The First Department noted that the guarantee at issue secured rent payments on a property in Georgia and specified Georgia law would control its interpretation, but said that hearing the case "does not create any undue burden on New York courts."
NY Commercial Litigation Insider
The First Department cleared the way Tuesday for a $120 million suit charging Goldman Sachs and hedge fund giant Paulson & Co. with fraud in connection with the 2008 mortgage meltdown.
Manhattan Justice Eileen Bransten approved the appointment of a referee in the acrimonious suit between two founders of Napoli Bern Ripka Shkolnik in an order filed Wednesday.
BNY Mellon has agreed to pay $14.8 million to settle federal civil charges of attempting to influence officials of a Middle Eastern sovereign wealth fund by giving internships to their family members.
In their Commercial Division Update, George Bundy Smith and Thomas J. Hall analyze recent decisions demonstrating that, although a clearly enunciated test for distinguishing direct shareholder claims from derivative claims now exists, its application is not always clear.
Suzanne Avena and Marc Sittenreich of Garfunkel Wild write: The water seems muddy regarding just who is and who is not a "discharger" under the New York Oil Spill Law. As a public welfare environmental law, the statute is interpreted broadly. However, it seems that the strict, retrospective, joint and several liability scheme is more often than not wielded by courts to capture a more variable selection of parties as dischargers than what may have been intended.
Judith A. Archer and Jami Mills Vibbert of Norton Rose Fulbright write: New York state and federal courts routinely decide significant commercial disputes in a variety of industries and continue to play an important role in New York's sustained status as a commercial center.
Deborah L. Gersh, Christina M. Bergeron and John C. Saran of Ropes & Gray write: The recent settlement between the New York State Office of the Attorney General and Aspen Dental Management has the potential to create unintended consequences on dental service organizations operating in New York and the benefits and support they offer to dental practices.