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To embed, copy and paste the code into your website or blog: Can the purchasers of promissory notes containing non-New York forum-selection clauses enforce the notes in the Commercial Division?  Not without an extraordinary showing as to why the clauses should be set aside, according to Commercial Division Justice Elizabeth Emerson’s recent decision in Stein v. United Wind, Inc.[1]  In Stein, Justice Emerson granted a motion to dismiss an action to enforce promissory notes where the notes designated Delaware as the exclusive forum for any disputes arising in connection with the notes.  Background The dispute in Stein arose from defendant United Wind’s efforts to raise additional funds for its wind-energy development and leasing operations.  In 2017, plaintiffs Howard and Cathy Stein (the “Steins”), and Jeremy Tark (“Tark”) entered into subscription agreements and purchased convertible promissory notes.  The Steins invested $75,000 and Tark invested $100,000.

New yorkUnited statesState of delawareJeremy tarkJustice emersonRussell tencerUnited wind incEnforcement of the forumDivision justice elizabeth emersonPatterson belknap webb tylerPatterson belknap webbCommercial division justice elizabeth emersonUnited windCathy steinEocycle technologiesJoint entity