Court of Appeals of New York

A default judgment entered against the individual defendants personally, in an action against defendant-individuals and their offshore personal holding companies and corporations, alleging that defendants engaged in high-risk investment activities through their accounts resulting in a net deficient balance of over $68 million, is vacated and remanded, where the lower court abused its discretion with respect to the grant of a default judgment against the individuals because the penalty imposed was not commensurate with the alleged disobedience, i.e., the failure to produce documents that plaintiff claimed were in the individuals' possession with respect to the defendant entities.

Appellate Information

• Decided 10/10/2013
• Published 10/10/2013

Judges

Court

• Court of Appeals of New York

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