Commercial Division Blog

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

Posts Categorized: Commercial

Posted: May 22, 2019

Being Listed on the NYSE Insufficient to Confer Personal Jurisdiction

On May 15, 2019, Justice Scarpulla of the New York County Commercial Division issued a decision in Poms v. Dominion Diamond Corp., 2019 NY Slip Op. 31364(U), holding that being listed on the New York Stock Exchange is insufficient to create personal jurisdiction in New York, explaining: Under CPLR 302(a)(l), jurisdiction may only be exercised over... Read more »

Posted: May 21, 2019

Court Rejects Economic Duress Claim

On May 6, 2019, Justice Masley of the New York County Commercial Division issued a decision in Kaye v. Levine Prospect, LLC, 2019 NY Slip Op. 31299(U), rejecting a economic duress defense, explaining: A contract is voidable on the ground of duress when it is established that the party making the claim was forced to agree... Read more »

Posted: May 19, 2019

Based on FINRA Rules, Court Declines to Order Class Action Arbitration

On May 15, 2019, the Second Department issued a decision in Rutella v. National Sec. Corp., 2019 NY Slip Op. 03833, reversing an order requiring class arbitration based on FINRA rules, explaining: The plaintiff . . . commenced this putative class action to recover damages for violations of Labor Law articles 6 and 19 on... Read more »

Posted: May 18, 2019

Party Asserting Lack of Service as an Affirmative Defense Must Move for Judgment on that Defense Within 60 Days of Answering

On May 8, 2019, the Second Department issued a decision in U.S. Bank N.A. v. Roque, 2019 NY Slip Op. 03648, holding that a party asserting lack of service as an affirmative defense must move for judgment on that defense within 60 days of answering, explaining: An objection that the summons and complaint was not properly... Read more »

Posted: May 17, 2019

Where Company Lacked a Principal Place of Business in Any One State, its Residence For Purposes of the Borrowing Statute Was Its State of Incorporation

On May 9, 2019, the First Department issued a decision in Interventure 77 Hudson LLC v. Falcon Real Estate Inv. Co., LP, 2019 NY Slip Op. 03670, holding that where a company lacked a principal place of business in any one state, its residence for purposes of the borrowing statute was its state of incorporation, explaining:... Read more »

Posted: May 16, 2019

Court Appoints Receiver to Perform Long-Delayed Winding Up

On April 19, 2019, Justice Borrok of the New York County Commercial Division issued a decision in Tufenkian v. Tirakian, 2019 NY Slip Op. 31052(U), appointing a receiver to perform a long-delayed winding-up, explaining: CPLR 6401(a) also authorizes the appointment of a temporary receiver as a provisional remedy when property that is the subject of litigation... Read more »

Posted: May 15, 2019

Joining Co-Defendants’ Motion to Dismiss Tolled Party’s Time to Answer

On May 2, 2019, the First Department issued a decision in Levine v Singal, 2019 NY Slip Op. 03438, holding that joining a co-defendant’s motion to dismiss tolled a party’s time to answer, explaining: Defendant’s time to answer the complaint was extended by virtue of its serving a notice of motion, together with its co-defendants, seeking... Read more »

Posted: May 14, 2019

Disclaimers Protect Publisher From Liability for Alleged Inaccuracies in Treatise

On May 2, 2019, the First Department issued a decision in Himmelstein, McConnell, Gribben, Donoghue & Joseph, LLP v. Matthew Bender & Co., Inc., 2019 NY Slip Op. 03442, holding that a publisher’s disclaimer protected it from claims based on alleged inaccuracies in a treatise, explaining: The breach of express warranty claim, based on the representations... Read more »