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BRIDGE STREET HOMEOWNERS ASSOCIATION v. BRICK CONDOMINIUM DEVELOPERS, 26507/06 (1-23-2007)
26507/06
January 23, 2007
Upon the foregoing papers in this action by Bridge Street Homeowners Association (BSHA) and 37 individual residential unit owners of the Bridge No. 50 Condominium (Bridge Street Condominium) (collectively, plaintiffs) alleging 11 causes of action, 223 Water Street, LLC and Joshua Guttman a/k/a Joshua Gutman (Guttman) cross-move for an order: (1) pursuant to CPLR 3211 (a) (1), (3), and (7), and General Business Law § 352-e (1) (b), dismissing plaintiffs' complaint as against them, and (2) correcting ... -FACTS- In September 2003, 223 Water Street, LLC, the owner of a building located at 50 Bridge Street, in Brooklyn, New York, entered into a contract with Brick, pursuant to which Brick purchased the fourth, fifth, sixth, and penthouse floors of the building for...
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
LONG SLAND LIGHTING COMPANY v. CHESTNUT STATION, INC., 020515-09 (6-5-2012)
No. 020515-09
June 5, 2012
B. The Parties' History The parties' history is set forth in detail in a prior decision of the Court dated July 15, 2010 ("Prior Decision") (Ex. B to Duffy Aff. in Supp.) which addressed a prior motion filed by Plaintiff ("Prior Motion"). In the Prior Decision, the Court 1) granted Plaintiff's motion for a default judgment against Defendant Chestnut Station, Inc. ("CSI") on the fourth cause of action in the Complaint in the sum of $118,677.33, plus costs and attorney's fees to be determined at an ... As noted in the Prior Decision, CSI is a New York corporation that became inactive on or about July 29, 2009 due to dissolution by proclamation of the New York Department of State. Catanese was and continues to be President of SCI. Catanese, in his capacity as President of CSI, made a...
bankruptcy - bankruptcy
CIMERRING v. MERRILL LYNCH MORTGAGE INVESTORS, 8727/2011 (6-13-2012)
8727/2011
Decided on June 13, 2012
FACTS AND PROCEDURAL HISTORY The Lee Hall Loan Plaintiff Avram Cimerring (Cimerring)[fn1] and non-party Ran Nizan (Nizan) were the principals of Lee Hall LLC (Lee Hall), a company that sought financing for the purchase of four apartment complexes in Virginia (the mortgaged property). Cimerring and Nizan Page 2 executed a personal guaranty (the Guaranty) on a Deed of Trust note (the Note) in order for Lee Hall to obtain a $17.4 million commercial mortgage loan (the Lee Hall Loan) from Wexford Bancorp (... UBS then sold the Lee Hall Loan, as part of a pool of commercial mortgages, to Merrill Lynch Mortgage Investors, Inc. (MLMI) pursuant to a Mortgage Loan Purchase Agreement (the MLPA) dated November 1, 1999. The purchase price for the pool of loans was allegedly based on the...
securities - securities
CIMERRING v. MERRILL LYNCH MORTGAGE INVESTORS, 8727/2011 (6-13-2012)
8727/2011
Decided on June 13, 2012
FACTS AND PROCEDURAL HISTORY The Lee Hall Loan Plaintiff Avram Cimerring (Cimerring)[fn1] and non-party Ran Nizan (Nizan) were the principals of Lee Hall LLC (Lee Hall), a company that sought financing for the purchase of four apartment complexes in Virginia (the mortgaged property). Cimerring and Nizan Page 2 executed a personal guaranty (the Guaranty) on a Deed of Trust note (the Note) in order for Lee Hall to obtain a $17.4 million commercial mortgage loan (the Lee Hall Loan) from Wexford Bancorp (... UBS then sold the Lee Hall Loan, as part of a pool of commercial mortgages, to Merrill Lynch Mortgage Investors, Inc. (MLMI) pursuant to a Mortgage Loan Purchase Agreement (the MLPA) dated November 1, 1999. The purchase price for the pool of loans was allegedly based on the...
"franchise" or "franchising" - "franchise" or "franchising"
LONG SLAND LIGHTING COMPANY v. CHESTNUT STATION, INC., 020515-09 (6-5-2012)
No. 020515-09
June 5, 2012
B. The Parties' History The parties' history is set forth in detail in a prior decision of the Court dated July 15, 2010 ("Prior Decision") (Ex. B to Duffy Aff. in Supp.) which addressed a prior motion filed by Plaintiff ("Prior Motion"). In the Prior Decision, the Court 1) granted Plaintiff's motion for a default judgment against Defendant Chestnut Station, Inc. ("CSI") on the fourth cause of action in the Complaint in the sum of $118,677.33, plus costs and attorney's fees to be determined at an ... As noted in the Prior Decision, CSI is a New York corporation that became inactive on or about July 29, 2009 due to dissolution by proclamation of the New York Department of State. Catanese was and continues to be President of SCI. Catanese, in his capacity as President of CSI, made a...
bankruptcy - bankruptcy
MORAN ENTERPRISES, INC. v. HURST, 2011-02198 (2d Dept 6-20-2012)
2011-02198
Decided on June 20, 2012
Ordered that the order is modified, on the law, (1) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 1 and 4, and substituting therefor a provision granting those branches of the motion, and (2) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 2, 3, 5, 7, 10, 12, 13, 14, and 15, and substituting therefor a provision granting ... DECISION ~amp~ ORDER The plaintiff, Moran Enterprises, Inc. (hereinafter MEI), retained attorney Margaret Hurst to represent it in certain matters, including filing a Chapter 11 petition for bankruptcy on its behalf. A few months later, Hurst left active practice and transferred her...
securities - securities
IN THE MATTER OF MIRAGLIA v. ESSEX INSURANCE COMPANY, 2010-12090 (2d Dept 6-20-2012)
2010-12090
Decided on June 20, 2012
DECISION ~amp~ ORDER A judgment creditor's ability to satisfy a judgment in his or her favor from assets that are not in the possession of the judgment debtor is governed by CPLR 5225. That statute "provides for an expedited special proceeding by a judgment creditor to recover money or other personal property' belonging to a judgment debtor against a person in possession or custody of money or other personal property in which the judgment debtor has an interest' in order to satisfy a judgment" (Matter ...
"franchise" or "franchising" - "franchise" or "franchising"
MORAN ENTERPRISES, INC. v. HURST, 2011-02198 (2d Dept 6-20-2012)
2011-02198
Decided on June 20, 2012
Ordered that the order is modified, on the law, (1) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 1 and 4, and substituting therefor a provision granting those branches of the motion, and (2) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 2, 3, 5, 7, 10, 12, 13, 14, and 15, and substituting therefor a provision granting ... DECISION ~amp~ ORDER The plaintiff, Moran Enterprises, Inc. (hereinafter MEI), retained attorney Margaret Hurst to represent it in certain matters, including filing a Chapter 11 petition for bankruptcy on its behalf. A few months later, Hurst left active practice and transferred her...
securities - securities
NINETEEN EIGHTY-NINE, LLC v. ICAHN, 7215 (1st Dept 6-21-2012)
7215, 7216
Decided on June 21, 2012
Order, Supreme Court, New York County (Eileen Bransten, J.), entered June 29, 2010 (Index 601265/07), which denied the parties' motions for summary judgment, unanimously modified, on the law, to grant defendants' motion as to the causes of action for breach of fiduciary duty, fraud, negligent misrepresentation and aiding and abetting breach of fiduciary duty and fraud, and to grant plaintiff's motion for summary judgment on the causes of action for breach of contract, and otherwise affirmed, without ...
securities - securities
BGC PARTNERS, INC. v. REFCO SECURITIES, LLC, 6624 (1st Dept 6-21-2012)
6624, 6625
Decided on June 21, 2012
Pursuant to the parties' "Master Software License, Maintenance and Service Agreement," defendant had the right to the use of certain software and equipment and to maintenance and support services, in exchange for the payment to plaintiff of an annual licensing fee and a monthly maintenance fee (the Fixed Fees). Defendant also agreed to share with plaintiff portions of any commissions it received as a result of trading activity by its clients. The Fixed Fees were required to be paid through the six-year ... Approximately four years into the term of the agreement, defendant ceased doing business, and ceased paying the Fixed Fees. Plaintiff negotiated new commission contracts, which did not include payment of the Fixed Fees, with former clients of defendant. After plaintiff...
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
WHITE v. FEE, 57828/11 (6-7-2012)
57828/11
Decided on June 7, 2012
Defendants Frank J. Fee, III ("Frank"), Kevin Fee ("Kevin") and Michael Fee ("Michael") and Frank in his role as Trustee of the Marital Deduction Trust and Residuary Trust (the "Fee Defendants") move pursuant to CPLR 3211(a)(7) and CPLR 3016(b) to dismiss the Verified Complaint ("Complaint") or, alternatively, to dismiss based on a prior action pending pursuant to CPLR 3211(a)(4) (Motion Seq. No.2). Defendant The Reliable Automatic Sprinkler Co., Inc. ("Reliable") joins in the Fee Defendants' motion (... With regard to Defendants' egregious conduct, Plaintiffs pose the rhetorical question ? "How much more egregious does it get then manipulating a dividend policy by eliminating it under the guise of hiring' your mother, then eliminating dividends to her and entirely to all other non-voting shareholders?"
