Arkin Solbakken LLP Obtains Win on Liability in Breach of Contract Case

Sep 6, 2023

Arkin Solbakken LLP won summary judgment on liability in the Supreme Court of New York on behalf of its client Daiwa Corporate Advisory LLC, in the action styled Daiwa Corporate Advisory LLC v. Katapult Group, Inc., Index No. 652164/2021 (Sup. Ct. N.Y. County 2021). In September 2023, the Supreme Court agreed that Katapult breached a “right of first refusal” provision of the parties’ agreement by retaining another financial advisor without giving Daiwa the opportunity to exercise its “right of first refusal.”  In reaching this conclusion, the Supreme Court rejected Katapult’s argument that the “right of first refusal” was too indefinite to be enforceable and is merely an agreement to agree.  Daiwa was represented by Lisa C. Solbakken and Deana Davidian of Arkin Solbakken LLP.