Commercial Division Blog: Current Developments in the Commercial Divisions of the New York State Courts

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

On May 31, 2024, Justice Margaret A. Chan of the New York County Commercial Division issued a decision in NAP IV LLC v. Qube USA LLC, Index No. 651937/2024, denying plaintiff's motion for a preliminary injunction preventing defendants from opening a cannabis dispensary in alleged violation of an NDA with plaintiff, which included a non-circumvention clause allegedly preventing defendants from going around plaintiff to open the dispensary at the Times Square location presented by plaintiffs, explaining: Read More

On January 25, 2024, Justice Margaret A. Chan of the New York County Commercial Division, issued a decision in Emigrant Bus. Credit Corp. v. Hanratty, Index No. 158207/2022, granting in part plaintiff’s motion insofar as it sought to hold one of the defendants in civil contempt for violating the court’s prior preliminary injunction order. The Court explained: Read More

On June 12, 2023, Justice Margaret Chan of the New York County Commercial Division issued a decision in White Oak Commercial Finance, LLC v. EIA Inc., 2023 NY Slip Op 31973(U), granting a preliminary injunction restraining a defendant's assets (other than for "reasonable living expenses") and holding that the plaintiff satisfied the irreparable-harm requirement because it was a secured creditor and had a lien on the defendant's assets, explaining: Read More

On June 5, 2023, Justice Margaret A. Chan of the New York County Commercial Division issued a decision in Edgepwr LLC v. Edgepwr Holdings LLC, 2023 NY Slip Op 31893(U), denying a motion for a preliminary injunction in aid of arbitration for lack of irreparable harm, since the petitioner's claims of irreparable harm were based on the "possible problematic retrieval of proceedings," which "goes to monetary relief," explaining: Read More