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 11, 2014

Lawyer’s “Stalking” of Jurors Leads to Mistrial

On March 5, 2014, Justice Karalunas of the Onondaga County Commercial Division issued a decision in Varano v. FORBA Holdings, LLC, 2014 NY Slip Op. 50312(U), addressing inappropriate counsel contact with jurors. We have excerpted Justice Karalunas’s opinion below. We think the practice tips are plain: In a decision dated November 18, 2013 and order dated... Read more »

Posted: March 10, 2014

Findings In SEC and NYSE Administrative Orders Do Not Trigger Dishonest Act Exclusion Under Professional Liability Policy

On February 28, 2014, Justice Ramos of the New York County Commercial Division issued a decision in J.P. Morgan Securities Inc. v. Vigilant Insurance Co., 2014 NY Slip Op. 50284(U), ruling that administrative orders by the SEC and a New York Stock Exchange hearing panel did not constitute a “judgment or other final adjudication” sufficient to trigger... Read more »

Posted: March 8, 2014

Court Identifies Elements of Claim for Aiding and Abetting Undue Influence

On February 28, 2014, Justice Scarpulla of the New York County Commercial Division issued a decision in Goldberg v. HSBC Securities (USA), Inc., 2014 NY Slip Op. 30481(U), examining the elements of a claim of aiding and abetting undue influence. In Goldberg, the executor of an estate brought claims related to alleged undue influence over... Read more »

Posted: March 7, 2014

Standard for Pre-Award Attachment Under CPLR 7502(c) is that Award Must Otherwise Be “Rendered Ineffectual”

On March 6, 2014, the First Department issued a decision in Matter of Kadish v. First Midwest Securities, Inc., 2014 NY Slip Op. 01517, addressing the standard in deciding motions for CPLR 7502(c) attachments. In Matter of Kadish, the First Department addressed whether, in addition to the grounds stated in CPLR 7502(c)–that without the attachment, the award will... Read more »

Posted: March 5, 2014

Buyer’s Broker Not Third-Party Beneficiary of Real Estate Sales Contract That Refers Only to Commission to Seller’s Broker

On February 20, 2014, Justice Pines of the Suffolk County Commercial Division issued a decision in Saunders Ventures, Inc. v. Morrow, 2014 NY Slip Op. 30455(U), holding that a buyer’s broker was not a third-party beneficiary of a real estate sales contract. In Saunders Ventures, the plaintiffs, who alleged that they procured the buyer of real... Read more »

Posted: March 4, 2014

Unjust Enrichment Claim Viable Even Though Defendant Committed No Wrongful Act Against the Defendant

On February 26, 2014, the Second Department issued a decision in Alan B. Greenfield, M.D., P.C. v. Beach Imaging Holdings, LLC, 2014 NY Slip Op. 01285, reversing the dismissal of an unjust enrichment claim. In Greenfield, the trial court dismissed the plaintiff’s claim for unjust enrichment. The Second Department reversed, ruling that: The essential inquiry... Read more »

Posted: March 3, 2014

Court of Appeals Rules That Issues of Fact Preclude Dismissal On Summary Judgment of Negligence Claim Against Insurance Broker

On February 25, 2014, the Court of Appeals issued a decision in Voss v. Netherlands Insurance Co., 2014 NY Slip Op. 01259, finding that a question of fact on the existence of a “special relationship” between insureds and their insurance broker precluded dismissal of a negligence claim against the broker for failure to advise the insureds to obtain additional business interruption... Read more »

Posted: March 2, 2014

Case Dismissed for Champerty

On February 24, 2014, Justice Kornreich of the New York County Commercial Division issued a decision in Justinian Capital SPC v. WestLB AG, 2014 NY Slip Op. 24046, granting a motion for summary judgment and dismissal on the grounds of champerty. Justinian Capital arose from an investment portfolio that contained mortgage-backed securities that did not meet the... Read more »