Dynamic Currency Conversion Wins Case on Summary Judgment
August 11, 2010

Kelley Drye obtained a significant victory for its clients Dynamic Currency Conversion, Inc. ("Dynamic"), Dynamic's President, David Nahor, and Mark Silverman, one of Dynamic's employees, in a lawsuit commenced by two of Dynamic's competitors. The Plaintiffs alleged that Dynamic tortiously interfered with a contract between the Plaintiffs and a third-party under which the parties agreed to work together to provide a financial service to credit card merchants that allows credit card holders to have transactions processed in their home currency when traveling abroad. The Plaintiffs asserted that Dynamic prevented the third-party from performing under the contract with Plaintiffs by entering into its own contract with the third-party that, according to Plaintiffs, had terms that were inconsistent with the third-party's contractual obligations to Plaintiffs. In April 2009, the trial court granted defendants' motion for summary judgment and dismissed the tortious interference claims. The trial court held, among other things, that "there is no evidence . . . that Dynamic did anything to induce [the third party] not to comply with its obligations under the [contract] with the plaintiffs." The trial court also held that Mr. Silverman, who was employed by the third-party when the alleged interference occurred, could not be liable to the Plaintiffs for his employer's alleged breach of contract because he was authorized by his employer to enter into the agreement and did not commit any independent torts.

The New York Appellate Division, Second Department, recently affirmed the trial court's decision in all respects and held that Plaintiffs failed to raise any triable issues of fact warranting a trial.

This matter was handled by partners Robert I. Steiner and David I. Zalman.