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
KAHN v. RAN, 601288-11 (6-12-2012)
No. 601288-11
June 12, 2012
This matter is before the court on the motion filed by Defendants Assaf Ran, Mark Alhadeff, Phillip Michaels,[fn1] Michael Jackson, Eran Goldshmid, Lyron Bentovim and Manhattan Page 2 Bridge Capital, Inc. ("Defendants") on January 31, 2012 and submitted on May 4, 2012, following oral argument before the Court. For the reasons set forth below, the Court determines that the Complaint does not allege with adequate particularity the futility of a demand on the Board of Directors, but the Court will permit ... The Complaint alleges that on August 9, 2010, MBC filed a Schedule 14A with the Securities and Exchange Commission ("SEC") disclosing Defendants' authorization and recommendation to grant 1,000,000 restricted shares of MBC common stock to Defendant Assaf Ran ("Ran"), MBC's President and Chief Executive Officer ("CEO"),...
bankruptcy - bankruptcy
380 YORKTOWN FOOD CORP. v. 380 DOWNING DRIVE, LLC, 55188/11 (3-9-2012)
55188/11
Decided on March 9, 2012
Plaintiff, 380 Yorktown Food Corp. ("Plaintiff" or "Yorktown Food") moves, pursuant to CPLR 3212, for an order granting it summary judgment and a judgment declaring the rights, responsibilities and obligations of the parties with regard to a sublease entered into between Plaintiff and non-party The Great Atlantic ~amp~ Pacific Tea Company ("A ~amp~ P") concerning property located at 380 Downing Drive, Yorktown Heights, New York (the "Property") dated July 23, 1992 (the "Sublease"). Defendant 380 Downing... Based on the allegations of the Complaint, Plaintiff asserts that Defendant and A ~amp~ P entered into the Overlease for the Property on May 21, 1971 and on July 23, 1992, A ~amp~ P entered into the Sublease with Plaintiff (Affidavit of Joseph Friedman, sworn to September 2,...
bankruptcy - bankruptcy
GRIPPE v. SILVERITE CONSTRUCTION COMPANY, INC., 22354/10 (6-12-2012)
22354/10
June 12, 2012
RELIEF REQUESTED The third-party defendants, Airflex Industrial, Inc., and Airflex Corp., (hereinafter referred to as "Airflex"), move for an order pursuant to CPLR § 3025(b) permitting Airflex to amend its answer to include the defense of lack of capacity to sue, and for dismissal of plaintiff's complaint and the third-party action pursuant to CPLR § 3211(a)(3), CPLR § 3211(a)(5) and judicial estoppel. The defendant/third-party plaintiff, Silverite Construction Company, Inc., (hereinafter referred to ... APPLICABLE LAW A debtor is required to submit a schedule of assets and liabilities to the Bankruptcy Court, including "all pre-petition causes of action belonging to the debtor". (Meneses v. Long Island Railroad Co., 2009 US Dist. Lexis 20471). Such property includes "causes of action...
securities - securities
AMERICAN TRANSIT INSURANCE COMPANY v. CANO, 113160/2011 (6-13-2012)
113160/2011
June 13, 2012
DECSION AND ORDER Background By complaint dated November 16 th, 2011, Plaintiff American Transit Insurance Company seeks a declaratory judgment stating (1) Defendant Brian Cano is not an eligible injured person entitled to no-fault benefits under an insurance policy with the Plaintiff, (2) that Plaintiff is not required to provide, pay or honor any current or future claim for no-fault benefits under the Mandatory Personal Injury Protection endorsement under said insurance policy, and (3) that Plaintiff ...
securities - securities
KAHN v. RAN, 601288-11 (6-12-2012)
No. 601288-11
June 12, 2012
This matter is before the court on the motion filed by Defendants Assaf Ran, Mark Alhadeff, Phillip Michaels,[fn1] Michael Jackson, Eran Goldshmid, Lyron Bentovim and Manhattan Page 2 Bridge Capital, Inc. ("Defendants") on January 31, 2012 and submitted on May 4, 2012, following oral argument before the Court. For the reasons set forth below, the Court determines that the Complaint does not allege with adequate particularity the futility of a demand on the Board of Directors, but the Court will permit ... The Complaint alleges that on August 9, 2010, MBC filed a Schedule 14A with the Securities and Exchange Commission ("SEC") disclosing Defendants' authorization and recommendation to grant 1,000,000 restricted shares of MBC common stock to Defendant Assaf Ran ("Ran"), MBC's President and Chief Executive Officer ("CEO"),...
securities - securities
FIRST CARDINAL LLC v. VECTOR STRUCTURAL PRESERVATION CORP., 23217/10 (5-22-2012)
No. 23217/10
May 22, 2012
Defendant's President, Vassilios Handakas ("Handakas"), states as follows: (i) that defendant engaged ADP Insurance Services to calculate and pay premiums to plaintiff on a weekly basis; (ii) that plaintiff conducted an audit of defendant's operations and claimed that certain insurance certificates were missing and certain monies were due; and (iii) that defendant provided the insurance certificates and heard nothing further from plaintiff until it received a copy of the Property Execution obtained by ...
banking law - banking law
MATTER OF STANTON, 400-A-2006 (6-21-2012)
400-A-2006
Decided on June 21, 2012
In this SCPA 2103 proceeding the petitioning administrator, the decedent's daughter and sole distributee seeks, inter alia, an order pursuant to CPLR 6301 enjoining the respondent and Emigrant Savings Bank (Emigrant) from transferring or utilizing any funds which the decedent deposited in two separate Emigrant joint accounts with right of survivorship in his name and that of the respondent (see Banking Law § 675). The petitioner alleges that, shortly after the decedent's death, respondent closed the two... At the outset it is noted that although this court, in a May 6, 2011 order to show cause, granted a temporary restraining order with regard to the proceeds of the two Emigrant accounts, it declined to do so with regard to issues involving John Hancock Financial Annuities and, neither John Hancock nor...
banking law - banking law
MATTER OF NEILL, 2008-475/A (6-21-2012)
2008-475/A
Decided on June 21, 2012
FACTS Robert W. Neill ("Decedent") died on January 22, 2008 survived by a son, Eric Neill, a daughter, Carol Sherwood, and six grandchildren. The Decedent's Last Will and Testament, dated June 27, 2000 was admitted to probate, and Letters Testamentary were issued to his two children on March 3, 2008. The Will left each of the Decedent's six grandchildren $25,000.00, and named his two children equal residuary beneficiaries. Due to the Decedent's Alzheimer's disease and advanced dementia that ultimately ...
securities - securities
TSC INDUSTRIES, INC. v. NORTHWAY, INC., 426 U.S. 438 (U.S. 6-14-1976)
No. 74-1471
Argued March 3, 1976, Decided June 14, 1976 OCTOBER TERM, 1975
Rule 14a-9, promulgated under § 14 (a) of the Securities Exchange Act of 1934, provides that no proxy solicitation shall be made "which . . . is false or misleading with respect to any material fact, or which omits to state any material fact necessary in order to make the statements therein not false or misleading." The dispute in this case centers on the acquisition of petitioner TSC Industries (TSC) by petitioner National Industries (National). National purchased 34% of TSC's voting securities from ...
"franchise" or "franchising" - "franchise" or "franchising"
ARIZONA v. U.S., 11-182 (U.S. 6-25-2012)
No. 11-182
Argued April 25, 2012, Decided June 25, 2012 OCTOBER TERM, 2011
In any event, it is hard to see how state and local officers could proceed in conformity with the Federal Government's enforcement priorities without making an inquiry into a suspected alien's immigration status. For example, one of the Federal Government's highest priorities is the apprehension and removal of aliens who have failed to comply with a final order of removal. See App. 108. How can an officer identify those persons without first inquiring about their status? The United States' attack on § 2(B) is quite remarkable. The United States suggests that a state law may be preempted, not because it conflicts with a federal statute or regulation, but because it is inconsistent with a federal agency's current enforcement priorities. Those priorities, however, are not ...
bankruptcy - bankruptcy
STATE v. SHINNECOCK INDIAN NATION, 08-1194-cv (2nd Cir. 6-25-2012)
Nos. 08-1194-cv(L), 08-1195-cv(CON)
Decided: June 25, 2012
The Shinnecock Indian Nation and its tribal officials (collectively, the "Shinnecock" or the "Tribe") appeal from a Page 3 judgment of the United States District Court for the Eastern District of New York (Joseph F. Bianco, Judge). After a bench trial, the district court granted a permanent injunction prohibiting the Tribe from developing a casino on a plot of land known as Westwoods without complying with the laws of New York State and the Town of Southampton. The Shinnecock object to a number of the ...
"franchise" or "franchising" - "franchise" or "franchising"
STATE v. SHINNECOCK INDIAN NATION, 08-1194-cv (2nd Cir. 6-25-2012)
Nos. 08-1194-cv(L), 08-1195-cv(CON)
Decided: June 25, 2012
The Shinnecock Indian Nation and its tribal officials (collectively, the "Shinnecock" or the "Tribe") appeal from a Page 3 judgment of the United States District Court for the Eastern District of New York (Joseph F. Bianco, Judge). After a bench trial, the district court granted a permanent injunction prohibiting the Tribe from developing a casino on a plot of land known as Westwoods without complying with the laws of New York State and the Town of Southampton. The Shinnecock object to a number of the ...
securities - securities
J.P. MORGAN SECURITIES INC. v. VIGILANT INSURANCE COMPANY, 2012-477 (N.Y. 6-D-2012)
No. 2012-477
June 26, 2012
J.P. MORGAN SECURITIES INC. v. VIGILANT INSURANCE COMPANY, 2012-477 (N.Y. 6-D-2012) J.P. Morgan Securities Inc., et al., Appellants, v. Vigilant Insurance Court of Appeals of the State of New York. Motion for leave to appeal granted.
banking law - banking law
IN THE MATTER OF THE ESTATE OF NEILL, 2008-475/A (6-21-2012)
No. 2008-475/A
June 21, 2012
Decision ~amp~ Order FACTS Robert W. Neill ("Decedent") died on January 22, 2008 survived by a son, Eric Neill, a daughter, Carol Sherwood, and six grandchildren. The Decedent's Last Will and Testament, dated June 27, 2000 was admitted to probate, and Letters Testamentary were issued to his two children on March 3, 2008. The Will left each of the Decedent's six grandchildren $25,000.00, and named his two children equal residuary beneficiaries. Due to the Decedent's Alzheimer's disease and advanced ...
