NY Commercial Litigation Insider

Top News

Prince's Point in Staten Island

Panel Declines to Order Return of $4M in Rescinded Deal

By Ben Bedell |

A real estate buyer cannot recoup a $4 million deposit because the sellers were relieved of any obligation to show they were ready to close when the buyer filed a rescission action before the closing date, an appellate court held.

Chobani Simply 100 Greek Yogurt

Judge Halts Chobani Ads Against Competitors' 'Bad Stuff'

By Joel Stashenko |

A federal judge has ordered Chobani to halt advertisements for its new lower-calorie yogurt in which it accuses Dannon and Yoplait of putting dangerous chemicals into their competing products.

State, SEC Garner $155M in 'Dark Pool' Settlements

By Ben Bedell |

Enforcement actions against global banks Barclays and Credit Suisse alleging they lied to institutional investors about the benefits of using their "dark pool" platforms to execute securities trading were settled Monday for $155 million in fines and disgorgements.

Divided Panel Upholds Dismissal of Chef's Claim

By Ben Bedell |

The First Department narrowly upheld the dismissal of a fraudulent inducement claim prominent chef Kyle Connaughton brought against Chipotle and its co-founder, saying "the complaint does not allege facts from which actual damages can be inferred."

Litigator’s Corner

Barbara M. Goodstein

A Perfected Lien Is Trumped: Must It Be 'Use It or Lose It'?

By Barbara M. Goodstein |

In her Secured Transactions column, Barbara M. Goodstein writes: Some courts have concluded that merely having a prior perfected security interest is not enough to defeat the rights of a judgment creditor. Prompt enforcement of that security interest is also required. The author examines these cases in the context of 'American Home', one of the more recent decisions in this continuing judicial debate.

Nicholas M. De Feis and Philip C. Patterson

Using Anti-Corruption Laws to Address Overseas Security Threats

By Nicholas M. De Feis and Philip C. Patterson |

In their International Criminal Law and Enforcement column, Nicholas M. De Feis and Philip C. Patterson write: Although the DOJ's ability to act in foreign countries is limited at best, the recent prosecution of an official with Russia's state-owned nuclear corporation using federal money laundering statutes illustrates how the DOJ can try to chip away at the edges of serious crimes without having to depend on unreliable foreign enforcement efforts.

Joseph J. LoBue and Helene Gogadze

Rare Investor-State Arbitration Finding on Bankruptcy Decision

By Joseph J. LoBue and Helene Gogadze |

Joseph J. LoBue and Helene Gogadze write that international arbitration tribunals have held that the guarantee of "fair" and "equitable" treatment for foreign investors precludes treaty states from administering justice in local proceedings in a manner that deprives foreign investors of due process rights. Such "denial-of-justice" findings are rare, but one was made in a recently published award in 'Dan Cake S.A. v. Hungary'.

Philip Mindlin, Emil A. Kleinhaus and Neil K. Chatani

'Codere': A New Model for Cross-Border Restructurings

By Philip Mindlin, Emil A. Kleinhaus and Neil K. Chatani |

Philip Mindlin, Emil A. Kleinhaus and Neil K. Chatani write that for some time, the "COMI shift"—i.e., moving the company's "center of main interest"—has been a strategy of choice for multinational companies in financial distress, with England as the preferred destination. While that remains a viable route to access a UK scheme, the recent restructuring of Codere presents an alternative method that in some cases will be more efficient and straightforward.