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LICHTENSTEIN v. WILLKIE FARR & GALLAGHER LLP

12269 652092/12

120 A.D.3d 1095 (2014)

992 N.Y.S.2d 242

2014 NY Slip Op 06242

DAVID LICHTENSTEIN et al., Appellants, v. WILLKIE FARR & GALLAGHER LLP, Respondent, et al., Defendants.

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

Decided September 18, 2014.

Plaintiff David Lichtenstein owns and manages real estate through his entities, plaintiffs The Lightstone Group, LLC and Lightstone Holdings, LLC. In 2007, Lichtenstein and a consortium of investors purchased Extended Stay, Inc. (ESI), which owns and manages hotels. Most of the purchase price was financed through a combination of $4.1 billion in mortgage loans to ESI and $3.3 billion in 10 mezzanine loan tranches to its subsidiaries. As part of the loan transaction, Lichtenstein...

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