Blogs

Commercial Division Blog

Current Developments in the Commercial Divisions of the
New York State Courts by Schlam Stone & Dolan LLP

Posts Categorized: Commercial

Posted: January 18, 2021

Verified Complaint Has Same Effect as an Affidavit

On December 24, 2020, Justice Sherwood of the New York County Commercial Division issued a decision in Solomon Capital, LLC v. Lion Biotechnologies, Inc., 2020 NY Slip Op. 34359(U), holding that a verified complaint has the same effect as an affidavit, explaining: Here, plaintiffs have successfully argued that leave for reargument must be granted. The... Read more »

Posted: January 17, 2021

Law of the Case Doctrine Applies to Actions Consolidated for Trial

On December 31, 2020, Justice Cohen of the New York County Commercial Division issued a decision in Darabont v. AMC Network Entertainment LLC, 2020 NY Slip Op. 34342(U), holding that the law of the case doctrine applies to actions consolidated for trial, explaining: Defendants’ argument that the law of the case doctrine does not apply... Read more »

Posted: January 16, 2021

Res Judicata Bars Plaintiff From Relitigating Previously-Litigated Claims

On January 5, 2021, the First Department issued a decision in Bauhouse Group I, Inc. v. Kalikow, 2021 NY Slip Op. 00001, holding that res judicata barred a plaintiff from relitigating previously-litigated claims, explaining: The second order is subject to dismissal for many of the same reasons as the first order. Most fundamentally, however, the... Read more »

Posted: January 15, 2021

Plaintiffs not Bound by Forum Selection Clause Because Agreement to Clause Procured by Fraud

On December 30, 2020, Justice Borrok of the New York County Commercial Division issued a decision in Marcal Fin. SA v. Sutton, 2020 NY Slip Op. 51576(U), holding that plaintiffs were not bound by a forum selection clause that was procured by fraud, explaining: The defendants argue based on the Atlas Forum Selection clause, which... Read more »

Posted: January 14, 2021

Plaintiff Permanently Waived Right to Jury Trial By Pleading Both Legal and Equitable Claims

On December 30, 2020, the Second Department issued a decision in Fakiris v. Gusmar Enters., LLC, 2020 NY Slip Op. 08039, holding that a plaintiff waived its right to a jury trial by pleading both legal and equitable claims, explaining: The deliberate joinder of claims for legal and equitable relief arising out of the same... Read more »

Posted: January 13, 2021

Mutual Mistake Claim Fails

On December 22, 2020, Justice Schecter of the New York County Commercial Division issued a decision in D.E. Shaw Composite Holdings, L.L.C. v. Terraform Power, LLC, 2020 NY Slip Op. 34294(U), dismissing a claim for mutual mistake, explaining: The premise underlying the doctrine of mutual mistake is that the agreement as expressed, in some material... Read more »

Posted: January 12, 2021

Court Finds Defendant Bound by Indemnification Provision

On December 23, 2020, Justice Cohen of the New York County Commercial Division issued a decision in Playboy Enters. Intl., Inc. v. Meredith Corp., 2020 NY Slip Op. 34295(U), holding that a defendant was bound by a contractual indemnification provision, explaining: SMS argues that the complaint fails to state a cause of action for contractual... Read more »

Posted: January 11, 2021

Shareholder of Dissolved LLC Has Standing to Bring Derivative Action

On December 9, 2020, Justice Emerson of the Suffolk County Commercial Division issued a decision in Mari v. Quatela, 2020 NY Slip Op. 34274(U), holding that a shareholder in a dissolved limited liability company has standing to bring a derivative action, explaining: The remaining allegations, that the individual defendants diverted firm monies and assets to... Read more »

Posted: January 9, 2021

Motion for Renewal Denied For Failure to Justify Late Submission of Evidence

On December 29, 2020, the First Department issued a decision in Wang v. LaFrieda, 2020 NY Slip Op. 08025, holding that a motion for renewal properly was denied for failure to justify the late submission of evidence, explaining: Plaintiffs also failed to provide a reasonable justification for their failure to submit the Leetsi affidavit in... Read more »