Greenberg, Trager & Herbst, LLP, Appellant v. Hsbc Bank USA, Respondents. (and a Third-Party Action.)

Summary

The New York Court of Appeals affirmed summary judgment dismissing the law firm's claims, holding that neither the payor bank nor the depositary/collecting bank owed a duty to the non‑customer depositor, that the negligent misrepresentation and negligence claims against HSBC fail, and that equitable estoppel does not apply. Judge Pigott dissented in part, arguing the negligent misrepresentation claim should not have been dismissed.