NEW RULE ON ACCELERATED ADJUDICATION PROCEDURES IN NEW YORK STATE COURTS

摘要

New York has recently adopted a new Rule of Practice for the Commercial Division (22NYCRR §202.70(g)) (Rule 9; bit. ly/lokztc4 and see box) relating to the use of "accelerated adjudication procedures," which will take effect on June 2, 2014. The new Rule 9 allows the parties to any commercial dispute exceeding $500,000 to resolve their dispute more expeditiously and cost effectively by including in their contract specific accelerated adjudication procedure language: "Subject to the requirements for a case to be heard in the Commercial Division, the parties agree to submit to the exclusive jurisdiction of the Commercial Division, New York State Supreme Court and to the application of the Court's accelerated procedures, in connection with any dispute, claim or controversy arising out of or relating to this agreement, or the breach, termination, enforcement or validity thereof."