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 »
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Commercial Division Blog
Posts Categorized: Commercial
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 »
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 »
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 »
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 »
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 »
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 »
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 »
Conflict Claims Insufficient for Derivative Claim to Survive
On December 23, 2020, Justice Borrok of the New York County Commercial Division issued a decision in Bezio v. General Elec. Co., 2020 NY Slip Op. 34299(U), holding that conflict of interest claims against a trustee were insufficient to withstand a motion to dismiss, explaining: The full facts of this matter are set forth in... Read more »
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 »