banking law - banking law
ASTORIA FEDERAL SAVINGS AND LOAN ASSN. v. RIGANO, 16575 (3-23-2012)
16575(T)-11
Decided on March 23, 2012
In this residential foreclosure action, Defendant homeowners Lawrence A. Rigano, Jr. and Liane F. Rigano brought a third-party action on December 19, 2011, against the mortgage brokers, Asset Center, Inc. and Francine Silberman Disesa, asserting that such Third Party Defendants engaged in predatory lending practices in violation of the Home Ownership and Equity Protection Act (see 15 USC §§ 1639, et seq.), the Truth in Lending Act (see 15 USC §§ 1601, et seq.), the Deceptive Practices Act (see General ...
bankruptcy - bankruptcy
NATIONAL FEDERATION OF INDEPENDENT BUSINESS v. SEBELIUS, 11-393 (U.S. 6-28-2012)
Nos. 11-393, 11-398 and, 11-400
Argued March 26, 27, 28, 2012, Decided June 28, 2012[fn*] OCTOBER TERM, 2011
Ultimately, the Court upholds the individual mandate as a proper exercise of Congress' power to tax and spend "for the . . . general Welfare of the United States." Art. I, § 8, cl. 1; ante, at 43-44. I concur in that determination, which makes THE CHIEF JUSTICE's Commerce Clause essay all the more puzzling. Why should THE CHIEF JUSTICE strive so mightily to hem in Congress' capacity to meet the new problems arising constantly in our ever-developing modern economy? Consider also that Congress could have repealed Medicaid. See supra, at 38-39 (citing 42 U. S. C. § 1304); Brief for Petitioners in No. 11-400, p. 41. Thereafter, Congress could have enacted Medicaid II, a new program combining the...
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
BRIDGE STREET HOMEOWNERS ASSOCIATION v. BRICK CONDOMINIUM DEVELOPERS, 26507/06 (1-23-2007)
26507/06
January 23, 2007
Upon the foregoing papers in this action by Bridge Street Homeowners Association (BSHA) and 37 individual residential unit owners of the Bridge No. 50 Condominium (Bridge Street Condominium) (collectively, plaintiffs) alleging 11 causes of action, 223 Water Street, LLC and Joshua Guttman a/k/a Joshua Gutman (Guttman) cross-move for an order: (1) pursuant to CPLR 3211 (a) (1), (3), and (7), and General Business Law § 352-e (1) (b), dismissing plaintiffs' complaint as against them, and (2) correcting ... -FACTS- In September 2003, 223 Water Street, LLC, the owner of a building located at 50 Bridge Street, in Brooklyn, New York, entered into a contract with Brick, pursuant to which Brick purchased the fourth, fifth, sixth, and penthouse floors of the building for...
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
LONG SLAND LIGHTING COMPANY v. CHESTNUT STATION, INC., 020515-09 (6-5-2012)
No. 020515-09
June 5, 2012
B. The Parties' History The parties' history is set forth in detail in a prior decision of the Court dated July 15, 2010 ("Prior Decision") (Ex. B to Duffy Aff. in Supp.) which addressed a prior motion filed by Plaintiff ("Prior Motion"). In the Prior Decision, the Court 1) granted Plaintiff's motion for a default judgment against Defendant Chestnut Station, Inc. ("CSI") on the fourth cause of action in the Complaint in the sum of $118,677.33, plus costs and attorney's fees to be determined at an ... As noted in the Prior Decision, CSI is a New York corporation that became inactive on or about July 29, 2009 due to dissolution by proclamation of the New York Department of State. Catanese was and continues to be President of SCI. Catanese, in his capacity as President of CSI, made a...
bankruptcy - bankruptcy
CIMERRING v. MERRILL LYNCH MORTGAGE INVESTORS, 8727/2011 (6-13-2012)
8727/2011
Decided on June 13, 2012
FACTS AND PROCEDURAL HISTORY The Lee Hall Loan Plaintiff Avram Cimerring (Cimerring)[fn1] and non-party Ran Nizan (Nizan) were the principals of Lee Hall LLC (Lee Hall), a company that sought financing for the purchase of four apartment complexes in Virginia (the mortgaged property). Cimerring and Nizan Page 2 executed a personal guaranty (the Guaranty) on a Deed of Trust note (the Note) in order for Lee Hall to obtain a $17.4 million commercial mortgage loan (the Lee Hall Loan) from Wexford Bancorp (... UBS then sold the Lee Hall Loan, as part of a pool of commercial mortgages, to Merrill Lynch Mortgage Investors, Inc. (MLMI) pursuant to a Mortgage Loan Purchase Agreement (the MLPA) dated November 1, 1999. The purchase price for the pool of loans was allegedly based on the...
securities - securities
CIMERRING v. MERRILL LYNCH MORTGAGE INVESTORS, 8727/2011 (6-13-2012)
8727/2011
Decided on June 13, 2012
FACTS AND PROCEDURAL HISTORY The Lee Hall Loan Plaintiff Avram Cimerring (Cimerring)[fn1] and non-party Ran Nizan (Nizan) were the principals of Lee Hall LLC (Lee Hall), a company that sought financing for the purchase of four apartment complexes in Virginia (the mortgaged property). Cimerring and Nizan Page 2 executed a personal guaranty (the Guaranty) on a Deed of Trust note (the Note) in order for Lee Hall to obtain a $17.4 million commercial mortgage loan (the Lee Hall Loan) from Wexford Bancorp (... UBS then sold the Lee Hall Loan, as part of a pool of commercial mortgages, to Merrill Lynch Mortgage Investors, Inc. (MLMI) pursuant to a Mortgage Loan Purchase Agreement (the MLPA) dated November 1, 1999. The purchase price for the pool of loans was allegedly based on the...
"franchise" or "franchising" - "franchise" or "franchising"
LONG SLAND LIGHTING COMPANY v. CHESTNUT STATION, INC., 020515-09 (6-5-2012)
No. 020515-09
June 5, 2012
B. The Parties' History The parties' history is set forth in detail in a prior decision of the Court dated July 15, 2010 ("Prior Decision") (Ex. B to Duffy Aff. in Supp.) which addressed a prior motion filed by Plaintiff ("Prior Motion"). In the Prior Decision, the Court 1) granted Plaintiff's motion for a default judgment against Defendant Chestnut Station, Inc. ("CSI") on the fourth cause of action in the Complaint in the sum of $118,677.33, plus costs and attorney's fees to be determined at an ... As noted in the Prior Decision, CSI is a New York corporation that became inactive on or about July 29, 2009 due to dissolution by proclamation of the New York Department of State. Catanese was and continues to be President of SCI. Catanese, in his capacity as President of CSI, made a...
bankruptcy - bankruptcy
MORAN ENTERPRISES, INC. v. HURST, 2011-02198 (2d Dept 6-20-2012)
2011-02198
Decided on June 20, 2012
Ordered that the order is modified, on the law, (1) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 1 and 4, and substituting therefor a provision granting those branches of the motion, and (2) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 2, 3, 5, 7, 10, 12, 13, 14, and 15, and substituting therefor a provision granting ... DECISION ~amp~ ORDER The plaintiff, Moran Enterprises, Inc. (hereinafter MEI), retained attorney Margaret Hurst to represent it in certain matters, including filing a Chapter 11 petition for bankruptcy on its behalf. A few months later, Hurst left active practice and transferred her...
securities - securities
IN THE MATTER OF MIRAGLIA v. ESSEX INSURANCE COMPANY, 2010-12090 (2d Dept 6-20-2012)
2010-12090
Decided on June 20, 2012
DECISION ~amp~ ORDER A judgment creditor's ability to satisfy a judgment in his or her favor from assets that are not in the possession of the judgment debtor is governed by CPLR 5225. That statute "provides for an expedited special proceeding by a judgment creditor to recover money or other personal property' belonging to a judgment debtor against a person in possession or custody of money or other personal property in which the judgment debtor has an interest' in order to satisfy a judgment" (Matter ...
"franchise" or "franchising" - "franchise" or "franchising"
MORAN ENTERPRISES, INC. v. HURST, 2011-02198 (2d Dept 6-20-2012)
2011-02198
Decided on June 20, 2012
Ordered that the order is modified, on the law, (1) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 1 and 4, and substituting therefor a provision granting those branches of the motion, and (2) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 2, 3, 5, 7, 10, 12, 13, 14, and 15, and substituting therefor a provision granting ... DECISION ~amp~ ORDER The plaintiff, Moran Enterprises, Inc. (hereinafter MEI), retained attorney Margaret Hurst to represent it in certain matters, including filing a Chapter 11 petition for bankruptcy on its behalf. A few months later, Hurst left active practice and transferred her...
securities - securities
NINETEEN EIGHTY-NINE, LLC v. ICAHN, 7215 (1st Dept 6-21-2012)
7215, 7216
Decided on June 21, 2012
Order, Supreme Court, New York County (Eileen Bransten, J.), entered June 29, 2010 (Index 601265/07), which denied the parties' motions for summary judgment, unanimously modified, on the law, to grant defendants' motion as to the causes of action for breach of fiduciary duty, fraud, negligent misrepresentation and aiding and abetting breach of fiduciary duty and fraud, and to grant plaintiff's motion for summary judgment on the causes of action for breach of contract, and otherwise affirmed, without ...
securities - securities
BGC PARTNERS, INC. v. REFCO SECURITIES, LLC, 6624 (1st Dept 6-21-2012)
6624, 6625
Decided on June 21, 2012
Pursuant to the parties' "Master Software License, Maintenance and Service Agreement," defendant had the right to the use of certain software and equipment and to maintenance and support services, in exchange for the payment to plaintiff of an annual licensing fee and a monthly maintenance fee (the Fixed Fees). Defendant also agreed to share with plaintiff portions of any commissions it received as a result of trading activity by its clients. The Fixed Fees were required to be paid through the six-year ... Approximately four years into the term of the agreement, defendant ceased doing business, and ceased paying the Fixed Fees. Plaintiff negotiated new commission contracts, which did not include payment of the Fixed Fees, with former clients of defendant. After plaintiff...
