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Commercial Division Blog

Current Developments in the Commercial Divisions of the
New York State Courts by Schlam Stone & Dolan LLP
Posted: November 23, 2020

RMBS Trustee’s Obligation to Hold the Trust’s Contractual Rights and to Exercise Them For the Benefit of Certificateholders Includes Affirmative Duty to Enforce Those Rights

On November 5, 2020, Justice Cohen of the New York County Commercial Division issued a decision in Western & S. Life Ins. Co. v. U.S. Bank N.A., 2020 NY Slip Op. 51307(U), holding that an RMBS trustee’s obligation to hold the trust’s contractual rights and to exercise them for the benefit of certificateholders includes an affirmative duty to enforce those rights . . .

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Posted in Commercial, Contracts
Posted: November 22, 2020

Fraud Claim Based on Omissions Fails in Light of Disclosure that Not All Material Information Was Being Disclosed for Securities Law Reasons

On November 5, 2020, Justice Borrok of the New York County Commercial Division issued a decision in Silver Point Capital Fund, L.P. v. Riviera Resources, Inc., 2020 NY Slip Op. 51308(U), holding that a fraud claim based on an omission fails because the material information was withheld for securities law reasons . . .

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Posted: November 18, 2020

No Entitlement to Indemnification or Advancement In Suit Between Contracting Parties Unless Indemnification Provision Unequivocally Requires It

On November 05, 2020, the First Department issued a decision in Shatz v. Chertok, 2020 NY Slip Op. 06369, holding that there was no entitlement to indemnification or advancement in a suit between contracting parties because the indemnification provision did not unequivocally reflect that intent . . .

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Posted: November 17, 2020

E-Mail Between Counsel Cannot Form Binding Agreement if The E-Mail Does Not Have the Attorney’s Typed E-Mail Signature

On October 23, 2020, Justice Knipel of the Kings County Commercial Division issued a decision in Doka USA, Ltd. v. Manny P Concrete, Inc., 2020 NY Slip Op. 33618(U), holding that an e-mail between counsel cannot form a binding agreement if the e-mail does not have that attorney’s typed e-mail signature . . .

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Posted in Commercial, Contracts