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'Savings Provision' Clarifed in RMBS Cases

By Ben Bedell |

The Commercial Division justice assigned to hear residential mortgage-backed securities cases issued companion rulings March 29 that limited the use of the CPLR's "savings provision" by the plaintiffs' bar to revive cases dismissed on statute of limitations grounds.

The Appellate Division, First Department, at 27 Madison Ave.

Appellate Court Declines to Revive Two RMBS Cases

By Ben Bedell |

The First Department held that a plaintiff's failure to make a pre-suit demand of JPMorgan's board of directors doomed a derivative action brought by a pension fund that lost money on JPMorgan stock, and in a separate ruling, established an accrual date for common-law fraud and aiding and abetting claims brought against issuers of mortgage-backed securities.

The Appellate Division, First Department, at 27 Madison Ave.

Panel Upholds $1.6 Million Judgment Against TV Host

By Ben Bedell |

A $1.6 million judgment against CNBC talk show host Donny Deutsch has been affirmed by the Appellate Division, First Department.

Litigator’s Corner

John Fellas

Jurisdictional Obstacles and Enforcing Foreign Arbitral Awards

By John Fellas |

In his International Arbitration column, John Fellas writes: Given the differences in the treatment by New York courts of foreign arbitral awards and foreign judgments when it comes to the applicability of jurisdictional defenses, a question arises: Is it possible to avoid the jurisdictional obstacles to the enforcement of foreign arbitral awards by seeking to enforce not the arbitration award itself, but rather the foreign judgment confirming that award? A recent case affirms that this is indeed possible.