You searched for: "Indemnification and Advancement"
Search Results
April 19, 2024
Court Finds Action For Indemnification Premature Where Agreement Lacked An Advancement Clause And No Covered Payment Had Yet Been Made
On March 11, 2024, Justice Joel M. Cohen granted a motion to dismiss Plaintiff’s claim for breach of a contractual duty to indemnify litigation expenses the Plaintiff had paid in connection with ongoing litigation in Oklahoma and the bankruptcy of its subsidiary. In SBN FCCG, LLC v. Fog Cutter Capital Group, Inc., Index No. 650197/2023, Plaintiff contended the Defendant was obligated to pay Plaintiff’s litigation expenses based on a contractual indemnification clause. The Court rejected the claim as premature, however, finding that the contract contained no advancement clause that might mandate coverage of ongoing litigation expenses before the ultimate resolution of the case. The Court also concluded that a settlement in the subsidiary’s bankruptcy had explicitly disclaimed existence of the criteria needed to trigger indemnification of litigation expenses. As to the ongoing Oklahoma litigation expenses, the Court explained: Read More
December 7, 2022
Court Grants Company’s Motion To Deny COO Indemnification
In a Decision and Order, dated November 7, 2022, in Iconix Brand Group v. Horowitz., Index No. 650726/2022, Justice Barry R. Ostrager granted, in significant part, plaintiff’s motion for a declaration that it is not required to indemnify its former COO for any fees incurred in connection with criminal and SEC investigations arising out of financial and accounting issues that arose while defendant was the COO of plaintiff. The Court explained: Read More
November 14, 2022
Owners' Domination and Abuse of Entity to Perpetrate a Wrong or Injustice on Plaintiffs Sufficient to Pierce Corporate Veil
On November 2, 2022, the Second Department issued a decision in F&R Goldfish Corp. v. Furleiter, 2022 N.Y. Slip Op. 06112, holding that plaintiffs alleged facts sufficient to pierce the corporate veil, explaining: Read More
October 31, 2022
Fee Shifting Between Partners Denied Without “Unmistakably Clear” Language of Intent
In a decision dated October 20, 2022, in Sage Systems, Inc. v. Liss, 2022 NY Slip Op 05918, the New York Court of Appeals reversed the Appellate Division and rejected plaintiff’s argument that a broad, unrestrictive indemnification provision in the partnership agreement entitled it to attorney’s fees related to direct claims between the partners. The Court explained: Read More
June 17, 2022
Contractual Obligation to Maintain Insurance and Indemnify Party Demonstrates It Was Intended Beneficiary of Contract
On March 29, 2022, in Board of Mgrs. of the St. Tropez Condominium v. JMA Consultants, Inc., INDEX NO. 656079/2018, Third-Party Index No. 596075/2019, Justice Andrew Borrok of the New York County Commercial Division denied those portions of third party defendant contractor’s motion to dismiss the amended third party complaint alleging breach of contract and contractual indemnification because the contractual language is clear that the third party plaintiff architect/engineer was an intended beneficiary of the contract. Read More
June 1, 2021
Common Law Indemnification Claim Dismissed Because Party Seeking Indemnification Allegedly Participated in the Wrong-Doing
On May 12, 2021, Justice Borrok of the New York County Commercial Division issued a decision in Boar… Read More
May 9, 2021
Common Law Indemnification Claim Fails When the Putative Indemnitee Settles its Claims
On April 19, 2021, Justice Borrok of the New York County Commercial Division issued a decision in Bo… Read More
January 12, 2021
Court Finds Defendant Bound by Indemnification Provision
On December 23, 2020, Justice Cohen of the New York County Commercial Division issued a decision in … Read More
December 6, 2020
Corporate Officers Granted Indemnification Under BCL
On November 25, 2020, the Second Department issued a decision in Federico v. Brancato, 2020 NY Slip … Read More
November 18, 2020
No Entitlement to Indemnification or Advancement In Suit Between Contracting Parties Unless Indemnification Provision Unequivocally Requires It
On November 05, 2020, the First Department issued a decision in Shatz v. Chertok, 2020 NY Slip Op. 0… Read More
October 13, 2020
Court Enforces Contract Provision Granting Prevailing Party Double its Attorneys' Fees
On September 30, 2020, the Second Department issued a decision in Loughlin v. Meghji, 2020 NY Slip O… Read More
June 23, 2020
Trust Entitled to Fees in RMBS Put-Back Action Based on Representation and Warranty Breaches
On May 25, 2020, Justice Friedman of the New York County Commercial Division issued a decision in Pa… Read More
May 13, 2020
Party Whose Liability Was Only Vicarious Entitled to Common Law Indemnification
On April 20, 2020, Justice Cohen of the New York County Commercial Division issued a decision in Sha… Read More
May 5, 2020
Litigant Not Entitled to Indemnification by Contractual Counter-Party Because Contract Was Not Unmistakably Clear
On April 17, 2020, Justice Borrok of the New York County Commercial Division issued a decision in Hu… Read More
April 17, 2020
Existence of Contract Bars Claim for Equitable Indemnification
On April 13, 2020, Justice Borrok of the New York County Commercial Division issued a decision in Al… Read More
January 3, 2020
Defendant that Engaged in Wrongdoing Not Entitled to Common Law Indemnification
