- News & Publications
- Radio Drama Network Obtains Injunction Prohibiting Former Director From Interfering With Bank Accounts and Other Financial Assets
Radio Drama Network Obtains Injunction Prohibiting Former Director From Interfering With Bank Accounts and Other Financial Assets
On November 14, 2019, Supreme Court Commercial Division Justice Andrea Masley ruled from the bench to grant the preliminary injunction sought by our client, Radio Drama Network, enjoining former director Richard L. Kay from interfering with Radio Drama Network’s bank accounts and other financial assets, during the pendency of Radio Drama Network’s lawsuit against Kay for breach of fiduciary duty, tortious interference, and related claims.
Radio Drama Network’s board stripped Kay of all official roles, including bank account signatory, after the Surrogate’s Court ruled on July 15, 2019 that Radio Drama Network had stated timely, viable claims sounding in fraud against Kay and that its $100 million claim against Kay could proceed in that court. [Read more about that case here.] After his removal as bank account signatory, Kay’s counsel wrote to Radio Drama Network’s banks and financial advisors and instructed them not to follow the instructions of Radio Drama Network absent a court order. Kay then blocked payment of the salary of Radio Drama Network’s president and the payment of legal invoices for Radio Drama Network’s lawsuit against him. On November 14, Justice Masley held that Kay cited no legal authority for his claim to be financial account signatory, that Radio Drama Network had demonstrated irreparable harm as a result of Kay’s obstruction, and held that Radio Drama Network had demonstrated a likelihood of success on its tortious interference claim.
Carter Ledyard attorneys Pamela A. Mann, Gary D. Sesser, and Judith M. Wallace represent Radio Drama Network. Jacob Nemon, Jeremy Steckel and Sarah Ganley assisted on the briefs. Judith Wallace argued the motion.
For more from the New York Law Journal, click here.
Carter Ledyard assisted client RADA Electronic Industries Ltd., a global defense technology company, with its $25 million public offering. Steve Glusband and Guy Ben-Ami advised RADA in this transaction.
Carter Ledyard is pleased to announce the promotions of Alex Malyshev to partner, Mike Bauscher to counsel, and Guy Ben-Ami to counsel, effective January 1, 2020.
Nick Tapert and Chris helped client RIS NYC LLC win the dismissal of an Article 78 petition against the client and co-respondent New York City involving the City’s award of an important parking and parking enforcement…
On September 27th, Carter Ledyard client Global SC Finance VI SRL completed a $155,000,000 secured term loan financing with various lenders.
In collaboration with Safe Passage Project Inc., Carter Ledyard will work pro-bono to help ensure that no minors appear in U.S. Immigration Court to face removal proceedings without an attorney.
Designed to showcase those in the New York Metropolitan area exhibiting excellence in the practice of law, thirty five Carter Ledyard attorneys were named to this year's list.
Writing for the New York Law Journal, partner Steve Kass outlines a 15-point plan for the next U.S. Administration to help curb the calamity of the climate crisis through both climate mitigation and adaptation.
Carter Ledyard successfully obtained dismissal of all federal claims brought against merchant cash advance client Capital Stack, LLC, in a federal court action asserting several causes of action.
M. Dunn & M. Erwin stress executive and boardroom awareness and oversight of cybersecurity risk mitigation, outline several best practices for officers and directors, and summarize recent legal and regulatory developments.
Aaron Cahn explains the importance of the U.S. Bankruptcy Code as a resource for businesses in financial distress, but cites various cases of the denial of that resource being available to cannabis-related ones.
Surrogate Nora Anderson rejected an attempt to dismiss the Petition of our client Radio Drama Network, to invalidate testamentary instruments that deprived it of a $100 million bequest from its founder Himan Brown.
Our new blog delivers news and commentary on the unique issues facing the nonprofit sector. For more information, and to subscribe, visit teobulletin.com.
Known as the “Tombs Angel,” Ms. Foster was a volunteer in the court’s criminal justice system who devoted much of her adult life to serving imprisoned New Yorkers.
The NY Supreme Court dismissed all claims against Carter Ledyard clients Fox Capital Group Inc., and Commonwealth Merchant Advance Inc.
Karen's article identifies portability as a useful estate planning tool, but suggests it is no substitute for thoughtful estate planning.