New York Panel Rules that Indemnification Clauses of Contracts Must


New York Panel Rules that Indemnification Clauses of Contracts Must Meet the "Exacting" Test to Entitle a Prevailing Party to Attorney's Fees.

A recent decision by the Appellate Division of the First Department of New York will have a reverberating effect on how indemnification language will be negotiated and drafted in New York contracts and undoubtedly influence a party's choice as to whether to pursue costly litigation. Read this alert to learn more about the decision and its ramifications.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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