Blogs

Commercial Division Blog

Current Developments in the Commercial Divisions of the
New York State Courts by Schlam Stone & Dolan LLP
Posted: June 16, 2021

Statute Barring Lease Provisions That Prohibit Tenants from Seeking a Yellowstone Injunction Does Not Apply to Leases Effective Before the Statute was Enacted

On April 9, 2021, Justice Knipel of the Kings County Commercial Division issued a decision in 159 MP Corp. v. Redbridge Bedford LLC, 2021 NY Slip Op. 31716(U), holding that the recently-enacted statute barring lease provisions that prohibit tenants from seeking a Yellowstone injunction does not apply to leases that were effective before the statute was enacted . . .

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Posted: June 15, 2021

Liquidated Damages Provision Based on Notice of Intention to Redevelop Property Not Enforceable When Tenancy Not Terminated

On May 25, 2021, Justice Borrok of the New York County Commercial Division issued a decision in Prada USA Corp. v. 724 Fifth Fee Owner LLC, 2021 NY Slip Op. 50494(U), holding that a liquidated damages provision based on notice of an intention to redevelop a property was not enforceable when the tenancy was not terminated . . .

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Posted: June 12, 2021

Alleged Failure of Law Firm to Have a Written Engagement Letter Insufficient Basis to Vacate Arbitral Award in Fee Dispute

On May 20, 2021, the First Department issued a decision in Matter of Gibson, Dunn & Crutcher LLP v. World Class Capital Group, LLC, 2021 NY Slip Op. 03252, holding that the alleged failure to have a written engagement letter was an insufficient basis to vacate an abritral award in a legal fee dispute . . .

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