Judge Dismisses Kickback-Related Suit Against Swiss Bank

null A New York state judge has dismissed a $350 million lawsuit filed by Saudi Arabian citizens against a private Swiss bank that used a New York correspondent bank to receive funds allegedly connected to an extensive bribery scheme.


Summer of Rule Changes in the Commercial Division

null Lisa Gerson writes: The past four months have seen the most changes to the Commercial Division rules of any year since the initial adoption of Section 202.70 in 2006. These changes include amendments to the jurisdictional requirements, changes to procedure, and additions to rules of discovery.

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Presented by Big Voodoo
  • Rasheed Al Rushaid v. Pictet & Cie – Scarpulla dismisses $350M breach of fiduciary action, holding plaintiffs failed to establish New York jurisdiction through foreign bank's receipt of funds via correspondent U.S. bank account (Justice Saliann Scarpulla)
    September 2, 05:30 PM EDT
  • Sumitomo Mitsui Banking v. Credit Suisse – Sherwood grants Credit Suisse's summary judgment motion, finding the parties' refinance of a troubled bridge loan entitled plaintiff to only its pro rata share of distribution under the secured debt and not additional cash disbursements (Justice O. Peter Sherwood)
    August 22, 07:59 PM EDT
  • Robyn Asimov v. Trident Media Group – Kornreich dismisses breach of contract complaint brought by co-executors of estate of author Isaac Asimov against literary service agency (Justice Shirley Werner Kornreich)
    August 22, 07:51 PM EDT
  • James L. Melcher v. Greenberg Traurig – Sherwood denies plaintiff's request to substitute as plaintiff a shell entity, ruling that the substitution would be prejudicial to the defendant as the plaintiff would be insulated from the litigation (Justice O. Peter Sherwood)
    August 22, 07:49 PM EDT
Case Motions
  • Oribe Canales v. Oribe Hair Care – Defendant luxury hair care brand moves to dismiss motion to interpret settlement agreement as nonjusticiable advisory opinion in action seeking declaratory relief related to participation in reality television show (O'Hare Parnagian et al) (Justice Saliann Scarpulla)
    September 2, 02:36 PM EDT
  • IMAX Corporation v. Essel Group – IMAX moves in support of amended petition pursuant to Article 53 to domesticate Canadian judgment confirming ICC arbitration award of $15M default judgment (Kelley Drye & Warren) (Justice Saliann Scarpulla)
    September 2, 01:38 PM EDT
  • NY ICE v. Charles Wang – Defendants sellers of NHL team New York Islanders move to change venue to Nassau County, asserting New York County is not proper venue (Kaye Scholer) (Justice Saliann Scarpulla)
    September 2, 01:35 PM EDT
  • Home Equity Mortgage Trust Series 2006-1 v. DLJ Mortgage Capital – DLJ moves for a stay of court's July 16 decision pending determination of DLJ's motion for leave to renew opposition to plaintiff's motion to compel production of documents (Orrick, Herrington & Sutcliffe) (Justice Melvin L. Schweitzer)
    September 2, 01:33 PM EDT