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: November 2, 2019

Court May Not Vacate Arbitral Award Because Arbitrator Erred in Interpreting or Applying the Law

On October 24, 2019, the First Department issued a decision in Matter of Nexia Health Tech., Inc. v. Miratech, Inc., 2019 NY Slip Op. 07701, holding that a court may not vacate an arbitral award because the arbitrator erred in interpreting or applying the law, explaining: At issue is whether the arbitrator manifestly disregarded the... Read more »

Posted: November 1, 2019

Fraudulent Conveyance Claims Dismissed for Insufficient Allegations of Fraud

On October 21, 2019, Justice Borrok of the New York County Commercial Division issued a decision in Lynx Capital Partners of NJ, LLC v. Bardown Capital LLC, 2019 NY Slip Op. 33134(U), dismissing fraudulent conveyance claims for insufficient allegations of fraud, explaining: Under Debtor & Creditor Law § 273, a plaintiff should plead that (1)... Read more »

Posted: October 31, 2019

Tortious Interference Claim Dismissed Based on Economic Justification Defense

On October 22, 2019, Justice Sherwood of the New York County Commercial Division issued a decision in Ambase Corp. v ACREFI Mtge. Lending, LLC, 2019 NY Slip Op. 33148(U), dismissing a tortious interference claim based on an economic justification defense, explaining: To prove a claim for tortious interference with contract, the plaintiff must show: (1)... Read more »

Posted: October 29, 2019

Court Rejects Claim for Aiding and Abetting Fraudulent Conveyance

On October 17, 2019, Justice Schecter of the New York County Commercial Division issued a decision in Stillwater Liquidating LLC v. CL Recovery Trading Fund III, L.P., 2019 NY Slip Op. 33108(U), rejecting a claim for aiding and abetting a fraudulent conveyance, explaining: DCL claims are only properly asserted against the transferor and transferee. Based... Read more »

Posted: October 28, 2019

Transcripts and Videos of Arguments in the Court of Appeals for October 2019 Now Available

On October 17, 2019, we noted a case of interest from the oral arguments before the Court of Appeals in October 2019: Deutsche Bank v Barclays Bank; Deutsche Bank v HSBC Bank USA APL-2018-00169 (Argued on Thursday, October 17, 2019) (Limitation of Actions—What Statute Governs–Whether plaintiff trustee’s breach of contract claims were barred by California’s... Read more »

Posted: October 28, 2019

Court Dismisses Claim for Lost Profits Damages

On October 9, 2019, Justice Sherwood of the New York County Commercial Division issued a decision in Electron Trading LLC v. Perkins Coie LLP, 2019 NY Slip Op. 33019(U), dismissing a claim for lost profits damages, explaining: The law in New York is well settled that in order to obtain lost profits for breach of... Read more »