On December 20, 2019, the Fourth Department issued a decision in Board of Educ. of Palmyra-Macedon C… Read More
August 9, 2019
Indemnification Provision Insufficiently Specific to Support Claim in Action Between Contracting Parties
On July 29, 2019, Justice Scarpulla of the New York County Commercial Division issued a decision in … Read More
July 1, 2019
Failure to Give Required Notice Doomed Indemnification Claim
On June 24, 2019, Justice Risi of the Queens County Commercial Division issued a decision in Quantum… Read More
June 11, 2019
Public Policy Does Not Bar Indemnification for Prior Criminal Acts
On June 3, 2019, Justice Ostrager of the New York County Commercial Division issued a decision in Ar… Read More
March 19, 2019
Common Law Indemnification Claims Dismissed For Lack of Vicarious Liability or Fault
On March 1, 2019, Justice Ostrager of the New York County Commercial Division issued a decision in … Read More
December 15, 2018
Common-Law Indemnification Unavailable to Defendant Seeking a Recovery for its Own Wrongdoing
On November 30, 2018, Justice Sherwood of the New York County Commercial division issued a decision … Read More
October 12, 2018
Court Rejects Claims for Common Law Indemnification and Contribution
On September 25, 2018, Justice Friedman of the New York County Commercial Division issued a decision… Read More
April 9, 2018
Claim for Common Law Indemnification Must Be Based on an Agent's Negligence, Not Breach of Contract
On March 29, 2018, Justice Kornreich of the New York County Commercial Division issued a decision in… Read More
January 22, 2018
Corporate Officer Failed to Make Factual Showing Required to Receive Advancement for Defense of Criminal
On January 18, 2018, the Third Department issued a decision in Kaloyeros v. Fort Schuyler Mgt. Corp.… Read More
September 25, 2017
Veil Piercing Claim Not Incompatible with Indemnification Claim
On September 7, 2017, Justice Emerson of the Suffolk County Commercial Division issued a decision in… Read More
September 16, 2017
Indemnification Provision Applies to Litigation Between Parties
On September 5, 2017, Justice Sherwood of the New York County Commercial Division issued a decision … Read More
August 4, 2017
Request for Indemnification Under BCL Denied on Procedural Grounds
On July 13, 2017, Justice Emerson of the Suffolk County Commercial Division issued a decision in Fed… Read More
November 21, 2016
Failure to Give Notice and Opportunity to Defend Fatal to Indemnification Claim
On November 17, 2016, the First Department issued a decision in Conergics Corp. v. Dearborn Mid-West… Read More
June 9, 2016
Surety Awarded Summary Judgment Against Bonded Party
On May 25, 2016, Justice Singh of the New York County Commercial Division issued a decision and orde… Read More
January 12, 2016
Defendant Entitled to Indemnification by Former Employer, Including for Counterclaims
On January 7, 2016, the First Department issued a decision in G2 Fmv, LLC v. Thomas, 2016 NY Slip Op… Read More
December 25, 2015
Indemnitee Must Prove that Indemnitor Could Have Been Liable at Trial to Recover Settlement
On December 16, 2015, the Second Department issued a decision in Leon Holdings, LLC v. Northville In… Read More
December 15, 2015
Right To Corporate Indemnification Must Be "Unmistakably Clear"
On December 2, 2015, Justice Kornreich of the New York County Commercial Division issued a decision … Read More
June 25, 2015
Settling Party Not Entitled to Contribution from Co-Defendants
On June 18, 2015, the First Department issued a decision in Diversified Group, Inc. v. Marcum & Klie… Read More
September 6, 2014
Insured Must Act Promptly to get Advancement of Defense Costs; Past Defense Costs Need not be Paid until any Coverage Litigation is Resolved
On August 27, 2014, Justice Kornreich of the New York County Commercial Division issued a decision i… Read More
August 5, 2014
Corporate Officer Awarded Advancement of Fees
On July 24, 2014, Justice Demarest of the Kings County Commercial Division issued a decision in Gene… Read More
July 16, 2014
Court Lacks Power to Remove LLC Member
On July 9, 2014, Justice Schweitzer of the New York County Commercial Division issued a decision in … Read More
July 5, 2014
Specific Indemnification Provision Trumps General One
On June 24, 2014, the First Department issued a decision in Plymouth Financial Co., Inc. v. Plymouth… Read More
May 17, 2014
Prevailing Plaintiff in Derivative Action Entitled to Fees, But From Corporation, Not Defendant
On April 2, 2014, Justice Emerson of the Suffolk County Commercial Division issued a decision in Mot… Read More
May 16, 2014
Derivative Plaintiff Entitled to Advancement of Attorneys’ Fees to Defend Counterclaims Brought by Corporation
On May 14, 2014, Justice DeStefano of the Nassau County Commercial Division issued a decision in Sch… Read More
March 28, 2014
Defendant Whose CPLR 3220 Offer Was Rejected is Entitled to Her Attorneys' Fees Related to Proving Damages From Time of Offer
On March 27, 2014, the First Department issued a decision in Abreu v. Barkin & Associates Realt… Read More
December 25, 2013
Attorneys' Fees Award Limited Because Plaintiff Did Not Prevail on All Arguments
On December 24, 2013, the First Department issued a decision in RSB Bedford Assoc. LLC v. Ricky's W… Read More
November 18, 2013
First Department Affirms Enforcement of Contractual Obligations to Advance Litigation Expenses
On November 14, 2013, the First Department issued a decision in TMR Bayhead Securities, LLC v. Aegi… Read More
