From the April issue: When a New York real estate deal goes south or a partnership sours, chances are good that someone is going to court. And if the stakes are high enough, there’s a strong likelihood that the case will end up in the Commercial Division of the New York Supreme Court in Manhattan.
Indeed, the judges that rule in these parts have some serious decision-making power when it comes to big-ticket New York City real estate cases.
But while litigious real estate players fill out much of their dockets, commercial judges hear an impressively wide range of cases (recent suits include big-box retailers fighting over Martha Stewart-brand bath towels and the pop star Kesha seeking to cut ties with hit record producer Dr. Luke).
The division, which is housed at 60 Centre Street, less than a mile from Wall Street, is where spats over billions of dollars in securities were first heard when markets crashed during the Great Recession.
“They have a tremendous caseload,” said defense attorney Stuart Slotnick, who referred to the Commercial Division as the “crown jewel” of The Supreme Court system. “They frequently have what we call ‘bet the farm’ cases — high-dollar cases.”
To be eligible for the commercial division, a suit must carry a price tag of at least $500,000 — a number that’s gone up considerably over the years. Because of the dollar thresho上海贵族宝贝论坛 ld, as well as the experience these judges have with high-stakes cases, many litigants check off the “commercial” box when filin[……]