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FORTRESS CREDIT CORP. v. DECHERT LLP

4399, 603819/09.

89 A.D.3d 615 (2011)

934 N.Y.S.2d 119

2011 NY Slip Op 8626

FORTRESS CREDIT CORP. et al., Respondents, v. DECHERT LLP, Appellant.

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

Decided November 29, 2011.

In 2005, Marc Dreier, who was then an attorney, proposed to plaintiffs that they participate in a short-term note program to finance the purchase of foreign real estate assets. The designated borrower would be Dreier's clients, Solow Realty & Development Company, LLC, and affiliated companies controlled by real estate developer Sheldon Solow (collectively Solow Realty), and Dreier would be the guarantor. The parties executed two loans totaling $60 million in 2006, and...

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