Developers Beat $40M Fraud Suit Over Soured NY Project

Law360, New York (August 21, 2012, 9:40 PM EDT) -- A New York federal judge on Tuesday threw out a real estate developer's $40 million breach of contract suit against a pair of Israeli investors accused of fraudulently seizing the developer's partnership interests in a New York luxury building.

U.S. District Judge Robert P. Patterson Jr. granted the defendants' motion to dismiss the suit in its entirety, finding that developer Shahab Karmely and his company SK Greenwich LLC had failed to show that the two investors had induced any lenders to declare a default, which caused...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Karmely et al v. Wertheimer et al


Case Number

1:11-cv-00541

Court

New York Southern

Nature of Suit

Contract: Other

Judge

Robert P. Patterson

Date Filed

January 28, 2011

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.