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: April 20, 2020

Law of the Case Doctrine Applies to Separate Cases That Have Been Consolidated for Joint Trial

On April 10, 2020, Justice Cohen of the New York County Commercial Division issued a decision in Darabont v. AMC Network Entertainment LLC, 2020 NY Slip Op. 30926(U), holding that the law of the case doctrine applies to cases that have been consolidated for joint trial, explaining: Defendants’ argument that the law of the case... Read more »

Posted: April 19, 2020

Court Did Not Abuse Discretion in Dismissing Years-Old Action Without Prejudice

On April 16, 2020, the Third Department issued a decision in Green Tree Servicing LLC v. Shiow Fei Ju, 2020 NY Slip Op. 02307, holding that a trial court did not err in dismissing a years-old action without prejudice, explaining: Defendant contends that Supreme Court erred in granting plaintiff’s motion without prejudice because plaintiff has... Read more »

Posted: April 18, 2020

Party That Did Not Sign Agreement Containing Arbitration Provision Not Required to Arbitrate Dispute

On April 16, 2020, the First Department issued a decision in Matter of KPMG LLP v. Kirschner, 2020 NY Slip Op. 02286, holding that a party that did not sign an agreement containing an arbitration provision was not required to arbitrate a dispute arising from that agreement, explaining: The parties agree that the issue of... Read more »

Posted: April 17, 2020

Existence of Contract Bars Claim for Equitable Indemnification

On April 13, 2020, Justice Borrok of the New York County Commercial Division issued a decision in Allergan Fin., LLC v. Pfizer Inc., 2020 NY Slip Op. 50422(U), holding that the existence of a contract that addressed indemnification barred a claim for equitable indemnification, explaining: The principle of equitable indemnification, also known as common law... Read more »

Posted: April 16, 2020

Breach of Contract Claim Dismissed for Failure to Identify Contract Terms that Were Breached

On April 2, 2020, Justice Ostrager of the New York County Commercial Division issued a decision in Icon DE Holdings, LLC v. Mondani Handbags & Accessories, Inc., 2020 NY Slip Op. 30904(U), dismissing a breach of contract claim for failure to identify the specific terms of the contract that were breached, explaining: Plaintiff argues that... Read more »

Posted: April 15, 2020

Attorney Can Be Liable for Participating in a Client’s Tortious Misconduct

On March 31, 2020, Justice Schecter of the New York County Commercial Division issued a decision in FGP 1, LLC v. Dubrovsky, 2020 NY Slip Op. 30899(U), holding that an attorney can be liable for participating in a client’s tortious misconduct, explaining: The parties dispute, however, whether Stewart, given his status as Dubovsky‚Äôs attorney, can... Read more »

Posted: April 14, 2020

Current Financial Crisis Likely Will Lead to Events of Default in RMBS Trusts

Unlike our usual posts, which analyze recent Commercial Division decisions, this post is written to alert RMBS certificateholders of imminent events of default in RMBS trusts due to the liquidity crisis most servicers are expected to face beginning this month. RMBS certificateholders should understand their rights and the protections to which they are entitled in... Read more »

Posted: April 12, 2020

Cost of Litigation Does Not Satisfy Damages Element of Tort Claim

On April 9, 2020, the First Department issued a decision in CWCapital Invs. LLC v. CWCapital Cobalt VR Ltd., 2020 NY Slip Op. 02240, holding that the cost of litigation was insufficient to satisfy the damages element of a tort claim, explaining: In the sixth cause of action, plaintiffs allege that OZ Management tortiously interfered... Read more »