PETRA CRE CDO 2007-1, LTD. v. MORGANS GROUP LLC

5140, 600880/10.

84 A.D.3d 614 (2011)

923 N.Y.S.2d 487

PETRA CRE CDO 2007-1, LTD., Appellant, v. MORGANS GROUP LLC, Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided May 19, 2011.


A senior loan and mezzanine loan originated from a single $40 million loan arrangement between a nonparty senior lender (Greenwich Capital) and the defendant (Morgans), as parent negotiator on behalf of the eventual borrower-entities, MHG (as borrower on the senior loan) and Mondrian (as borrower on the mezzanine loan). The two loan agreements, together with supporting agreements, were executed on the same date. Pursuant to the express terms of the parties' commitment letter...

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