In AriZona Beverages USA, LLC v. Evercore, Inc., (Sup. Ct., Nassau Cnty,. Aug. 27, 2024) (Index #608480/2024), the Court held that a merger and acquisitions intermediary (which was acting as a broker between a prospective seller and prospective buyers) breached a confidentiality clause that was in a contract between the seller...
Category: Court Orders
When the tail wags the dog . . . Accountants have a fiduciary duty to their clients (sometimes)
In Gerzog v. Goldfarb, 206 A.D.3d 554, 171 N.Y.S.3d 477, 2022 N.Y. Slip Op. 4120 (N.Y. App. Div. 2022), the Court found that an accountant owes a fiduciary duty to a client if the accountant knew of and concealed illegal acts and diversions of funds by one partner of the client (partnership)...
Summary judgment in lieu of complaint (per CPLR 3213) is not appropriate for a guaranty that requires payment and performance.
In Bank of America, N.A. v. Filho (N.Y. Sup. Ct. Index No. 654603/2019), the Court held that CPLR 3213 allows summary judgment in lieu of complaint only if the claim is based on instruments for the payment of money only. Thus, an instrument, such as a personal guarantee...