U.S. BANK NATIONAL ASSOCIATION, ETC., plf-ap, v. LIGHTSTONE HOLDINGS LLC def-res, WACHOVIA BANK, N.A., def

8955-8955A. U.S. BANK NATIONAL ASSOCIATION, ETC., plf-ap, v. LIGHTSTONE HOLDINGS LLC def-res, WACHOVIA BANK, N.A., def — Venable LLP, Baltimore, MD (Gregory A. Cross of the bar of the State of Maryland, admitted pro-hac vice, of counsel), for ap — Kasowitz, Benson, Torres & Friedman LLP, New York (David M. Friedman of counsel), for Lightstone Holdings LLC and David Lichtenstein, res — Meister Seelig & Fein LLP, New York (Stephen B. Meister of counsel), for Line Trust Corporation Ltd. and Deuce Properties Ltd., res — Cleary Gottlieb Steen & Hamilton LLP, New York (Howard S. Zelbo of counsel), for Bank of America, N.A., Merrill Lynch Mortgage Lending, Inc., U.S. Bank National Association, etc., Debt II ESH, L.P., Debt-U ESH, L.P. and KeyBank National Association, res — Buchanan Ingersoll & Rooney PC, New York (Kristi A. Davidson of counsel), for KeyBank National Association, res — Order, Supreme Court, New York County (Melvin L. Schweitzer, J.), entered September 7, 2011, which granted defendants' motion to dismiss the complaint, unanimously reversed, on the law, without costs, and the motion denied. Order, same court and Justice, entered September 6, 2011, which denied plaintiff's motion seeking declaratory relief, unanimously affirmed, without costs.

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

8955-8955A. U.S. BANK NATIONAL ASSOCIATION, ETC., plf-ap, v. LIGHTSTONE HOLDINGS LLC def-res, WACHOVIA BANK, N.A., def — Venable LLP, Baltimore, MD (Gregory A. Cross of the bar of the State of Maryland, admitted pro-hac vice, of counsel), for ap — Kasowitz, Benson, Torres & Friedman LLP, New York (David M. Friedman of counsel), for Lightstone Holdings LLC and David Lichtenstein, res — Meister Seelig & Fein LLP, New York (Stephen B. Meister of counsel), for Line Trust Corporation Ltd. and Deuce Properties Ltd., res — Cleary Gottlieb Steen & Hamilton LLP, New York (Howard S. Zelbo of counsel), for Bank of America, N.A., Merrill Lynch Mortgage Lending, Inc., U.S. Bank National Association, etc., Debt II ESH, L.P., Debt-U ESH, L.P. and KeyBank National Association, res — Buchanan Ingersoll & Rooney PC, New York (Kristi A. Davidson of counsel), for KeyBank National Association, res — Order, Supreme Court, New York County (Melvin L. Schweitzer, J.), entered September 7, 2011, which granted defendants’ motion to dismiss the complaint, unanimously reversed, on the law, without costs, and the motion denied. Order, same court and Justice, entered September 6, 2011, which denied plaintiff’s motion seeking declaratory relief, unanimously affirmed, without costs.

This case involves a dispute between two sets of creditors, Senior Lenders (plaintiff) and Junior or Mezzanine Lenders, as to who has priority to payments personally guaranteed by defendants Lightstone and Lichtenstein but capped at $100 million, under Loan and Guaranty Agreements (made to both sets of lenders) and an Intercreditor Agreement (IC Agreement), in the event of default by the borrowers.

U.S. BANK NATIONAL ASSOCIATION, ETC., plf-ap, v. LIGHTSTONE HOLDINGS LLC def-res, WACHOVIA BANK, N.A., def

Share with Email

Thank you for sharing!

Trending Stories

More From ALM

Subscribe to New York Law Journal