Blogs

Posts Categorized: Standing

Posted: November 7, 2020

Dissolved Corporation Can Still Bring Lawsuit

On October 22, 2020, Justice Borrok of the New York County Commercial Division issued a decision in 3B Assoc. LLC v. Ecommission Solutions, LLC, 2020 NY Slip Op. 33512(U), holding that a dissolved corporation still can bring a lawsuit, explaining: Moreover, 3B Associates’ proposed amendment is not palpably improper or devoid of merit insofar as... Read more »

Posted: September 22, 2020

Undisclosed Principal May Sue on a Contract Made in its Agent’s Name

On September 8, 2020, Justice Borrok of the New York County Commercial Division issued a decision in Artemus USA LLC v. Leila Taghinia-Milani Inc., 2020 NY Slip Op. 32958(U), holding that an undisclosed principal may sue on a contract made in its agent’s name, explaining: The Defendants argue that all claims asserted on behalf of... Read more »

Posted: December 5, 2019

Directing RMBS Certificateholder Not “Effective” Plaintiff Causing Suit to Fail for Lack of Standing Under PSA’s No Action Clause

On November 21, 2019, Justice Friedman of the New York County Commercial Division issued a decision in Natixis Real Estate Capital Trust 2007-HE-2 v Natixis Real Estate Capital, Inc., 2019 NY Slip Op. 33438(U), holding that a directing RMBS certificateholder was not the “effective” plaintiff in an RMBS put-back action, which would cause the action... Read more »

Posted: March 16, 2019

Claim Time-Barred Because it Was Not Assigned to Plaintiff Until After Statute of Limitations Had Run

On February 28, 2019, the First Department issued a decision in Rizack v. Signature Bank, N.A., 2019 NY Slip Op. 01494, holding that a claim was time-barred because it was not assigned to the plaintiff until after the statute of limitations had run, explaining: In September 2007, West End Financial Advisors LLC entered into a... Read more »

Posted: February 14, 2019

A Lawyer’s Failure to Have an Office in New York Does Not Doom Cases Filed by That Lawyer

On February 14, 2019, the Court of Appeals issued a decision in Arrowhead Capital Fin., Ltd. v. Cheyne Specialty Fin. Fund L.P., 2019 NY Slip Op. 01124, holding that a lawyer’s failure to have an office in New York does not render void actions filed by that lawyer, explaining: An attorney who is regularly admitted... Read more »

Posted: October 19, 2018

New York Law Applied to Question of Whether Tort Claims Passed to Belgian Assignee

On October 9, 2018, the First Department issued a decision in Royal Park Invs. SA/NV v. Morgan Stanley, 2018 NY Slip Op. 06695, holding that New York law applied to the question of whether tort claims passed to a Belgian assignee, explaining: Unlike substantive law, matters of procedure are governed by the law of the forum... Read more »

Posted: October 10, 2018

Shareholder Has Standing to Sue Corporation’s Counsel for Malpractice

On September 20, 2018, Justice Sherwood of the New York County Commercial Division issued a decision in Reines v. Raoul Felder & Partners, P.C., 2018 NY Slip Op. 32332(U), holding that a shareholder had standing to sue the corporation’s counsel for malpractice, explaining: It is well settled that a stockholder has no individual cause of action against... Read more »

Posted: May 30, 2017

When Plaintiffs Sold Bonds Their Tort Claims Automatically Transferred to the Purchaser

On May 15, 2017, Justice Bransten of the New York County Commercial Division issued a decision in One William Street Capital Management L.P. v. U.S. Education Loan Trust IV, LLC, 2017 NY Slip Op. 31079(U), holding that the plaintiffs lacked standing because when they their sold bonds, their tort claims automatically were transferred to the... Read more »