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

On October 1, 2026, in Discover Property & Casualty Co. v. National Football League, Index No. 652933/12, Case Nos. 2025-03691 and 2025-03200, the Appellate Division, First Department, held that each former player’s claim resolved in the NFL’s concussion settlement constituted at least one separate “occurrence” under the NFL’s liability insurance policies, whose limits applied per occurrence. The NFL’s insurer, TIG, argued that all of the players’ injuries arose from a single occurrence—NFL play—so that only one set of limits applied. New York courts determine the number of occurrences under the “unfortunate event” test, which asks “whether there is a close temporal and spatial relationship between the incidents giving rise to injury or loss, and whether the incidents can be viewed as part of the same causal continuum, without intervening agents or factors.” Applying that test, the Court explained: Read More

On August 28, 2026, in VXI Lux Holdco S.A R.L. v. SIC Holdings, LLC, Index No. 652064/2017, Justice Robert R. Reed of the New York County Commercial Division granted in part defendants’ motions for summary judgment, dismissing the buyer’s fraud claims for failure to raise a triable issue of monetary loss. VXI acquired all of the equity in Symbio S.A., a Luxembourg technology and software engineering company, under a November 2014 share purchase agreement. VXI alleged that the selling shareholders inflated Symbio’s earnings and concealed undisclosed liabilities, including shortfalls in social insurance and housing fund payments owed by Symbio’s Chinese subsidiary, and it sued for fraud and for breach of the agreement’s representations and warranties. On the fraud claims, VXI sought damages measured by diminution in value—the difference between the price it paid and what Symbio was actually worth. But VXI never obtained a contemporaneous appraisal, and its damages expert conceded that he had not performed an independent valuation but had instead built his analysis on VXI’s own EBITDA-multiple approach at the time of purchase. In granting summary judgment dismissing the fraud claims, the Court explained: Read More

On August 28, 2026, in VXI Lux Holdco S.à r.l. v. SIC Holdings, LLC, Index No. 652064/2017, 2026 NY Slip Op 51408(U), Justice Robert R. Reed of the New York County Commercial Division granted defendants summary judgment dismissing plaintiff’s fraud causes of action. Read More

On August 21, 2026, in Anexia, Inc. v. Horizon Data Solutions Ctr., LLC, Index No. 657444/2019, Justice Robert R. Reed granted plaintiff summary judgment dismissing defendant's counterclaim for breach of the implied covenant of good faith and fair dealing. Read More

On April 3, 2026, Justice Joel M. Cohen of the New York County Commercial Division granted summary judgment to the estate of Oscar Stettiner on claims seeking return of Amedeo Modigliani’s painting Seated Man With a Cane, holding that the estate established Stettiner’s superior right to possession and that defendants’ alternative theories concerning the Painting’s provenance were too speculative to create a triable issue of fact. The case is Greason v Nahmad, Index No. 650646/2014. Read More

On August 6, 2026, in Gonzalez v. Marte, Index No. 63818/2026, Justice Gretchen Walsh of the Westchester County Commercial Division denied plaintiff’s motion for summary judgment in lieu of complaint and dismissed the action without prejudice. Plaintiff alleged that defendant had failed to pay the balance due on a $530,000 promissory note given in connection with the sale of plaintiff’s shares in a restaurant corporation. Defendant never appeared or opposed the motion. The Court held that the motion had nonetheless been short-served, and explained: Read More

On August 6, 2026, in Kelly v Munn Works, LLC, Index No. 64177/2026, Justice Gretchen Walsh of the Westchester County Commercial Division granted plaintiff’s motion for summary judgment in lieu of complaint. Read More

On July 15, 2026, in Magnetic Parts Trading Limited v National Air Cargo Group, Inc., Index No. 653266/2020, Justice Robert R. Reed of the New York County Commercial Division denied plaintiff's motion for partial summary judgment on its breach of lease claim, in part because an issue of fact existed under the doctrine of prevention. Read More

