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posted 9 years ago
Effective June 2, 2014, New York’s Commercial Division has adopted new
rules that are consistent with New York’s efforts to provide a hospitable
environment for businesses to timely and efficiently resolve their
disputes.
The new Rule 9 permits parties to a commercial disputes exceeding
certain monetary thresholds (e.g., $500,000 in New York County) to include
contract specific accelerated adjudication procedure language and ensure
that the parties are ready for a trial within nine months of a request for
judicial intervention. Contracting parties can expressly consent to a Rule
9 accelerated action by including contractual language such as:
Subject to the requirements for a case to be heard in the Commercial
Division, the parties agree to submit to the exclusive jurisdiction of
the Commercial Division, New York State Supreme Court and to the
application of the Court’s accelerated procedures, in connection with
any dispute, claim or controversy arising out of or relating to this
agreement, or the breach, termination, enforcement or validity
thereof.In an accelerated action, the parties irrevocably waive:
(1) objections based on lack of personal jurisdiction or forum
non conveniens;
(2) the right to trial by jury;
(3) the
right to recover punitive or exemplary damages;
(4) the right to an
interlocutory appeal; and
(5) the right to extensive discovery.
Discovery rules are also streamlined. Absent agreement, there are to be
no more than seven interrogatories, five requests to admit, and seven
discovery depositions per side not to exceed seven hours in length.
At least since 1995, with the creation of Commercial Division courts,
New York has sought to elevate its standing as an attractive location for
businesses to litigate claims. For example, parties can utilize New York
law or a New York forum, if, at the time of contracting, they incorporate
New York General Obligation Law § 5-1401 (for contracts of value greater
than $250,000 New York Law can be chosen despite the contract having no
connection to New York) or § 5-1402 (same result with respect to a New
York forum if the contract is over $1 million). And now, New York hopes
that businesses will be even more likely to set-up shop in the state with
an accelerated adjudication model meant to save time and money.
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