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USA - December 17 2012
In HCG Mezzanine Dev. Fund, L.P. v. Jreck Holdings, LLC, Index No. 652797/2011 (N.Y. Sup., N.Y. Cnty. Oct. 26, 2012), the New York Supreme Court (Kornreich, J.) granted Plaintiff HCG Mezzanine Development Fund, L.P.’s (HCG) motion for summary judgment in lieu of complaint against defendant Jreck Holdings LLC (“Jreck Holdings”), two of its subsidiaries, and Christopher Swartz, the CEO and President of Jreck Holdings (collectively, “defendants”).
USA - September 20 2012
On September 5, 2012, the United States Court of Appeals for the Second Circuit issued its long-awaited and highly anticipated decision in Christian Louboutin S.A. v. Yves Saint Laurent Am. Holding, Inc.
USA - August 13 2012
In Ashwood Capital, Inc. v. OTG Management, Inc., No. 652087/10 (N.Y. App. Div. 1st Dep’t Jul. 10, 2012), the New York Appellate Division’s First Department unanimously affirmed the dismissal by the Supreme Court Commercial Division (Ramos, J.) of a claim for breach of contract, which refused to permit a party to infuse ambiguity into a commercial contract where the plain terms of the agreement were clear.
USA - February 13 2012
In Wells Fargo Bank Northwest v. US Airways, Inc., 2011 NY Slip Op 52188(U) (Sup. Ct. N.Y. County Dec. 1, 2011), Justice Bernard J. Fried held that a liquidated damages provision requiring payment of a holdover fee equal to twice the monthly rent was reasonable and did not function as a penalty under New York contract law.