On July 2, 2026, in Tromer v. PEAK6 Insurtech Holdings LLC, Index No. 653530/2023, Justice Andrew Borrok of the New York County Commercial Division granted plaintiff’s renewed motion for partial summary judgment, holding that the “Earnout Amount” under the parties’ Unit Purchase Agreement could not be a negative number and that the plaintiff therefore did not owe the defendant any negative earnout. The agreement provided that “in no event shall the Earnout Amount be less than zero dollars,” but the defendant counterclaimed that two components later added to the formula could drive the Earnout Amount below zero, entitling it to a payment from the sellers. In a prior order, the Court had denied summary judgment to both sides and permitted limited discovery of the transaction counsel who drafted the agreement as to the clause's meaning. Read More

On July 2, 2026, in Tromer v. PEAK6 Insurtech Holdings LLC, Index No. 653530/2023, Justice Andrew Borrok granted plaintiff's renewed motion for partial summary judgment dismissing two of defendant's counterclaims. Read More

On May 13, 2026, in Aircastle Ltd. v. Chubb European Group S.E., Index No. 654131/2022, Justice Joel M. Cohen granted defendants' motions for summary judgment. Read More

On April 10, 2026, in I.B.I Volcano Investments LLC v. Apex South Creek IB, LLC, Index No. 655364/2025, Justice Melissa A. Crane of the New York County Commercial Division granted plaintiffs’ motion for summary judgment in lieu of complaint. Read More

On April 23, 2026, in Big City Outdoor, LLC v. JTRE 23 WS LLC, Index No. 530713/2023, Justice Reginald A. Boddie of the Kings County Commercial Division denied plaintiff’s motion for summary judgment and granted defendants’ cross-motion in part, reforming the parties’ 2017 advertising agreement to substitute “Lessor” for “Lessee” in the termination provision. Read More

On March 3, 2026, Justice Melissa A. Crane issued a Decision and Order in 180 Remsen LLC v. St. Francis College, Index No. 653148/2023, denying the summary judgment motion brought by three affiliated defendants (Rockrose). Plaintiff 180 Remsen LLC had entered into a Purchase and Sale Agreement (PSA) with St. Francis College to purchase its Brooklyn Heights campus for $180 million. When 180 Remsen raised a title objection and did not close on the time-of-the-essence closing date, the College terminated the PSA and sold the property to Rockrose. 180 Remsen sued Rockrose for specific performance, tortious interference with the PSA, and breach of a non-disclosure agreement (NDA) Rockrose had signed when solicited by 180 Remsen’s broker as a potential equity investor. Read More

On March 31, 2026, in Guggenheim Securities, LLC v. Falcon’s Beyond Global, LLC, et al., Index No. 651585/2024, Justice Melissa A. Crane granted in part and denied in part dueling motions for summary judgment. The court dismissed the defendant’s counterclaims against its financial advisor for fraud, breach of fiduciary duty, and equitable rescission, but denied both parties’ motions for summary judgment on their breach of contract claims. The Court explained: Read More

On March 24, 2026, in 1411 Bushwick Ave. NDB LLC v. Bracha, Index No. 655425/2025, Justice Joel M. Cohen denied plaintiff’s motion for summary judgment in lieu of complaint as defendants raised issues as to standing. The Court explained: Read More

On January 15, 2026, in Epstein v. Epstein Teicher Philanthropies, Index. No. 654417/2020, Justice Andrea Masley granted plaintiffs’ motion for summary judgment declaring that Vincent McGree is a member of the foundation at issue. The Court explained: Read More

On December 27, 2025, Justice Andrea Masley granted the Sureties’ motion for summary judgment dismissing the counterclaim and third-party claim for breach of a performance bond in Pizzarotti, LLC v. FPG Maiden Lane, LLC, Index No. 651679/2019. The Court explained: Read More

On December 23, 2025, in Truist Equipment Finance Corp. v. Tebele, Index No. 653557/2025, Justice Joel M. Cohen granted plaintiff’s motion for summary judgment in lieu of complaint. Defendant argued that the Guaranty at issue was not an instrument for payment of money only because plaintiff and defendant entered into a forbearance agreement. The Court rejected this argument, explaining: Read More

On November 21, 2025, Justice Andrew Borrok granted a plaintiff lender summary judgment, finding that defendant failed to raise any triable issue concerning its obligations under certain promissory notes. The case is Mendon Ventures Banktech Fund I LP v. Equitus Corporation, Index No. 654629/2024. Read More