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Posted: September 28, 2026
Written by: Channing J. TurnerCourt Dismisses Fraud Claims For M&A Where Buyer Offered No Evidence Of The Acquired Company’s Actual Value
On August 28, 2026, in VXI Lux Holdco S.A R.L. v. SIC Holdings, LLC, Index No. 652064/2017, Justice Robert R. Reed of the New York County Commercial Division granted in part defendants’ motions for summary judgment, dismissing the buyer’s fraud claims for failure to raise a triable issue of monetary loss. VXI acquired all of the equity in Symbio S.A., a Luxembourg technology and software engineering company, under a November 2014 share purchase agreement. VXI alleged that the selling shareholders inflated Symbio’s earnings and concealed undisclosed liabilities, including shortfalls in social insurance and housing fund payments owed by Symbio’s Chinese subsidiary, and it sued for fraud and for breach of the agreement’s representations and warranties. On the fraud claims, VXI sought damages measured by diminution in value—the difference between the price it paid and what Symbio was actually worth. But VXI never obtained a contemporaneous appraisal, and its damages expert conceded that he had not performed an independent valuation but had instead built his analysis on VXI’s own EBITDA-multiple approach at the time of purchase. In granting summary judgment dismissing the fraud claims, the Court explained: Read More
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Posted: September 25, 2026
Written by: Thomas A. KissaneCourt Dismisses Fraud and Fiduciary Duty Claims as Duplicative of Contract, Sustains Fraudulent Inducement Claim
On January 25, 2026, Justice Andrea Masley of the New York County Commercial Division granted in part a motion to dismiss counterclaims arising from an investment-advisory relationship, dismissed fraud and fiduciary-duty theories that duplicated the parties’ contract, and sustained a fraudulent-inducement theory based on alleged pre-contract misrepresentations. The case is Psalms Creative, LLC v. Beacon Investment Holdings LLC, Index No. 650934/2025. Read More
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Posted: September 23, 2026
Written by: Thomas A. KissaneCourt Rejects Attempt to Discovery to Support Challenge to Arbitration Award
On March 2, 2026, Justice Joel M. Cohen of the New York County Commercial Division denied a petition to vacate an arbitration award and a related request for discovery, holding that the petitioner could not use the vacatur proceeding to revisit discovery issues that the arbitral tribunal had considered and rejected. The case is Shell NA LNG LLC v. Venture Global Calcasieu Pass, LLC, Index No. 659637/2025. Read More
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Posted: September 21, 2026
Written by: Thomas A. KissaneDenial of Default Judgment Where Defendant Denied Receiving Summons and Complaint Affirmed
On July 9, 2026, the First Department unanimously affirmed Commercial Division Justice Robert R. Reed’s denial of plaintiff’s motion for a default judgment and grant of defendant’s motion for additional time to answer, holding that Supreme Court providently exercised its discretion in light of New York’s strong public policy favoring resolution of disputes on the merits. The case is G-Unit Books, Inc. v Tompkins, 251 A.D.3d 424 (1st Dep’t 2026) affirming a March 2026 order in Index No. 654265/2025. Read More
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Posted: September 18, 2026
Written by: Ian WeissCourt Dismisses M&A Buyer’s Fraud Claims Absent Evidence Of The Acquired Company’s Actual Value
On August 28, 2026, in VXI Lux Holdco S.à r.l. v. SIC Holdings, LLC, Index No. 652064/2017, 2026 NY Slip Op 51408(U), Justice Robert R. Reed of the New York County Commercial Division granted defendants summary judgment dismissing plaintiff’s fraud causes of action. Read More
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Posted: September 16, 2026
Written by: Ian WeissFirst Department Enforces Nonrecourse Provision To Bar Interference Claim Based On Conduct Serving Legitimate Economic Self-Interest
On September 3, 2026, in Jefferies LLC v. Mountain State Energy Holdings LLC, Index No. 650599/25, the Appellate Division, First Department dismissed a tortious interference claim against a nonparty to the underlying agreement, based on the agreement’s nonrecourse provision. Read More
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Posted: September 14, 2026
Written by: Ian WeissFirst Department Holds Consequential Damages Waiver Does Not Reach Owner’s Direct Damages
On September 10, 2026, in Gamma USA, Inc. v. Pavarini McGovern, LLC, Index No. 655472/23, Case No. 2025-01311, the Appellate Division, First Department, unanimously modified an order of Justice Melissa A. Crane of the New York County Commercial Division that had limited a counterclaim to a $3.6 million liquidated damages cap. Read More
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Posted: September 11, 2026
First Department Affirms Dismissal Of Legal Malpractice Claim Where Alleged Causation Was Speculative
On March 10, 2026, in Gans v. Leech Tishman Fuscaldo & Lampl, LLC, 247 AD3d 456, Index No. 152695/24, the Appellate Division, First Department, unanimously affirmed an order of Justice Anar Rathod Patel, which dismissed a legal malpractice complaint and denied leave to amend. Read More
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Posted: September 9, 2026
Court Dismisses Good Faith And Fair Dealing Counterclaim Because Agreement Contained No Exclusivity Provision
On August 21, 2026, in Anexia, Inc. v. Horizon Data Solutions Ctr., LLC, Index No. 657444/2019, Justice Robert R. Reed granted plaintiff summary judgment dismissing defendant's counterclaim for breach of the implied covenant of good faith and fair dealing. Read More
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Posted: September 4, 2026
