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Commercial Division Holds Oral Modification to Written Agreement Unenforceable Under New York’s Statute of Frauds

USA - May 12 2022 A recent ruling in the Suffolk County Commercial Division highlights the risk a party faces when agreeing to, and later attempting to, enforce an…

Jacqueline L. Bonneau

Court of Appeals Holds SEC Disgorgement Payment Does Not Constitute Excludable “Penalty” for Purposes of Insurance Coverage Dispute

USA - February 18 2022 Recently, the New York Court of Appeals issued another ruling in a long-running insurance coverage dispute concerning $140 million in disgorgement…

Jacqueline L. Bonneau

Forum Selection Clauses: Commercial Division Issues Reminder That Choice of Venue Must Be Designated with Specificity

USA - September 14 2021 Forum selection clauses are a common feature of commercial arrangements, allowing contracting parties to opt out of default procedural rules and…

Muhammad U. Faridi

Commercial Division Clarifies Application of “Sufficiently Close Relationship” Requirement for Pleading Unjust Enrichment Claims

USA - April 30 2021 Unjust enrichment offers an avenue for recovery in situations where no actual agreement exists between parties to a dispute. But this theory of…

Jacqueline L. Bonneau

First Department Issues First Ruling Dismissing Securities Act Claims Following the U.S. Supreme Court’s Cyan Decision

USA - December 22 2020 As New York commercial practitioners will recall, the U.S. Supreme Court in Cyan, Inc. v. Beaver Cty. Emps. Ret. Fund held that state and federal…

Stephen P. Younger