A choice-of-law clause is a contractual provision that selects a law to govern the contract. These clauses facilitate settlement by identifying the law that will be applied to resolve future disputes, thereby allowing the parties to more accurately assess the strength of potential claims. They also reduce the costs of litigation by making it unnecessary for a court to conduct a choice-of-law analysis.
On February 20, 2024, the New York Court of Appeals handed down its opinion in Petróleos de Venezuela S.A. v. MUFG Union Bank, N.A. The issue presented—which I described in a previous post as the billion-dollar choice-of-law question—was whether a court sitting in New York should apply the law of New York or the law…Continue Reading
On February 21, 2024, the U.S. Supreme Court handed down its decision in Great Lakes Insurance SE v. Raiders Retreat Realty Company, LLC. The question presented was whether, under federal admiralty law, a choice-of-law clause in a maritime contract can be rendered unenforceable if enforcement is contrary to the “strong public policy” of the state…Continue Reading
On January 10, 2024, the New York Court of Appeals heard oral arguments in Petroleos de Venezuela S.A. v. MUFG Union Bank, N.A. The issue presented in this case, as previously discussed here and here and here, is whether a U.S. court should apply the law of New York or the law of Venezuela to…Continue Reading