The recent decision by Judge Rakower and the ensuing developments have been overwhelming to understand at times.  Much of this complexity was explained at the two Town Hall meetings but of course every member was not able to attend those sessions.

Therefore, we are providing you with a brief summary of the status of the litigation below.  I will do my best to keep this simple and concise.

•     We brought our suit in the NY State Supreme Court in New York County.
•     The case was assigned to Judge Rakower and pleadings were filed by our attorneys.
•     The Attorney General’s (AG) office representing the DFS replied to our pleadings and we responded.
•     A hearing was held before Judge Rakower on  June 14, 2018.
•     Judge Rakower rendered a decision on July 5th.
•     The decision effectively nullified Regulation 208 in its entirety.
•     The AG filed a notice of appeal on July 6th.
•     The AG immediately notified our attorneys of their intention to seek an emergency stay of the judge’s decision. An emergency stay, If granted , would postpone the judge’s ruling of annulling the regulation and “reimpose” the Regulation 208 until the case was heard on appeal in the Appellate Division).
•     The AG later informed our counsel that they would NOT be seeking an emergency stay.
•     Both the AG and NYSLTA must file additional pleadings with the Appellate Division prior to the next court appearance.

The earliest this matter could come before the Appellate judges is October. Given the congestion of the court’s schedule, it could slip to late October or later.  Until then, the regulation 208 is annulled.   All other regulations pertaining to the title industry remain in effect.

 We will continue to keep you advised.