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 »
Posts Categorized: Court Rules/Procedures
On February 20, 2014, the First Department issued a decision in People v. Ernst & Young, LLP, 2014 NY Slip Op. 01257, reversing New York County Commercial Division Justice Jeffrey K. Oing’s dismissal of the New York Attorney General’s claims under the Martin Act and New York’s Executive Law for disgorgement of profits earned by... Read more »
On February 5, 2014, New York County Commercial Division Justice Bransten issued a decision in Oppenheimerfunds, Inc. v. TD Bank, N.A., 2014 NY Slip Op. 30379(U), granting a motion to dismiss for failure to join necessary parties. Oppenheimerfunds arose from a liquidation relating to an ethanol plant, of which plaintiffs were subordinate bondholders. The plaintiffs alleged... Read more »
Justice Ramos of the New York County Commercial Division recently updated his Individual Practices.
On February 6, 2014, Justice Schweitzer of the New York County Commercial Division issued a decision in Eden Roc, LLLP v. Marriott International, Inc., 2014 NY Slip Op. 30377(U), granting a motion for reargument. In Eden Roc, the trial court denied the defendants’ motion to dismiss with respect to the plaintiff’s cause of action for... Read more »
On February 5, 2014, New York County Commercial Division Justice Friedman issued a decision in W.S. Corp. v. Cullen and Dykman LLP, 2014 NY Slip Op. 30353(U), denying a motion for change of venue from New York County to Nassau County. In W.S. Corp., the court granted in part a motion to dismiss former clients’... Read more »
As we previously posted, on Monday, February 17, 2014, the monetary threshold for the assignment of a case to the New York County Commercial Division will increase to $500,000.
The change of the monetary threshold for assignment to the New York County Commercial Division from $150,000 to $500,000, previously reported in the press, takes effect February 17, 2014.
The Office of Court Administration has asked for public comment on yet another proposed change to the rules of the Commercial Division. In addition to the four proposed rule changes about which we posted on January 1, 2014 (the comment period already has closed for two of the four proposals), the court also is seeking public... Read more »
On January 23, 2014, Justice Bransten of the New York County Commercial Division issued a decision in Shareholder Representative v. Sandoz Inc., 2014 NY Slip Op. 30200(U), granting a motion to file a sealed complaint. This action arose out of the sale of a pharmaceutical company, which was developing a new drug, to the defendant.... Read more »