RECENT STATE COURT DECISIONS

September 2005

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New York Supreme Court Holds that Disclaimer Bars Fraudulent Inducement/Concealment Claims
Bank of New York v. Bram Manufacturing Corp., et al.,

The Supreme Court of New York has granted summary judgment to the Bank of New York, finding that the language of disclaimer in the guarantee barred any assertion of fraudulent inducement/concealment by the defendants; the bank was under no duty to conduct an environmental investigation under these facts and could not be liable for concealment or fraudulent inducement; and the bank was not liable under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), because it did not foreclose on the property nor was it involved in the property’s management.