Breach of Contract Action
In Diesel Props. S.r.l. v. Greystone Bus. Cred. II LLC, No. 09-3899, an action for breach of contract, unjust enrichment, and account stated, the court affirmed in part the dismissal of plaintiff's claims and partial judgment for defendant where plaintiff failed to prove the causation element of its claim against defendant for breach of the agreement's notice provisions. However, the court reversed in part where plaintiff had a contractual right to receive the order book at issue at the relevant time, and that right was superior to defendant's security interest.
As the court wrote: "Plaintiffs Diesel Props S.r.l. ("Props") and Diesel Kid S.r.l. ("Kid") (collectively "Diesel") appeal from a judgment entered in the United States District Court for the Southern District of New York following a bench trial before Harold Baer, Jr., Judge, (a) dismissing their claims against defendants Greystone Business Credit II LLC ("Greystone") and Global Brand Marketing Inc. ("GBMI"), and (b) ordering Props to pay Greystone $677,381.93 in damages, including interest, on its counterclaim for unjust enrichment."
- Read the Second Circuit's Decision in Diesel Props. S.r.l. v. Greystone Bus. Cred. II LLC, No. 09-3899