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Court Finds No “At-Issue” Waiver of the Attorney-Client Privilege in Complex Note Transaction Case
It is well settled that communications between an attorney and a client for the purpose of obtaining legal advice are privileged and not discoverable unless the privilege is deemed to have been waived by the client. Veras Inv. Partners, LLC v. Akin Gump Strauss Hauer & Feld LLP , 52 A.D.3d 370, 374 (1st Dept. 2008) (citing Jakobleff v. Cerrato, Sweeney & Cohn , 97 A.D.2d 834, 835 (2d Dept. 1983)). A client who voluntarily testifies to a privileged matter, who publicly disclo
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Feb 10, 20215 min read
Related Entities Not “Necessary” to Pending Litigation For Intervention Purposes
Last month, this Blog examined Shilon v. New Upreal LLC , 2021 N.Y. Slip Op. 30146(U) (Sup. Ct., Kings County Jan. 11, 2021), a case involving a motion by a nonparty to intervene in the litigation. ( Here .) Today, we look at 1467 Bedford Holdings LLC v. Spitzer , 2021 N.Y. Slip Op. 30302(U) (Sup. Ct., Kings County Feb. 1, 2021) ( here ), a case involving intervention as of right under CPLR §1012(a)(2). Under CPLR §1012(a)(2), a party may intervene as a matter of right “when
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Feb 8, 20213 min read
PRETEXTUAL DE-ACCELERATION OF MORTGAGE DEBT
Freedom=">Freedom" Mortgage="Mortgage" Corp.="Corp." v.="v." Engel,="Engel</a>," in="in" which="which" it,="it," inter="<u>inter" alia ,="alia</u>," expressly="expressly" rejected="rejected" “pretextual="“pretextual" de-acceleration”="de-acceleration”" theory. ="theory. " This="This" BLOG’s="BLOG’s" treatment="treatment" Freedom ="<u>Freedom</u>" can="can" be="be" found="found" > here .="><em>here</em></a>."> This Blog has written extensively on issues related to residen
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Feb 5, 20215 min read
The Partnership That Wasn’t and The Motion to Compel Arbitration
We have noted previously that the “policy of to encourage arbitration.” See Smith Barney Shearson Inc. v. Sacharow , 91 N.Y.2d 39 (1997). For this reason, “ ny doubts as to whether an issue is arbitrable will be resolved in favor of arbitration.” State of New York v. Philip Morris Inc. , 30 A.D.3d 26, 31 (1st Dept. 2006), aff’d , 8 N.Y.3d 574 (2007)). This is especially so where the agreement to arbitrate incorporates rules that explicitly authorize the arbitrator to resolve
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Feb 3, 20215 min read
Enforcement News: SEC Charges Entertainment Company and Affiliated Individuals with Illegal Boiler Room Tactics in Connection With $14 Million Offering
“Boiler room” brokerage firms are investment houses in which a broker uses high-pressure sales tactics to sell speculative and risky securities. A broker using boiler-room tactics provides customers – usually persons who received a cold call from the broker – with only positive information about the company and its stock. Boiler-room brokers typically tell customers that a stock is “a sure thing” or a “can’t miss, once in a lifetime” opportunity. Boiler-room brokers pressure
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Feb 1, 20214 min read
THE COVID-19 EMERGENCY EVICTION AND FORECLOSURE PREVENTION ACT OF 2020 (EFFECTIVE DECEMBER 28, 2020) PROVIDES SIGNIFICANT PROTECTIONS TO, AMONG OTHERS, RESIDENTIAL MORTGAGORS SUFFERING FINANCIAL HA...
In late December 2020, Governor Cuomo signed into law the “COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020” (the “Act”), which has an effective date of December 28, 2020. While the Act covers certain residential eviction proceedings and tax lien foreclosures too, this BLOG will focus on the provisions of the Act that relate to residential mortgage foreclosures. A copy of the bookmarked December 31, 2020, memorandum from Chief Administrative Judge Lawrence
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Jan 29, 20214 min read
Conveyance to Extinguish an Antecedent Debt Held Not to Be Fraudulent Under (Old) DCL § 273-a
DCL § 273-a (conveyances by defendants) provides that a conveyance made without fair consideration by a defendant in an action for money damages is fraudulent as to the plaintiff in that action, regardless of intent, if the defendant fails to satisfy a resulting judgment in the action. Fair consideration encompasses two components: “whether the amount given for the transferred property was a ‘fair equivalent’ or not ‘disproportionately small’” and “whether the transaction ma
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Jan 27, 20214 min read
Intervention Permitted Where Questions of Law and Fact are Shared with A Party in A Pending Litigation
A client calls up an attorney and describes a situation in which two parties are litigating an issue that the client maintains she has interest in. She wants to be sure that her interests are not adversely affected by the outcome of that litigation. She asks the lawyer what she can do. The answer (for purposes of today’s article): intervene in the action. Intervention is a procedure by which a nonparty may join a pending litigation. In New York, intervention is governed by CP
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Jan 25, 20214 min read
THE APPELLATE DIVISION, SECOND DEPARTMENT, ADDRESSES BUYER’S SPECIFIC PERFORMANCE CLAIM UNDER A REAL ESTATE CONTRACT IN THE FACE OF SELLER’S INABILITY TO CONVEY GOOD TITLE
In one of our BLOGS from last week, we addressed the remedy of specific performance in breached real estate contracts < HERE =">HERE</a>"> . The BLOG noted that, under certain circumstances when monetary damages are insufficient to make one of the parties whole after a breach, the equitable remedy of specific performance may be available to require the breaching party to perform. On January 20, 2021, the Appellate Division, Second Department, decided W Equities Acquisitions
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Jan 22, 20215 min read
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