Written by: Channing J. TurnerCourt Denies Omnibus Sealing of Summary Judgment Motion Papers but Permits Sealing of Specific Exhibits
On July 2, 2026, in Time Warner Cable Enterprises LLC v. Nokia of America Corporation, Index No. 650748/2022, Justice Robert R. Reed of the New York County Commercial Division granted in part and denied in part four motions to seal. Read More
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Posted: September 2, 2026
Written by: Channing J. TurnerCourt Orders Production of Withheld Documents Where Boilerplate Privilege Assertions and a Deficient Privilege Log Failed To Carry the Party’s Burden
On August 3, 2026, in Python Financial Solutions, Inc. v. SDCK I LLC, Index No. 653659/2025, Justice Robert R. Reed of the New York County Commercial Division ordered plaintiff to produce two documents it had withheld on privilege grounds due to insufficiently describing the privilege in written objections. Read More
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Posted: August 31, 2026
Written by: Channing J. TurnerCourt Dismisses LLC Members’ Labor Law Wage Claims Because the Pleadings Describe Equity Participants Rather Than Employees
On July 27, 2026, in Bourbiaux v. Probst, Index No. 651161/2025, Justice Robert R. Reed of the New York County Commercial Division granted in part and denied in part the managing members’ motion to dismiss the second amended complaint. Read More
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Posted: August 28, 2026
Written by: Thomas A. KissaneCourt Rejects Motion in Limine as Untimely “Summary Judgment in Disguise”
On April 21, 2026, Justice Melissa A. Crane of the New York County Commercial Division rejected defendant’s attempt, through a motion in limine, to limit an upcoming trial to its damages, holding that the request amounted to an untimely motion for summary judgment on plaintiff’s affirmative claims. The case is U.S. Pony Holdings, LLC v. Fashion Footwear LLC, Index No. 655022/2022. Read More
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Posted: August 26, 2026
Written by: Thomas A. KissaneFraud Claims Dismissed Where Offering Plan Directed Sophisticated Purchasers to Ground Lease Containing Allegedly Concealed Terms
On April 1, 2026, Justice Robert R. Reed of the New York County Commercial Division dismissed fraud claims by cooperative shareholders who alleged that an offering plan misrepresented the formula governing increases in the cooperative’s ground rent. The case is 269 W. 87th St. Apt. Corp. v QSB 267 Prop. Co., LLC, Index No. 655615/2024. Read More
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Posted: August 24, 2026
Court Awards Nazi-Looted Modigliani to Original Owner’s Estate, Holding Speculation About Provenance Insufficient to Defeat Summary Judgment
On April 3, 2026, Justice Joel M. Cohen of the New York County Commercial Division granted summary judgment to the estate of Oscar Stettiner on claims seeking return of Amedeo Modigliani’s painting Seated Man With a Cane, holding that the estate established Stettiner’s superior right to possession and that defendants’ alternative theories concerning the Painting’s provenance were too speculative to create a triable issue of fact. The case is Greason v Nahmad, Index No. 650646/2014. Read More
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Posted: August 21, 2026
Written by: Ian WeissCourt Denies Motion For Summary Judgment In Lieu Of Complaint And Dismisses Action Because Return Date Did Not Give Defendant His Full Time To Appear
On August 6, 2026, in Gonzalez v. Marte, Index No. 63818/2026, Justice Gretchen Walsh of the Westchester County Commercial Division denied plaintiff’s motion for summary judgment in lieu of complaint and dismissed the action without prejudice. Plaintiff alleged that defendant had failed to pay the balance due on a $530,000 promissory note given in connection with the sale of plaintiff’s shares in a restaurant corporation. Defendant never appeared or opposed the motion. The Court held that the motion had nonetheless been short-served, and explained: Read More
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Posted: August 19, 2026
Written by: Ian WeissCourt Enforces Loan Agreement Even Though Some Funds Were Issued To Borrower’s CEO Rather Than Borrower Itself
On August 6, 2026, in Kelly v Munn Works, LLC, Index No. 64177/2026, Justice Gretchen Walsh of the Westchester County Commercial Division granted plaintiff’s motion for summary judgment in lieu of complaint. Read More
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Posted: August 17, 2026
Written by: Ian WeissCourt Holds Minority LLC Members Are Equity Participants, Not Employees, Under New York Labor Law
On July 27, 2026, in Bourbiaux v. Probst, Index No. 651161/2025, Justice Robert R. Reed of the New York County Commercial Division granted in part and denied in part defendants' motion to dismiss. Read More
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Posted: August 14, 2026
Written by: Ian WeissCourt Finds Triable Issues In Aircraft Lease Dispute That Include Whether Lessor Prevented Lessee From Returning Engine
On July 15, 2026, in Magnetic Parts Trading Limited v National Air Cargo Group, Inc., Index No. 653266/2020, Justice Robert R. Reed of the New York County Commercial Division denied plaintiff's motion for partial summary judgment on its breach of lease claim, in part because an issue of fact existed under the doctrine of prevention. Read More
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Posted: August 12, 2026
Written by: Ian WeissCourt Permits Nonparty Subpoenas Seeking Endorsement Agreements With Professional Golfer In Commission Dispute
On July 10, 2026, in Schaeffer v GSE Worldwide, Index No. 652676/2021, Justice Robert R. Reed of the New York County Commercial Division denied the defendants’ motion to quash fourteen nonparty subpoenas. Read More
