MILL FINANCIAL, LLC plf-ap, v. GEORGE N. GILLETT, JR. def, THE ROYAL BANK OF SCOTLAND, PLC, def-res

3831-3832. MILL FINANCIAL, LLC plf-ap, v. GEORGE N. GILLETT, JR. def, THE ROYAL BANK OF SCOTLAND, PLC, def-res — Kasowitz, Benson, Torres & Friedman LLP, New York (Paul M. O'Connor, III of counsel), for ap — Goodwin Procter LLP, New York (Marshall H. Fishman of counsel), for res — Order, Supreme Court, New York County (Eileen Bransten, J.), entered July 12, 2016, which granted defendant Royal Bank of Scotland, PLC's motion for summary judgment dismissing the remaining cause of action, for breach of contract, against it, unanimously modified, on the law, to reinstate the claim only insofar as based on an alleged inability to refinance, and otherwise affirmed, without costs. Appeal from order, same court and Justice, entered October 7, 2016, which denied plaintiffs' motion for reargument, unanimously dismissed, without costs, as taken from a nonappealable paper.

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3831-3832. MILL FINANCIAL, LLC plf-ap, v. GEORGE N. GILLETT, JR. def, THE ROYAL BANK OF SCOTLAND, PLC, def-res — Kasowitz, Benson, Torres & Friedman LLP, New York (Paul M. O’Connor, III of counsel), for ap — Goodwin Procter LLP, New York (Marshall H. Fishman of counsel), for res — Order, Supreme Court, New York County (Eileen Bransten, J.), entered July 12, 2016, which granted defendant Royal Bank of Scotland, PLC’s motion for summary judgment dismissing the remaining cause of action, for breach of contract, against it, unanimously modified, on the law, to reinstate the claim only insofar as based on an alleged inability to refinance, and otherwise affirmed, without costs. Appeal from order, same court and Justice, entered October 7, 2016, which denied plaintiffs’ motion for reargument, unanimously dismissed, without costs, as taken from a nonappealable paper.

Defendants George Gillett and Thomas Hicks each owned a 50 percent share of the Liverpool Football Club of the English Premier League through a series of entities. In January 2008, defendant Royal Bank of Scotland, PLC (RBS) extended loan facilities to defendant Gillett, Hicks, and certain entities through which they owned the Club to refinance the debt with which the Club had been purchased. Simultaneously, plaintiffs Mill Financial, LLC and Mill Football Holdings, PLC (collectively, Mill) made loans to Gillett Football, LLC, an entity through which Gillett owned his 50 percent share of the Club. Mill, RBS, and another lender also entered into an intercreditor agreement, which required them to provide prior notice to the other parties to the agreement of any action they took to enforce their applicable loan documents.

MILL FINANCIAL, LLC plf-ap, v. GEORGE N. GILLETT, JR. def, THE ROYAL BANK OF SCOTLAND, PLC, def-res

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