. American Express Co., Index No. 656656/2022, Justice Margaret A. Chan granted defendant’s motion to dismiss plaintiff’s claim for inspection of records that was brought pursuant to BCL § 624 but denied the same motion brought pursuant to common law. Plaintiff, a shareholder of American Express, sought to inspect defendant’s books and records following reports by the Wall Street Journal that American Express was using aggressive and misleading card tactics. The Court explained that, as to the statutory claim: Read More
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