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
WHITE v. FEE, 57828/11 (6-7-2012)
57828/11
Decided on June 7, 2012
Defendants Frank J. Fee, III ("Frank"), Kevin Fee ("Kevin") and Michael Fee ("Michael") and Frank in his role as Trustee of the Marital Deduction Trust and Residuary Trust (the "Fee Defendants") move pursuant to CPLR 3211(a)(7) and CPLR 3016(b) to dismiss the Verified Complaint ("Complaint") or, alternatively, to dismiss based on a prior action pending pursuant to CPLR 3211(a)(4) (Motion Seq. No.2). Defendant The Reliable Automatic Sprinkler Co., Inc. ("Reliable") joins in the Fee Defendants' motion (... With regard to Defendants' egregious conduct, Plaintiffs pose the rhetorical question ? "How much more egregious does it get then manipulating a dividend policy by eliminating it under the guise of hiring' your mother, then eliminating dividends to her and entirely to all other non-voting shareholders?"
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
KAHN v. RAN, 601288-11 (6-12-2012)
No. 601288-11
June 12, 2012
This matter is before the court on the motion filed by Defendants Assaf Ran, Mark Alhadeff, Phillip Michaels,[fn1] Michael Jackson, Eran Goldshmid, Lyron Bentovim and Manhattan Page 2 Bridge Capital, Inc. ("Defendants") on January 31, 2012 and submitted on May 4, 2012, following oral argument before the Court. For the reasons set forth below, the Court determines that the Complaint does not allege with adequate particularity the futility of a demand on the Board of Directors, but the Court will permit ... The Complaint alleges that on August 9, 2010, MBC filed a Schedule 14A with the Securities and Exchange Commission ("SEC") disclosing Defendants' authorization and recommendation to grant 1,000,000 restricted shares of MBC common stock to Defendant Assaf Ran ("Ran"), MBC's President and Chief Executive Officer ("CEO"),...
bankruptcy - bankruptcy
380 YORKTOWN FOOD CORP. v. 380 DOWNING DRIVE, LLC, 55188/11 (3-9-2012)
55188/11
Decided on March 9, 2012
Plaintiff, 380 Yorktown Food Corp. ("Plaintiff" or "Yorktown Food") moves, pursuant to CPLR 3212, for an order granting it summary judgment and a judgment declaring the rights, responsibilities and obligations of the parties with regard to a sublease entered into between Plaintiff and non-party The Great Atlantic ~amp~ Pacific Tea Company ("A ~amp~ P") concerning property located at 380 Downing Drive, Yorktown Heights, New York (the "Property") dated July 23, 1992 (the "Sublease"). Defendant 380 Downing... Based on the allegations of the Complaint, Plaintiff asserts that Defendant and A ~amp~ P entered into the Overlease for the Property on May 21, 1971 and on July 23, 1992, A ~amp~ P entered into the Sublease with Plaintiff (Affidavit of Joseph Friedman, sworn to September 2,...
bankruptcy - bankruptcy
GRIPPE v. SILVERITE CONSTRUCTION COMPANY, INC., 22354/10 (6-12-2012)
22354/10
June 12, 2012
RELIEF REQUESTED The third-party defendants, Airflex Industrial, Inc., and Airflex Corp., (hereinafter referred to as "Airflex"), move for an order pursuant to CPLR § 3025(b) permitting Airflex to amend its answer to include the defense of lack of capacity to sue, and for dismissal of plaintiff's complaint and the third-party action pursuant to CPLR § 3211(a)(3), CPLR § 3211(a)(5) and judicial estoppel. The defendant/third-party plaintiff, Silverite Construction Company, Inc., (hereinafter referred to ... APPLICABLE LAW A debtor is required to submit a schedule of assets and liabilities to the Bankruptcy Court, including "all pre-petition causes of action belonging to the debtor". (Meneses v. Long Island Railroad Co., 2009 US Dist. Lexis 20471). Such property includes "causes of action...
securities - securities
AMERICAN TRANSIT INSURANCE COMPANY v. CANO, 113160/2011 (6-13-2012)
113160/2011
June 13, 2012
DECSION AND ORDER Background By complaint dated November 16 th, 2011, Plaintiff American Transit Insurance Company seeks a declaratory judgment stating (1) Defendant Brian Cano is not an eligible injured person entitled to no-fault benefits under an insurance policy with the Plaintiff, (2) that Plaintiff is not required to provide, pay or honor any current or future claim for no-fault benefits under the Mandatory Personal Injury Protection endorsement under said insurance policy, and (3) that Plaintiff ...
securities - securities
KAHN v. RAN, 601288-11 (6-12-2012)
No. 601288-11
June 12, 2012
This matter is before the court on the motion filed by Defendants Assaf Ran, Mark Alhadeff, Phillip Michaels,[fn1] Michael Jackson, Eran Goldshmid, Lyron Bentovim and Manhattan Page 2 Bridge Capital, Inc. ("Defendants") on January 31, 2012 and submitted on May 4, 2012, following oral argument before the Court. For the reasons set forth below, the Court determines that the Complaint does not allege with adequate particularity the futility of a demand on the Board of Directors, but the Court will permit ... The Complaint alleges that on August 9, 2010, MBC filed a Schedule 14A with the Securities and Exchange Commission ("SEC") disclosing Defendants' authorization and recommendation to grant 1,000,000 restricted shares of MBC common stock to Defendant Assaf Ran ("Ran"), MBC's President and Chief Executive Officer ("CEO"),...
securities - securities
FIRST CARDINAL LLC v. VECTOR STRUCTURAL PRESERVATION CORP., 23217/10 (5-22-2012)
No. 23217/10
May 22, 2012
Defendant's President, Vassilios Handakas ("Handakas"), states as follows: (i) that defendant engaged ADP Insurance Services to calculate and pay premiums to plaintiff on a weekly basis; (ii) that plaintiff conducted an audit of defendant's operations and claimed that certain insurance certificates were missing and certain monies were due; and (iii) that defendant provided the insurance certificates and heard nothing further from plaintiff until it received a copy of the Property Execution obtained by ...
banking law - banking law
MATTER OF STANTON, 400-A-2006 (6-21-2012)
400-A-2006
Decided on June 21, 2012
In this SCPA 2103 proceeding the petitioning administrator, the decedent's daughter and sole distributee seeks, inter alia, an order pursuant to CPLR 6301 enjoining the respondent and Emigrant Savings Bank (Emigrant) from transferring or utilizing any funds which the decedent deposited in two separate Emigrant joint accounts with right of survivorship in his name and that of the respondent (see Banking Law § 675). The petitioner alleges that, shortly after the decedent's death, respondent closed the two... At the outset it is noted that although this court, in a May 6, 2011 order to show cause, granted a temporary restraining order with regard to the proceeds of the two Emigrant accounts, it declined to do so with regard to issues involving John Hancock Financial Annuities and, neither John Hancock nor...
banking law - banking law
MATTER OF NEILL, 2008-475/A (6-21-2012)
2008-475/A
Decided on June 21, 2012
FACTS Robert W. Neill ("Decedent") died on January 22, 2008 survived by a son, Eric Neill, a daughter, Carol Sherwood, and six grandchildren. The Decedent's Last Will and Testament, dated June 27, 2000 was admitted to probate, and Letters Testamentary were issued to his two children on March 3, 2008. The Will left each of the Decedent's six grandchildren $25,000.00, and named his two children equal residuary beneficiaries. Due to the Decedent's Alzheimer's disease and advanced dementia that ultimately ...
securities - securities
TSC INDUSTRIES, INC. v. NORTHWAY, INC., 426 U.S. 438 (U.S. 6-14-1976)
No. 74-1471
Argued March 3, 1976, Decided June 14, 1976 OCTOBER TERM, 1975
Rule 14a-9, promulgated under § 14 (a) of the Securities Exchange Act of 1934, provides that no proxy solicitation shall be made "which . . . is false or misleading with respect to any material fact, or which omits to state any material fact necessary in order to make the statements therein not false or misleading." The dispute in this case centers on the acquisition of petitioner TSC Industries (TSC) by petitioner National Industries (National). National purchased 34% of TSC's voting securities from ...
"franchise" or "franchising" - "franchise" or "franchising"
ARIZONA v. U.S., 11-182 (U.S. 6-25-2012)
No. 11-182
Argued April 25, 2012, Decided June 25, 2012 OCTOBER TERM, 2011
In any event, it is hard to see how state and local officers could proceed in conformity with the Federal Government's enforcement priorities without making an inquiry into a suspected alien's immigration status. For example, one of the Federal Government's highest priorities is the apprehension and removal of aliens who have failed to comply with a final order of removal. See App. 108. How can an officer identify those persons without first inquiring about their status? The United States' attack on § 2(B) is quite remarkable. The United States suggests that a state law may be preempted, not because it conflicts with a federal statute or regulation, but because it is inconsistent with a federal agency's current enforcement priorities. Those priorities, however, are not ...
bankruptcy - bankruptcy
STATE v. SHINNECOCK INDIAN NATION, 08-1194-cv (2nd Cir. 6-25-2012)
Nos. 08-1194-cv(L), 08-1195-cv(CON)
Decided: June 25, 2012
The Shinnecock Indian Nation and its tribal officials (collectively, the "Shinnecock" or the "Tribe") appeal from a Page 3 judgment of the United States District Court for the Eastern District of New York (Joseph F. Bianco, Judge). After a bench trial, the district court granted a permanent injunction prohibiting the Tribe from developing a casino on a plot of land known as Westwoods without complying with the laws of New York State and the Town of Southampton. The Shinnecock object to a number of the ...
