Court of Appeals Grants Leave to Appeal in Case Regarding Application of Res Judicata to Unasserted Compulsory Counterclaims in Prior Federal Action

On November 22, 2016, the Court of Appeals granted leave to appeal in Paramount Pictures Corp. v. Allianz Risk Transfer AG. The First Department’s decision, which we blogged about here, held that a claim that should have been, but was not, brought as a compulsory counterclaim in a federal court action was barred by the doctrine of res judicata under New York law.