In a recent decision, the New Jersey Superior Court, Appellate Division, analyzed the enforceability of a counterclaim waiver provision contained in commercial loan documents.
The U.S. Court of Appeals for the Second Circuit affirmed a bench trial verdict in a breach of contract case, holding that the district court properly “pierced the corporate veil” and imposed liability on a defendant corporation under an “alter ego” theory.
The U.S. Court of Appeals for the Second Circuit has affirmed a district court ruling that held that the “plain meaning” of the contract between AT&T Corporation and KATEL Limited Liability Company with respect to the exchange of telephone calls between the United States and Kyrgyzstan did not require exclusivity.
The Second Circuit Court of Appeals affirmed the Southern District of New York’s dismissal of a complaint by South Cherry Street, LLC, alleging that Hennessee Group LLC breached an oral contract to provide investment advisory services.
In COR Route 5 Co. v. Penn Traffic Co.1 (In re Penn Traffic Co), the United States Court of Appeals for the Second Circuit held that a non-debtor party to an executory contract may not, by fulfilling its contractual obligations post-petition, deprive the debtor of its ability to reject an executory contract.
In Motorola, Inc. v. Official Committee of Unsecured Creditors (In re Iridium Operating LLC), 478 F.3d 452 (2d Cir. 2007), the Official Committee of Unsecured Creditors (the “Committee”) and the debtors’ lenders sought approval of a settlement prior to confirmation of a plan of reorganization.