"franchise" or "franchising" - "franchise" or "franchising"
STATE v. SHINNECOCK INDIAN NATION, 08-1194-cv (2nd Cir. 6-25-2012)
Nos. 08-1194-cv(L), 08-1195-cv(CON)
Decided: June 25, 2012
The Shinnecock Indian Nation and its tribal officials (collectively, the "Shinnecock" or the "Tribe") appeal from a Page 3 judgment of the United States District Court for the Eastern District of New York (Joseph F. Bianco, Judge). After a bench trial, the district court granted a permanent injunction prohibiting the Tribe from developing a casino on a plot of land known as Westwoods without complying with the laws of New York State and the Town of Southampton. The Shinnecock object to a number of the ...
securities - securities
J.P. MORGAN SECURITIES INC. v. VIGILANT INSURANCE COMPANY, 2012-477 (N.Y. 6-D-2012)
No. 2012-477
June 26, 2012
J.P. MORGAN SECURITIES INC. v. VIGILANT INSURANCE COMPANY, 2012-477 (N.Y. 6-D-2012) J.P. Morgan Securities Inc., et al., Appellants, v. Vigilant Insurance Court of Appeals of the State of New York. Motion for leave to appeal granted.
banking law - banking law
IN THE MATTER OF THE ESTATE OF NEILL, 2008-475/A (6-21-2012)
No. 2008-475/A
June 21, 2012
Decision ~amp~ Order FACTS Robert W. Neill ("Decedent") died on January 22, 2008 survived by a son, Eric Neill, a daughter, Carol Sherwood, and six grandchildren. The Decedent's Last Will and Testament, dated June 27, 2000 was admitted to probate, and Letters Testamentary were issued to his two children on March 3, 2008. The Will left each of the Decedent's six grandchildren $25,000.00, and named his two children equal residuary beneficiaries. Due to the Decedent's Alzheimer's disease and advanced ...
banking law - banking law
ASTORIA FEDERAL SAVINGS AND LOAN ASSN. v. RIGANO, 16575 (3-23-2012)
16575(T)-11
Decided on March 23, 2012
In this residential foreclosure action, Defendant homeowners Lawrence A. Rigano, Jr. and Liane F. Rigano brought a third-party action on December 19, 2011, against the mortgage brokers, Asset Center, Inc. and Francine Silberman Disesa, asserting that such Third Party Defendants engaged in predatory lending practices in violation of the Home Ownership and Equity Protection Act (see 15 USC §§ 1639, et seq.), the Truth in Lending Act (see 15 USC §§ 1601, et seq.), the Deceptive Practices Act (see General ...
bankruptcy - bankruptcy
NATIONAL FEDERATION OF INDEPENDENT BUSINESS v. SEBELIUS, 11-393 (U.S. 6-28-2012)
Nos. 11-393, 11-398 and, 11-400
Argued March 26, 27, 28, 2012, Decided June 28, 2012[fn*] OCTOBER TERM, 2011
Ultimately, the Court upholds the individual mandate as a proper exercise of Congress' power to tax and spend "for the . . . general Welfare of the United States." Art. I, § 8, cl. 1; ante, at 43-44. I concur in that determination, which makes THE CHIEF JUSTICE's Commerce Clause essay all the more puzzling. Why should THE CHIEF JUSTICE strive so mightily to hem in Congress' capacity to meet the new problems arising constantly in our ever-developing modern economy? Consider also that Congress could have repealed Medicaid. See supra, at 38-39 (citing 42 U. S. C. § 1304); Brief for Petitioners in No. 11-400, p. 41. Thereafter, Congress could have enacted Medicaid II, a new program combining the...
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
BRIDGE STREET HOMEOWNERS ASSOCIATION v. BRICK CONDOMINIUM DEVELOPERS, 26507/06 (1-23-2007)
26507/06
January 23, 2007
Upon the foregoing papers in this action by Bridge Street Homeowners Association (BSHA) and 37 individual residential unit owners of the Bridge No. 50 Condominium (Bridge Street Condominium) (collectively, plaintiffs) alleging 11 causes of action, 223 Water Street, LLC and Joshua Guttman a/k/a Joshua Gutman (Guttman) cross-move for an order: (1) pursuant to CPLR 3211 (a) (1), (3), and (7), and General Business Law § 352-e (1) (b), dismissing plaintiffs' complaint as against them, and (2) correcting ... -FACTS- In September 2003, 223 Water Street, LLC, the owner of a building located at 50 Bridge Street, in Brooklyn, New York, entered into a contract with Brick, pursuant to which Brick purchased the fourth, fifth, sixth, and penthouse floors of the building for...
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
LONG SLAND LIGHTING COMPANY v. CHESTNUT STATION, INC., 020515-09 (6-5-2012)
No. 020515-09
June 5, 2012
B. The Parties' History The parties' history is set forth in detail in a prior decision of the Court dated July 15, 2010 ("Prior Decision") (Ex. B to Duffy Aff. in Supp.) which addressed a prior motion filed by Plaintiff ("Prior Motion"). In the Prior Decision, the Court 1) granted Plaintiff's motion for a default judgment against Defendant Chestnut Station, Inc. ("CSI") on the fourth cause of action in the Complaint in the sum of $118,677.33, plus costs and attorney's fees to be determined at an ... As noted in the Prior Decision, CSI is a New York corporation that became inactive on or about July 29, 2009 due to dissolution by proclamation of the New York Department of State. Catanese was and continues to be President of SCI. Catanese, in his capacity as President of CSI, made a...
bankruptcy - bankruptcy
CIMERRING v. MERRILL LYNCH MORTGAGE INVESTORS, 8727/2011 (6-13-2012)
8727/2011
Decided on June 13, 2012
FACTS AND PROCEDURAL HISTORY The Lee Hall Loan Plaintiff Avram Cimerring (Cimerring)[fn1] and non-party Ran Nizan (Nizan) were the principals of Lee Hall LLC (Lee Hall), a company that sought financing for the purchase of four apartment complexes in Virginia (the mortgaged property). Cimerring and Nizan Page 2 executed a personal guaranty (the Guaranty) on a Deed of Trust note (the Note) in order for Lee Hall to obtain a $17.4 million commercial mortgage loan (the Lee Hall Loan) from Wexford Bancorp (... UBS then sold the Lee Hall Loan, as part of a pool of commercial mortgages, to Merrill Lynch Mortgage Investors, Inc. (MLMI) pursuant to a Mortgage Loan Purchase Agreement (the MLPA) dated November 1, 1999. The purchase price for the pool of loans was allegedly based on the...
securities - securities
CIMERRING v. MERRILL LYNCH MORTGAGE INVESTORS, 8727/2011 (6-13-2012)
8727/2011
Decided on June 13, 2012
FACTS AND PROCEDURAL HISTORY The Lee Hall Loan Plaintiff Avram Cimerring (Cimerring)[fn1] and non-party Ran Nizan (Nizan) were the principals of Lee Hall LLC (Lee Hall), a company that sought financing for the purchase of four apartment complexes in Virginia (the mortgaged property). Cimerring and Nizan Page 2 executed a personal guaranty (the Guaranty) on a Deed of Trust note (the Note) in order for Lee Hall to obtain a $17.4 million commercial mortgage loan (the Lee Hall Loan) from Wexford Bancorp (... UBS then sold the Lee Hall Loan, as part of a pool of commercial mortgages, to Merrill Lynch Mortgage Investors, Inc. (MLMI) pursuant to a Mortgage Loan Purchase Agreement (the MLPA) dated November 1, 1999. The purchase price for the pool of loans was allegedly based on the...
"franchise" or "franchising" - "franchise" or "franchising"
LONG SLAND LIGHTING COMPANY v. CHESTNUT STATION, INC., 020515-09 (6-5-2012)
No. 020515-09
June 5, 2012
B. The Parties' History The parties' history is set forth in detail in a prior decision of the Court dated July 15, 2010 ("Prior Decision") (Ex. B to Duffy Aff. in Supp.) which addressed a prior motion filed by Plaintiff ("Prior Motion"). In the Prior Decision, the Court 1) granted Plaintiff's motion for a default judgment against Defendant Chestnut Station, Inc. ("CSI") on the fourth cause of action in the Complaint in the sum of $118,677.33, plus costs and attorney's fees to be determined at an ... As noted in the Prior Decision, CSI is a New York corporation that became inactive on or about July 29, 2009 due to dissolution by proclamation of the New York Department of State. Catanese was and continues to be President of SCI. Catanese, in his capacity as President of CSI, made a...
bankruptcy - bankruptcy
MORAN ENTERPRISES, INC. v. HURST, 2011-02198 (2d Dept 6-20-2012)
2011-02198
Decided on June 20, 2012
Ordered that the order is modified, on the law, (1) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 1 and 4, and substituting therefor a provision granting those branches of the motion, and (2) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 2, 3, 5, 7, 10, 12, 13, 14, and 15, and substituting therefor a provision granting ... DECISION ~amp~ ORDER The plaintiff, Moran Enterprises, Inc. (hereinafter MEI), retained attorney Margaret Hurst to represent it in certain matters, including filing a Chapter 11 petition for bankruptcy on its behalf. A few months later, Hurst left active practice and transferred her...
securities - securities
IN THE MATTER OF MIRAGLIA v. ESSEX INSURANCE COMPANY, 2010-12090 (2d Dept 6-20-2012)
2010-12090
Decided on June 20, 2012
DECISION ~amp~ ORDER A judgment creditor's ability to satisfy a judgment in his or her favor from assets that are not in the possession of the judgment debtor is governed by CPLR 5225. That statute "provides for an expedited special proceeding by a judgment creditor to recover money or other personal property' belonging to a judgment debtor against a person in possession or custody of money or other personal property in which the judgment debtor has an interest' in order to satisfy a judgment" (Matter ...
