New York Court of Appeals in Albany. Photo: Shutterstock.com Court of Appeals Revives $100M Lawsuit, Finding Tortious Interference Claims Not Preempted by Bankruptcy Law
The divided high court's decision could have dramatic and lasting effects on New York City's real estate development community, which commonly relies on the so-called bankruptcy remote special purpose entity loan structures to manage risk.
November 25, 2020 at 02:14 PM
5 minute read
New York's highest court has revived a lawsuit seeking nearly $100 million in damages against real estate investor Philip Pilevsky for allegedly obstructing loan agreements for a proposed residential tower in Manhattan, ruling that state law claims for tortious interference were not preempted by federal bankruptcy law.
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