Author Archives: cdolreic

Matter of Digeser v. Flach, Index No. 2382-13 (Platkin, J.)

Valuation of Shares; Dissolution; Corporations By: Steven Cuttonaro | Staff Writer Petitioner commenced this action seeking to dissolve two business corporations, Gould Erectors & Rigging, Inc. (“Gould”), and Flach Crane and Rigging Co., Inc. (“Flach”) pursuant to Business Corporation Law … Continue reading

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Culligan Soft Water Co. v. Clayton Dubilier & Rice, LLC, Index No. 651863/2012, 1/11/2017 (Oing, J.)

CPLR § 3102(c); Derivative Action By: Madeline Collins | Senior Staff Writer Plaintiffs, minority shareholders of nominal Defendant, Culligan Ltd. (“Culligan Limited”), bought this derivative action on behalf of that entity, a Bermuda company that does business in New York.

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Moquinon, Ltd. v. Gliklad, Index No. 650366/2017, 4/6/2017 (Singh, J.)

Attachment in Aid of Arbitration; Promissory Note; CPLR 7502(c); Preliminary Injunction By: Brandon Dorman | Staff Writer Respondent, Gliklad, and Michael Cherney executed a promissory note worth $270 million (“Note”) in Russia. Respondent later moved to enforce the Note in … Continue reading

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Optimal Strategic U.S. Equity Ltd. v. SPV OSUS Ltd., Index No. 653693/2014, 03/06/17 (Scarpulla, J.)

Assignment of Contract Rights; Third-Party Claims; Integration; Summary Judgment By: Christine A. Kowlessar | Staff Writer Plaintiff, a trading company, invested all its assets with a corporation that later collapsed. In its liquidation settlement with the corporation’s trustee, Plaintiff’s claim … Continue reading

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Sybron Can. Holdings, Inc. v. Niznick, Index No. 650908/14, 03/03/2017 (Ostrager, J.)

Buyout Provisions; Cause Call Options; Breach of Contract; Fiduciary Duties By: Kayla Kuzniewski | Staff Writer Plaintiff purchased a majority interest in Defendant’s dental business. Plaintiff bought Defendant out after learning Defendant manipulated Plaintiff and its employees to ensure that … Continue reading

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Progresso Ventures, LLC v. Mazzola, Index No. 652730/2015, 3/15/2017 (Ramos, J)

Partial Summary Judgment; CPLR 3212; Guarantee Agreement; Breach of Guarantees; Default of Obligation; Reinvestment By: Christina Falco | Staff Writer Defendants executed a Note Purchase Agreement (“Note Agreement”). Prior to execution, Mazzola, DiSanluciano, and Barkow (collectively, the Guarantors) each executed … Continue reading

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Louis Morizio v. Adirondack Research & Mgmt., Inc., Index No. 3005-12, 2/17/2017 (Platkin, J.)

Dilution; Voting Rights; Fiduciary Duty; Leave to Amend; Petition; Dissolution; Renew; Cross Motion; Leave to Discontinue By: George Beck | Staff Writer In a prior matter, Plaintiff shareholder sought dissolution of Defendant’s corporation under BCL 1104(a), alleging breach of contract, … Continue reading

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Financial Guar. Ins. Co. v. Morgan Stanley ABS Capital I Inc., Index No. 652914/2014, 01/23/2017 (Friedman, J.)

Motion to Dismiss; Fraud; Breach of Contract; RMBS monoline insurance litigation By: Richie DeMarco | Staff Writer Plaintiff issued an insurance policy guaranteeing payments on certain certificates in a residential mortgage-backed securitization (“RMBS”) transaction (“Transaction”).

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Nandlal v. Al-Pros Constr., Inc., Index No. 16256/12, 4/7/17 (Dufficy, J.)

Breach of Contract; Unjust Enrichment; Alter-Ego Liability By: Gregory Brown, Jr. | Executive Publications Editor Plaintiffs entered into a contract with Defendant, a construction company, for the renovation of Plaintiff’s home.

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Ambac Assur. Corp. v. Countrywide Home Loans, Inc., Index No 653979/14, 12/19/2016 (Friedman, J.)

Fraud; Fraud Inducement; Justifiable Reliance; Damages By: Taylor E. Anderson | Staff Writer Plaintiff insured eight residential mortgage-backed securities (“RMBS”) transactions (“the Transactions”). Defendant and its subsidiaries supplied all or most of the loans for the transactions and was the … Continue reading

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