"franchise" or "franchising" - "franchise" or "franchising"
MORAN ENTERPRISES, INC. v. HURST, 2011-02198 (2d Dept 6-20-2012)
2011-02198
Decided on June 20, 2012
Ordered that the order is modified, on the law, (1) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 1 and 4, and substituting therefor a provision granting those branches of the motion, and (2) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 2, 3, 5, 7, 10, 12, 13, 14, and 15, and substituting therefor a provision granting ... DECISION ~amp~ ORDER The plaintiff, Moran Enterprises, Inc. (hereinafter MEI), retained attorney Margaret Hurst to represent it in certain matters, including filing a Chapter 11 petition for bankruptcy on its behalf. A few months later, Hurst left active practice and transferred her...
securities - securities
NINETEEN EIGHTY-NINE, LLC v. ICAHN, 7215 (1st Dept 6-21-2012)
7215, 7216
Decided on June 21, 2012
Order, Supreme Court, New York County (Eileen Bransten, J.), entered June 29, 2010 (Index 601265/07), which denied the parties' motions for summary judgment, unanimously modified, on the law, to grant defendants' motion as to the causes of action for breach of fiduciary duty, fraud, negligent misrepresentation and aiding and abetting breach of fiduciary duty and fraud, and to grant plaintiff's motion for summary judgment on the causes of action for breach of contract, and otherwise affirmed, without ...
securities - securities
BGC PARTNERS, INC. v. REFCO SECURITIES, LLC, 6624 (1st Dept 6-21-2012)
6624, 6625
Decided on June 21, 2012
Pursuant to the parties' "Master Software License, Maintenance and Service Agreement," defendant had the right to the use of certain software and equipment and to maintenance and support services, in exchange for the payment to plaintiff of an annual licensing fee and a monthly maintenance fee (the Fixed Fees). Defendant also agreed to share with plaintiff portions of any commissions it received as a result of trading activity by its clients. The Fixed Fees were required to be paid through the six-year ... Approximately four years into the term of the agreement, defendant ceased doing business, and ceased paying the Fixed Fees. Plaintiff negotiated new commission contracts, which did not include payment of the Fixed Fees, with former clients of defendant. After plaintiff...
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
WHITE v. FEE, 57828/11 (6-7-2012)
57828/11
Decided on June 7, 2012
Defendants Frank J. Fee, III ("Frank"), Kevin Fee ("Kevin") and Michael Fee ("Michael") and Frank in his role as Trustee of the Marital Deduction Trust and Residuary Trust (the "Fee Defendants") move pursuant to CPLR 3211(a)(7) and CPLR 3016(b) to dismiss the Verified Complaint ("Complaint") or, alternatively, to dismiss based on a prior action pending pursuant to CPLR 3211(a)(4) (Motion Seq. No.2). Defendant The Reliable Automatic Sprinkler Co., Inc. ("Reliable") joins in the Fee Defendants' motion (... With regard to Defendants' egregious conduct, Plaintiffs pose the rhetorical question ? "How much more egregious does it get then manipulating a dividend policy by eliminating it under the guise of hiring' your mother, then eliminating dividends to her and entirely to all other non-voting shareholders?"
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
KAHN v. RAN, 601288-11 (6-12-2012)
No. 601288-11
June 12, 2012
This matter is before the court on the motion filed by Defendants Assaf Ran, Mark Alhadeff, Phillip Michaels,[fn1] Michael Jackson, Eran Goldshmid, Lyron Bentovim and Manhattan Page 2 Bridge Capital, Inc. ("Defendants") on January 31, 2012 and submitted on May 4, 2012, following oral argument before the Court. For the reasons set forth below, the Court determines that the Complaint does not allege with adequate particularity the futility of a demand on the Board of Directors, but the Court will permit ... The Complaint alleges that on August 9, 2010, MBC filed a Schedule 14A with the Securities and Exchange Commission ("SEC") disclosing Defendants' authorization and recommendation to grant 1,000,000 restricted shares of MBC common stock to Defendant Assaf Ran ("Ran"), MBC's President and Chief Executive Officer ("CEO"),...
bankruptcy - bankruptcy
380 YORKTOWN FOOD CORP. v. 380 DOWNING DRIVE, LLC, 55188/11 (3-9-2012)
55188/11
Decided on March 9, 2012
Plaintiff, 380 Yorktown Food Corp. ("Plaintiff" or "Yorktown Food") moves, pursuant to CPLR 3212, for an order granting it summary judgment and a judgment declaring the rights, responsibilities and obligations of the parties with regard to a sublease entered into between Plaintiff and non-party The Great Atlantic ~amp~ Pacific Tea Company ("A ~amp~ P") concerning property located at 380 Downing Drive, Yorktown Heights, New York (the "Property") dated July 23, 1992 (the "Sublease"). Defendant 380 Downing... Based on the allegations of the Complaint, Plaintiff asserts that Defendant and A ~amp~ P entered into the Overlease for the Property on May 21, 1971 and on July 23, 1992, A ~amp~ P entered into the Sublease with Plaintiff (Affidavit of Joseph Friedman, sworn to September 2,...
bankruptcy - bankruptcy
GRIPPE v. SILVERITE CONSTRUCTION COMPANY, INC., 22354/10 (6-12-2012)
22354/10
June 12, 2012
RELIEF REQUESTED The third-party defendants, Airflex Industrial, Inc., and Airflex Corp., (hereinafter referred to as "Airflex"), move for an order pursuant to CPLR § 3025(b) permitting Airflex to amend its answer to include the defense of lack of capacity to sue, and for dismissal of plaintiff's complaint and the third-party action pursuant to CPLR § 3211(a)(3), CPLR § 3211(a)(5) and judicial estoppel. The defendant/third-party plaintiff, Silverite Construction Company, Inc., (hereinafter referred to ... APPLICABLE LAW A debtor is required to submit a schedule of assets and liabilities to the Bankruptcy Court, including "all pre-petition causes of action belonging to the debtor". (Meneses v. Long Island Railroad Co., 2009 US Dist. Lexis 20471). Such property includes "causes of action...
securities - securities
AMERICAN TRANSIT INSURANCE COMPANY v. CANO, 113160/2011 (6-13-2012)
113160/2011
June 13, 2012
DECSION AND ORDER Background By complaint dated November 16 th, 2011, Plaintiff American Transit Insurance Company seeks a declaratory judgment stating (1) Defendant Brian Cano is not an eligible injured person entitled to no-fault benefits under an insurance policy with the Plaintiff, (2) that Plaintiff is not required to provide, pay or honor any current or future claim for no-fault benefits under the Mandatory Personal Injury Protection endorsement under said insurance policy, and (3) that Plaintiff ...
securities - securities
KAHN v. RAN, 601288-11 (6-12-2012)
No. 601288-11
June 12, 2012
This matter is before the court on the motion filed by Defendants Assaf Ran, Mark Alhadeff, Phillip Michaels,[fn1] Michael Jackson, Eran Goldshmid, Lyron Bentovim and Manhattan Page 2 Bridge Capital, Inc. ("Defendants") on January 31, 2012 and submitted on May 4, 2012, following oral argument before the Court. For the reasons set forth below, the Court determines that the Complaint does not allege with adequate particularity the futility of a demand on the Board of Directors, but the Court will permit ... The Complaint alleges that on August 9, 2010, MBC filed a Schedule 14A with the Securities and Exchange Commission ("SEC") disclosing Defendants' authorization and recommendation to grant 1,000,000 restricted shares of MBC common stock to Defendant Assaf Ran ("Ran"), MBC's President and Chief Executive Officer ("CEO"),...
securities - securities
FIRST CARDINAL LLC v. VECTOR STRUCTURAL PRESERVATION CORP., 23217/10 (5-22-2012)
No. 23217/10
May 22, 2012
Defendant's President, Vassilios Handakas ("Handakas"), states as follows: (i) that defendant engaged ADP Insurance Services to calculate and pay premiums to plaintiff on a weekly basis; (ii) that plaintiff conducted an audit of defendant's operations and claimed that certain insurance certificates were missing and certain monies were due; and (iii) that defendant provided the insurance certificates and heard nothing further from plaintiff until it received a copy of the Property Execution obtained by ...
banking law - banking law
MATTER OF STANTON, 400-A-2006 (6-21-2012)
400-A-2006
Decided on June 21, 2012
In this SCPA 2103 proceeding the petitioning administrator, the decedent's daughter and sole distributee seeks, inter alia, an order pursuant to CPLR 6301 enjoining the respondent and Emigrant Savings Bank (Emigrant) from transferring or utilizing any funds which the decedent deposited in two separate Emigrant joint accounts with right of survivorship in his name and that of the respondent (see Banking Law § 675). The petitioner alleges that, shortly after the decedent's death, respondent closed the two... At the outset it is noted that although this court, in a May 6, 2011 order to show cause, granted a temporary restraining order with regard to the proceeds of the two Emigrant accounts, it declined to do so with regard to issues involving John Hancock Financial Annuities and, neither John Hancock nor...
banking law - banking law
MATTER OF NEILL, 2008-475/A (6-21-2012)
2008-475/A
Decided on June 21, 2012
FACTS Robert W. Neill ("Decedent") died on January 22, 2008 survived by a son, Eric Neill, a daughter, Carol Sherwood, and six grandchildren. The Decedent's Last Will and Testament, dated June 27, 2000 was admitted to probate, and Letters Testamentary were issued to his two children on March 3, 2008. The Will left each of the Decedent's six grandchildren $25,000.00, and named his two children equal residuary beneficiaries. Due to the Decedent's Alzheimer's disease and advanced dementia that ultimately ...
securities - securities
TSC INDUSTRIES, INC. v. NORTHWAY, INC., 426 U.S. 438 (U.S. 6-14-1976)
No. 74-1471
Argued March 3, 1976, Decided June 14, 1976 OCTOBER TERM, 1975
Rule 14a-9, promulgated under § 14 (a) of the Securities Exchange Act of 1934, provides that no proxy solicitation shall be made "which . . . is false or misleading with respect to any material fact, or which omits to state any material fact necessary in order to make the statements therein not false or misleading." The dispute in this case centers on the acquisition of petitioner TSC Industries (TSC) by petitioner National Industries (National). National purchased 34% of TSC's voting securities from ...
