Collateral estoppel is a narrower species of res judicata. It precludes a party from relitigating in a subsequent action or proceeding an issue clearly raised in a prior action or proceeding and decided against that party or those in privity, regardless of whether the forum or causes of action are the same. In order to invoke the doctrine, the issue must have been material to the first action or proceeding, and essential to the decision that was rendered.
71-21 Loubet, LLC v. Bank of Am., N.A., NY Slip Op 05012 (2d Dep't August 24, 2022)
