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NORDDEUTSCHE LANDESBANK GIROZENTRALE v. TILTON

10581. 651695/15.

178 A.D.3d 539 (2019)

115 N.Y.S.3d 312

2019 NY Slip Op 08965

Norddeutsche Landesbank Girozentrale et al., Respondents, v. Lynn Tilton et al., Appellants.

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

Decided December 17, 2019.

Attorney(s) appearing for the Case

Gibson, Dunn & Crutcher LLP, New York ( Randy M. Mastro of counsel), for appellants.

Berg & Androphy, New York ( Michael M. Fay of counsel), for respondents.

Concur—Gische, J.P., Mazzarelli, Singh, Moulton, JJ.

Summary judgment is precluded by issues of fact as to whether plaintiffs' losses were proximately caused by defendants' alleged fraud (see Basis PAC-Rim Opportunity Fund [Master] v TCW Asset Mgt. Co., 149 A.D.3d 146, 149 [1st Dept 2017], lv denied 30 N.Y.3d 903 [2017]).

Further, the facts do not present the rare circumstance in which the issue of reasonable reliance can be resolved...

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