New York’s Highest Court Addresses Choice of Law Provisions

December 18, 2012

The New York Court of Appeals issued a decision in IRB Brasil Resseguros, S.A. v. Inepar Investments, S.A., holding that “parties are not required to expressly exclude New York conflict-of-laws principles in their choice-of-law provision in order to avail themselves of New York substantive law.”  The Court noted that the goal of the relevant New York statute — General Obligations Law § 5-1401 — is “to promote and preserve New York’s status as a commercial center and to maintain predictability for the parties.”

Read the full opinion (PDF)