Section 13-101 - Transfer of claims

1 Citing brief

  1. Commonwealth of Pennsylvania Public School Employees' Retirement System,, et al., Plaintiffs, Commerzbank AG,, Appellant,v.Morgan Stanley & Co., Incorporated, et al., Respondents, et al., Defendants.

    Brief

    Filed November 17, 2014

    Id.; see also Banque Arabe Et Internationale D’Investissement v. Maryland Nat’l Bank, 57 F.3d 146, 153 (2d Cir. 1995) (noting New York’s general trend toward adopting principles of free assignability of claims, “including those of fraud”); see also N.Y. Gen. Oblig. Law §13-101 (New York legislature mandates, with certain exceptions not applicable here, that “[a]ny claim or demand can be transferred” between parties).30 When such a transfer occurs, “the transfer thereof passes an 30 The inapplicable exceptions include (i) the transfer of “damages for a personal injury,” (ii) a grant or a claim of real property – either of which has been made void by state statute, and (iii) when a transfer is “expressly forbidden” by statute or would contravene public policy. See N.Y. Gen. Oblig. Law §13-101(1.-3.).