FINDLAW: Daily Opinion Summaries for New York Court of Appeals – 6/04/09

BANKING LAW, SECURITIES LAW

Koehler v. Bank of Bermuda Ltd., No. 82
The Court of Appeals answered a certified question from the U.S. Court of Appeals for the Second Circuit as follows: A court sitting in New York may order a bank over which it has personal jurisdiction to deliver stock certificates owned by a judgment debtor (or cash equal to their value) to a judgment creditor, pursuant to CPLR article 52, when those stock certificates are located outside New York.

FAMILY LAW, INJURY AND TORT LAW, PROBATE, TRUSTS & ESTATES

Sargiss v. Magarelli, No. 93
In an action against the estate of Plaintiff’s ex-husband claiming that the decedent misrepresented his assets in a prior divorce proceeding, the dismissal of the complaint is reversed, where the statute of limitations was tolled prior to Plaintiff’s discovery of the alleged fraud.

GOVERNMENT BENEFITS, GOVERNMENT LAW

Callahan v. Carey, No. 68
In a motion seeking access to city homeless shelter eviction notices pursuant to a consent decree requiring Plaintiffs to be granted “access to any records relevant to enforcement and monitoring of the decree,” judgment for Defendants is reversed, where the notices were conceivably relevant to the monitoring of the decree.

INJURY AND TORT LAW, SECURITIES LAW

Eurycleia Ptnrs., LP v. Seward & Kissel, LLP, No. 88
In a fraud action against counsel for a failed hedge fund for failure to disclose certain information, dismissal of the complaint is affirmed, where neither Plaintiffs’ allegations nor the circumstances gave rise to a reasonable inference that Defendant participated in a scheme to defraud or knew about the falsity of the contested statements.

INSURANCE LAW, TRANSPORTATION

Allstate Ins. Co. v. Rivera, No. 89
In an action seeking arbitration regarding insurance proceeds under supplementary uninsured motorists’ coverage (SUM), judgment staying the arbitration is affirmed where insureds can never use a SUM endorsement to obtain a greater recovery for themselves than is provided under the policy to third parties injured by the insureds.