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: March 25, 2019

Once Claim on Principal is Time-Barred, Suit to Recover Post-Maturity Interest on Principal is Time-Barred as Well

On March 21, 2019, the Court of Appeals issued a decision in Ajdler v. Province of Mendoza, 2019 NY Slip Op. 02151, holding that once a claim on a bond’s principal is time-barred, a claim for post-maturity interest on that principal is time-barred as well, explaining: Plaintiff maintains that the logical extension of our holding... Read more »

Posted: March 22, 2019

Judicial Estoppel Bars Defendant From Taking Factual Position Different From That Taken in Earlier Actions or Proceedings

On February 28, 2019, Justice Platkin of the Albany County Commercial Division issued a decision in Whiteman Osterman & Hanna, LLP v. Preserve Assoc., LLC, 2019 NY Slip Op. 29056, holding that judicial estoppel barred a defendant from taking factual position different from that taken in earlier actions or proceedings, explaining: An estoppel rests upon the... Read more »

Posted: March 21, 2019

Contract Claim Dismissed for Lack of Damages

On February 27, 2019, Justice Sherwood of the New York County Commercial Division issued a decision in Neumann v. Sotheby’s Inc., 2019 NY Slip Op. 30508(U), dismissing a breach of contract claim for lack of damages, explaining: To sustain a breach of contract cause of action, plaintiff must show: (1) an agreement; (2) plaintiff’s performance;... Read more »

Posted: March 20, 2019

Court Grants Forum Non Conveniens Motion

On February 28, 2019, Justice Ostrager of the New York County Commercial Division issued a decision in Fernie v. Wincrest Capital Ltd., 2019 NY Slip Op. 30510(U), granting a forum non conveniens dismissal, explaining: Ordinarily, nonresidents are permitted to enter New York courts to litigate their disputes as a matter of comity. However, the common-law doctrine... Read more »

Posted: March 19, 2019

Common Law Indemnification Claims Dismissed For Lack of Vicarious Liability or Fault

On March 1, 2019, Justice Ostrager of the New York County Commercial Division issued a decision in Stone & Broad Inc. v. Nextel of N.Y., Inc., 2019 NY Slip Op. 30527(U), dismissing common-law indemnification claims for lack of vicarious liability or fault, explaining: Nextel argues that the Second Cause of Action must be dismissed because Stone’s... Read more »

Posted: March 17, 2019

Business Valuation Not Protected by Attorney-Client Privilege

On February 28, 2019, the Third Department issued a decision in Galasso v. Cobleskill Stone Prods., Inc., 2019 NY Slip Op. 01483, holding that a business valuation was not protected by the attorney-client privilege, explaining: The attorney-client privilege shields from disclosure any confidential communications between an attorney and his or her client made for the purpose... Read more »

Posted: March 16, 2019

Claim Time-Barred Because it Was Not Assigned to Plaintiff Until After Statute of Limitations Had Run

On February 28, 2019, the First Department issued a decision in Rizack v. Signature Bank, N.A., 2019 NY Slip Op. 01494, holding that a claim was time-barred because it was not assigned to the plaintiff until after the statute of limitations had run, explaining: In September 2007, West End Financial Advisors LLC entered into a... Read more »