ARTICLE
16 February 2014

Monetary Threshold For Commencing Cases In Manhattan’s Commercial Division Raised To $500,000

SM
Sheppard Mullin Richter & Hampton

Contributor

Sheppard Mullin is a full service Global 100 firm with over 1,000 attorneys in 16 offices located in the United States, Europe and Asia. Since 1927, companies have turned to Sheppard Mullin to handle corporate and technology matters, high stakes litigation and complex financial transactions. In the US, the firm’s clients include more than half of the Fortune 100.
New York court officials have approved an amendment to Section 202.70(a) of the Commercial Division Rules, which will increase in the minimum monetary threshold of $150,000 to $500,000 for the commencement of lawsuits to be adjudicated in Manhattan’s Commercial Division.
United States Corporate/Commercial Law

New York court officials have approved an amendment to Section 202.70(a) of the Commercial Division Rules, which will increase in the minimum monetary threshold of $150,000 to $500,000 for the commencement of lawsuits to be adjudicated in Manhattan's Commercial Division. The Commercial Division handles complicated commercial cases as part of the Supreme Court of New York State. The new rule is effective February 17, 2014.

The increase arises from one of the proposals set forth in Chief Judge Jonathan Lippman's June 2012 Task Force Report on Commercial Litigation in the 21st Century. Supreme Court Justice O. Peter Sherwood, who co-chaired the group that led the study on this issue stated that a "disproportionately large number of cases" in the Commercial Division ultimately involve smaller amounts and "cases have become more complex, causing the number of motions filed between 2008 and 2012 to nearly double." The increase, which is the first since 2009, is expected to reduce the Commercial Division docket size in Manhattan by roughly 20 percent.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See More Popular Content From

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More