"franchise" or "franchising" - "franchise" or "franchising"
ARIZONA v. U.S., 11-182 (U.S. 6-25-2012)
No. 11-182
Argued April 25, 2012, Decided June 25, 2012 OCTOBER TERM, 2011
In any event, it is hard to see how state and local officers could proceed in conformity with the Federal Government's enforcement priorities without making an inquiry into a suspected alien's immigration status. For example, one of the Federal Government's highest priorities is the apprehension and removal of aliens who have failed to comply with a final order of removal. See App. 108. How can an officer identify those persons without first inquiring about their status? The United States' attack on § 2(B) is quite remarkable. The United States suggests that a state law may be preempted, not because it conflicts with a federal statute or regulation, but because it is inconsistent with a federal agency's current enforcement priorities. Those priorities, however, are not ...
bankruptcy - bankruptcy
STATE v. SHINNECOCK INDIAN NATION, 08-1194-cv (2nd Cir. 6-25-2012)
Nos. 08-1194-cv(L), 08-1195-cv(CON)
Decided: June 25, 2012
The Shinnecock Indian Nation and its tribal officials (collectively, the "Shinnecock" or the "Tribe") appeal from a Page 3 judgment of the United States District Court for the Eastern District of New York (Joseph F. Bianco, Judge). After a bench trial, the district court granted a permanent injunction prohibiting the Tribe from developing a casino on a plot of land known as Westwoods without complying with the laws of New York State and the Town of Southampton. The Shinnecock object to a number of the ...
"franchise" or "franchising" - "franchise" or "franchising"
STATE v. SHINNECOCK INDIAN NATION, 08-1194-cv (2nd Cir. 6-25-2012)
Nos. 08-1194-cv(L), 08-1195-cv(CON)
Decided: June 25, 2012
The Shinnecock Indian Nation and its tribal officials (collectively, the "Shinnecock" or the "Tribe") appeal from a Page 3 judgment of the United States District Court for the Eastern District of New York (Joseph F. Bianco, Judge). After a bench trial, the district court granted a permanent injunction prohibiting the Tribe from developing a casino on a plot of land known as Westwoods without complying with the laws of New York State and the Town of Southampton. The Shinnecock object to a number of the ...
securities - securities
J.P. MORGAN SECURITIES INC. v. VIGILANT INSURANCE COMPANY, 2012-477 (N.Y. 6-D-2012)
No. 2012-477
June 26, 2012
J.P. MORGAN SECURITIES INC. v. VIGILANT INSURANCE COMPANY, 2012-477 (N.Y. 6-D-2012) J.P. Morgan Securities Inc., et al., Appellants, v. Vigilant Insurance Court of Appeals of the State of New York. Motion for leave to appeal granted.
banking law - banking law
IN THE MATTER OF THE ESTATE OF NEILL, 2008-475/A (6-21-2012)
No. 2008-475/A
June 21, 2012
Decision ~amp~ Order FACTS Robert W. Neill ("Decedent") died on January 22, 2008 survived by a son, Eric Neill, a daughter, Carol Sherwood, and six grandchildren. The Decedent's Last Will and Testament, dated June 27, 2000 was admitted to probate, and Letters Testamentary were issued to his two children on March 3, 2008. The Will left each of the Decedent's six grandchildren $25,000.00, and named his two children equal residuary beneficiaries. Due to the Decedent's Alzheimer's disease and advanced ...
banking law - banking law
ASTORIA FEDERAL SAVINGS AND LOAN ASSN. v. RIGANO, 16575 (3-23-2012)
16575(T)-11
Decided on March 23, 2012
In this residential foreclosure action, Defendant homeowners Lawrence A. Rigano, Jr. and Liane F. Rigano brought a third-party action on December 19, 2011, against the mortgage brokers, Asset Center, Inc. and Francine Silberman Disesa, asserting that such Third Party Defendants engaged in predatory lending practices in violation of the Home Ownership and Equity Protection Act (see 15 USC §§ 1639, et seq.), the Truth in Lending Act (see 15 USC §§ 1601, et seq.), the Deceptive Practices Act (see General ...
bankruptcy - bankruptcy
NATIONAL FEDERATION OF INDEPENDENT BUSINESS v. SEBELIUS, 11-393 (U.S. 6-28-2012)
Nos. 11-393, 11-398 and, 11-400
Argued March 26, 27, 28, 2012, Decided June 28, 2012[fn*] OCTOBER TERM, 2011
Ultimately, the Court upholds the individual mandate as a proper exercise of Congress' power to tax and spend "for the . . . general Welfare of the United States." Art. I, § 8, cl. 1; ante, at 43-44. I concur in that determination, which makes THE CHIEF JUSTICE's Commerce Clause essay all the more puzzling. Why should THE CHIEF JUSTICE strive so mightily to hem in Congress' capacity to meet the new problems arising constantly in our ever-developing modern economy? Consider also that Congress could have repealed Medicaid. See supra, at 38-39 (citing 42 U. S. C. § 1304); Brief for Petitioners in No. 11-400, p. 41. Thereafter, Congress could have enacted Medicaid II, a new program combining the...
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
BRIDGE STREET HOMEOWNERS ASSOCIATION v. BRICK CONDOMINIUM DEVELOPERS, 26507/06 (1-23-2007)
26507/06
January 23, 2007
Upon the foregoing papers in this action by Bridge Street Homeowners Association (BSHA) and 37 individual residential unit owners of the Bridge No. 50 Condominium (Bridge Street Condominium) (collectively, plaintiffs) alleging 11 causes of action, 223 Water Street, LLC and Joshua Guttman a/k/a Joshua Gutman (Guttman) cross-move for an order: (1) pursuant to CPLR 3211 (a) (1), (3), and (7), and General Business Law § 352-e (1) (b), dismissing plaintiffs' complaint as against them, and (2) correcting ... -FACTS- In September 2003, 223 Water Street, LLC, the owner of a building located at 50 Bridge Street, in Brooklyn, New York, entered into a contract with Brick, pursuant to which Brick purchased the fourth, fifth, sixth, and penthouse floors of the building for...
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
LONG SLAND LIGHTING COMPANY v. CHESTNUT STATION, INC., 020515-09 (6-5-2012)
No. 020515-09
June 5, 2012
B. The Parties' History The parties' history is set forth in detail in a prior decision of the Court dated July 15, 2010 ("Prior Decision") (Ex. B to Duffy Aff. in Supp.) which addressed a prior motion filed by Plaintiff ("Prior Motion"). In the Prior Decision, the Court 1) granted Plaintiff's motion for a default judgment against Defendant Chestnut Station, Inc. ("CSI") on the fourth cause of action in the Complaint in the sum of $118,677.33, plus costs and attorney's fees to be determined at an ... As noted in the Prior Decision, CSI is a New York corporation that became inactive on or about July 29, 2009 due to dissolution by proclamation of the New York Department of State. Catanese was and continues to be President of SCI. Catanese, in his capacity as President of CSI, made a...
bankruptcy - bankruptcy
CIMERRING v. MERRILL LYNCH MORTGAGE INVESTORS, 8727/2011 (6-13-2012)
8727/2011
Decided on June 13, 2012
FACTS AND PROCEDURAL HISTORY The Lee Hall Loan Plaintiff Avram Cimerring (Cimerring)[fn1] and non-party Ran Nizan (Nizan) were the principals of Lee Hall LLC (Lee Hall), a company that sought financing for the purchase of four apartment complexes in Virginia (the mortgaged property). Cimerring and Nizan Page 2 executed a personal guaranty (the Guaranty) on a Deed of Trust note (the Note) in order for Lee Hall to obtain a $17.4 million commercial mortgage loan (the Lee Hall Loan) from Wexford Bancorp (... UBS then sold the Lee Hall Loan, as part of a pool of commercial mortgages, to Merrill Lynch Mortgage Investors, Inc. (MLMI) pursuant to a Mortgage Loan Purchase Agreement (the MLPA) dated November 1, 1999. The purchase price for the pool of loans was allegedly based on the...
securities - securities
CIMERRING v. MERRILL LYNCH MORTGAGE INVESTORS, 8727/2011 (6-13-2012)
8727/2011
Decided on June 13, 2012
FACTS AND PROCEDURAL HISTORY The Lee Hall Loan Plaintiff Avram Cimerring (Cimerring)[fn1] and non-party Ran Nizan (Nizan) were the principals of Lee Hall LLC (Lee Hall), a company that sought financing for the purchase of four apartment complexes in Virginia (the mortgaged property). Cimerring and Nizan Page 2 executed a personal guaranty (the Guaranty) on a Deed of Trust note (the Note) in order for Lee Hall to obtain a $17.4 million commercial mortgage loan (the Lee Hall Loan) from Wexford Bancorp (... UBS then sold the Lee Hall Loan, as part of a pool of commercial mortgages, to Merrill Lynch Mortgage Investors, Inc. (MLMI) pursuant to a Mortgage Loan Purchase Agreement (the MLPA) dated November 1, 1999. The purchase price for the pool of loans was allegedly based on the...
"franchise" or "franchising" - "franchise" or "franchising"
LONG SLAND LIGHTING COMPANY v. CHESTNUT STATION, INC., 020515-09 (6-5-2012)
No. 020515-09
June 5, 2012
B. The Parties' History The parties' history is set forth in detail in a prior decision of the Court dated July 15, 2010 ("Prior Decision") (Ex. B to Duffy Aff. in Supp.) which addressed a prior motion filed by Plaintiff ("Prior Motion"). In the Prior Decision, the Court 1) granted Plaintiff's motion for a default judgment against Defendant Chestnut Station, Inc. ("CSI") on the fourth cause of action in the Complaint in the sum of $118,677.33, plus costs and attorney's fees to be determined at an ... As noted in the Prior Decision, CSI is a New York corporation that became inactive on or about July 29, 2009 due to dissolution by proclamation of the New York Department of State. Catanese was and continues to be President of SCI. Catanese, in his capacity as President of CSI, made a...
bankruptcy - bankruptcy
MORAN ENTERPRISES, INC. v. HURST, 2011-02198 (2d Dept 6-20-2012)
2011-02198
Decided on June 20, 2012
Ordered that the order is modified, on the law, (1) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 1 and 4, and substituting therefor a provision granting those branches of the motion, and (2) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 2, 3, 5, 7, 10, 12, 13, 14, and 15, and substituting therefor a provision granting ... DECISION ~amp~ ORDER The plaintiff, Moran Enterprises, Inc. (hereinafter MEI), retained attorney Margaret Hurst to represent it in certain matters, including filing a Chapter 11 petition for bankruptcy on its behalf. A few months later, Hurst left active practice and transferred her...
securities - securities
IN THE MATTER OF MIRAGLIA v. ESSEX INSURANCE COMPANY, 2010-12090 (2d Dept 6-20-2012)
2010-12090
Decided on June 20, 2012
DECISION ~amp~ ORDER A judgment creditor's ability to satisfy a judgment in his or her favor from assets that are not in the possession of the judgment debtor is governed by CPLR 5225. That statute "provides for an expedited special proceeding by a judgment creditor to recover money or other personal property' belonging to a judgment debtor against a person in possession or custody of money or other personal property in which the judgment debtor has an interest' in order to satisfy a judgment" (Matter ...
