"The policy at issue is a political risk insurance policy, not a credit insurance policy," a unanimous First Department panel said, and was not triggered by a Mexican resort company's bankruptcy filing, which "was not an alteration of Mexican law."
NY Commercial Litigation Insider
Fraud claims against Proskauer Rose stemming from a tax shelter scheme it helped sell to the heirs of the Johnson & Johnson fortune will survive a motion to dismiss, the Appellate Division, First Department, ruled Thursday.
A Manhattan Commercial Division judge invalidated a $2 million finder's fee claimed on the basis of an oral agreement purportedly entered four years prior to the sale of an iconic Pittsburgh office tower.
The Appellate Division, First Department, affirmed dismissal of a Commercial Division case Tuesday, holding that the transaction at issue did not have a "substantial nexus" to the state.
In their Commercial Division Update, George Bundy Smith and Thomas J. Hall write that previously, courts often have found that where parties to an alleged contract engaged in subsequent negotiations over material terms of the agreement, no meeting of the minds was reached, and there was no enforceable contract. Courts may now be less inclined to find as such after two recent decisions.
C. Evan Stewart writes: While judges often make rulings on the attorney-client privilege and work product doctrine that are wide of the mark, every so often they get one spot-on. Happily, the First Department (per Judge Karla Moskowitz), recently did just that in reversing a trial court order that held that documents relating to a merger were not protected by the "common interest" privilege.
John L. Ewald and David Fuad of Orrick, Herrington & Sutcliffe write: Courts are currently wrestling with questions in ride-share litigation. The answers will have far-reaching consequences for ride-sharing and other connector companies as they face an increasing number of tort claims, consumer class actions, and wage-and-hour class actions.
Peter S. Britell and Susan Golden of Venable discuss legal preparedness by commercial, nonprofit and government property owners, and ways to minimize disputes and litigation that can arise from the hiring of emergency or post-disaster contractors—or from procurement rules that inhibit the hiring of such contractors.