"franchise" or "franchising" - "franchise" or "franchising"
MORAN ENTERPRISES, INC. v. HURST, 2011-02198 (2d Dept 6-20-2012)
2011-02198
Decided on June 20, 2012
Ordered that the order is modified, on the law, (1) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 1 and 4, and substituting therefor a provision granting those branches of the motion, and (2) by deleting the provision thereof denying those branches of the plaintiff's motion which were to dismiss the affirmative defenses numbered 2, 3, 5, 7, 10, 12, 13, 14, and 15, and substituting therefor a provision granting ... DECISION ~amp~ ORDER The plaintiff, Moran Enterprises, Inc. (hereinafter MEI), retained attorney Margaret Hurst to represent it in certain matters, including filing a Chapter 11 petition for bankruptcy on its behalf. A few months later, Hurst left active practice and transferred her...
securities - securities
NINETEEN EIGHTY-NINE, LLC v. ICAHN, 7215 (1st Dept 6-21-2012)
7215, 7216
Decided on June 21, 2012
Order, Supreme Court, New York County (Eileen Bransten, J.), entered June 29, 2010 (Index 601265/07), which denied the parties' motions for summary judgment, unanimously modified, on the law, to grant defendants' motion as to the causes of action for breach of fiduciary duty, fraud, negligent misrepresentation and aiding and abetting breach of fiduciary duty and fraud, and to grant plaintiff's motion for summary judgment on the causes of action for breach of contract, and otherwise affirmed, without ...
securities - securities
BGC PARTNERS, INC. v. REFCO SECURITIES, LLC, 6624 (1st Dept 6-21-2012)
6624, 6625
Decided on June 21, 2012
Pursuant to the parties' "Master Software License, Maintenance and Service Agreement," defendant had the right to the use of certain software and equipment and to maintenance and support services, in exchange for the payment to plaintiff of an annual licensing fee and a monthly maintenance fee (the Fixed Fees). Defendant also agreed to share with plaintiff portions of any commissions it received as a result of trading activity by its clients. The Fixed Fees were required to be paid through the six-year ... Approximately four years into the term of the agreement, defendant ceased doing business, and ceased paying the Fixed Fees. Plaintiff negotiated new commission contracts, which did not include payment of the Fixed Fees, with former clients of defendant. After plaintiff...
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
WHITE v. FEE, 57828/11 (6-7-2012)
57828/11
Decided on June 7, 2012
Defendants Frank J. Fee, III ("Frank"), Kevin Fee ("Kevin") and Michael Fee ("Michael") and Frank in his role as Trustee of the Marital Deduction Trust and Residuary Trust (the "Fee Defendants") move pursuant to CPLR 3211(a)(7) and CPLR 3016(b) to dismiss the Verified Complaint ("Complaint") or, alternatively, to dismiss based on a prior action pending pursuant to CPLR 3211(a)(4) (Motion Seq. No.2). Defendant The Reliable Automatic Sprinkler Co., Inc. ("Reliable") joins in the Fee Defendants' motion (... With regard to Defendants' egregious conduct, Plaintiffs pose the rhetorical question ? "How much more egregious does it get then manipulating a dividend policy by eliminating it under the guise of hiring' your mother, then eliminating dividends to her and entirely to all other non-voting shareholders?"
"business corporation law" or "limited liability company law" - "business corporation law" or "limited liability company law"
KAHN v. RAN, 601288-11 (6-12-2012)
No. 601288-11
June 12, 2012
This matter is before the court on the motion filed by Defendants Assaf Ran, Mark Alhadeff, Phillip Michaels,[fn1] Michael Jackson, Eran Goldshmid, Lyron Bentovim and Manhattan Page 2 Bridge Capital, Inc. ("Defendants") on January 31, 2012 and submitted on May 4, 2012, following oral argument before the Court. For the reasons set forth below, the Court determines that the Complaint does not allege with adequate particularity the futility of a demand on the Board of Directors, but the Court will permit ... The Complaint alleges that on August 9, 2010, MBC filed a Schedule 14A with the Securities and Exchange Commission ("SEC") disclosing Defendants' authorization and recommendation to grant 1,000,000 restricted shares of MBC common stock to Defendant Assaf Ran ("Ran"), MBC's President and Chief Executive Officer ("CEO"),...
bankruptcy - bankruptcy
380 YORKTOWN FOOD CORP. v. 380 DOWNING DRIVE, LLC, 55188/11 (3-9-2012)
55188/11
Decided on March 9, 2012
Plaintiff, 380 Yorktown Food Corp. ("Plaintiff" or "Yorktown Food") moves, pursuant to CPLR 3212, for an order granting it summary judgment and a judgment declaring the rights, responsibilities and obligations of the parties with regard to a sublease entered into between Plaintiff and non-party The Great Atlantic ~amp~ Pacific Tea Company ("A ~amp~ P") concerning property located at 380 Downing Drive, Yorktown Heights, New York (the "Property") dated July 23, 1992 (the "Sublease"). Defendant 380 Downing... Based on the allegations of the Complaint, Plaintiff asserts that Defendant and A ~amp~ P entered into the Overlease for the Property on May 21, 1971 and on July 23, 1992, A ~amp~ P entered into the Sublease with Plaintiff (Affidavit of Joseph Friedman, sworn to September 2,...
bankruptcy - bankruptcy
GRIPPE v. SILVERITE CONSTRUCTION COMPANY, INC., 22354/10 (6-12-2012)
22354/10
June 12, 2012
RELIEF REQUESTED The third-party defendants, Airflex Industrial, Inc., and Airflex Corp., (hereinafter referred to as "Airflex"), move for an order pursuant to CPLR § 3025(b) permitting Airflex to amend its answer to include the defense of lack of capacity to sue, and for dismissal of plaintiff's complaint and the third-party action pursuant to CPLR § 3211(a)(3), CPLR § 3211(a)(5) and judicial estoppel. The defendant/third-party plaintiff, Silverite Construction Company, Inc., (hereinafter referred to ... APPLICABLE LAW A debtor is required to submit a schedule of assets and liabilities to the Bankruptcy Court, including "all pre-petition causes of action belonging to the debtor". (Meneses v. Long Island Railroad Co., 2009 US Dist. Lexis 20471). Such property includes "causes of action...
securities - securities
AMERICAN TRANSIT INSURANCE COMPANY v. CANO, 113160/2011 (6-13-2012)
113160/2011
June 13, 2012
DECSION AND ORDER Background By complaint dated November 16 th, 2011, Plaintiff American Transit Insurance Company seeks a declaratory judgment stating (1) Defendant Brian Cano is not an eligible injured person entitled to no-fault benefits under an insurance policy with the Plaintiff, (2) that Plaintiff is not required to provide, pay or honor any current or future claim for no-fault benefits under the Mandatory Personal Injury Protection endorsement under said insurance policy, and (3) that Plaintiff ...
securities - securities
KAHN v. RAN, 601288-11 (6-12-2012)
No. 601288-11
June 12, 2012
This matter is before the court on the motion filed by Defendants Assaf Ran, Mark Alhadeff, Phillip Michaels,[fn1] Michael Jackson, Eran Goldshmid, Lyron Bentovim and Manhattan Page 2 Bridge Capital, Inc. ("Defendants") on January 31, 2012 and submitted on May 4, 2012, following oral argument before the Court. For the reasons set forth below, the Court determines that the Complaint does not allege with adequate particularity the futility of a demand on the Board of Directors, but the Court will permit ... The Complaint alleges that on August 9, 2010, MBC filed a Schedule 14A with the Securities and Exchange Commission ("SEC") disclosing Defendants' authorization and recommendation to grant 1,000,000 restricted shares of MBC common stock to Defendant Assaf Ran ("Ran"), MBC's President and Chief Executive Officer ("CEO"),...
securities - securities
FIRST CARDINAL LLC v. VECTOR STRUCTURAL PRESERVATION CORP., 23217/10 (5-22-2012)
No. 23217/10
May 22, 2012
Defendant's President, Vassilios Handakas ("Handakas"), states as follows: (i) that defendant engaged ADP Insurance Services to calculate and pay premiums to plaintiff on a weekly basis; (ii) that plaintiff conducted an audit of defendant's operations and claimed that certain insurance certificates were missing and certain monies were due; and (iii) that defendant provided the insurance certificates and heard nothing further from plaintiff until it received a copy of the Property Execution obtained by ...
banking law - banking law
MATTER OF STANTON, 400-A-2006 (6-21-2012)
400-A-2006
Decided on June 21, 2012
In this SCPA 2103 proceeding the petitioning administrator, the decedent's daughter and sole distributee seeks, inter alia, an order pursuant to CPLR 6301 enjoining the respondent and Emigrant Savings Bank (Emigrant) from transferring or utilizing any funds which the decedent deposited in two separate Emigrant joint accounts with right of survivorship in his name and that of the respondent (see Banking Law § 675). The petitioner alleges that, shortly after the decedent's death, respondent closed the two... At the outset it is noted that although this court, in a May 6, 2011 order to show cause, granted a temporary restraining order with regard to the proceeds of the two Emigrant accounts, it declined to do so with regard to issues involving John Hancock Financial Annuities and, neither John Hancock nor...
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