MARCAL FIN. SA v. MIDDLEGATE SEC. LTD.

653351/15. Appeal No. 15474. Case No. 2021-00458.

203 A.D.3d 467 (2022)

164 N.Y.S.3d 587

2022 NY Slip Op 01421

Marcal Finance SA et al., Respondents, v. Middlegate Securities Ltd., Appellant, et al., Defendants.

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

Decided March 8, 2022.


Attorney(s) appearing for the Case

Wachtel Missry LLP, New York ( Evan S. Weintraub of counsel), for appellant.

Storch Byrne LLP, New York ( Steven G. Storch of counsel), for respondents.

Concur—Acosta, P.J., Renwick, Webber, Kern, Friedman, JJ.


The breach of contract claim against Middlegate was sufficiently alleged. Plaintiffs alleged that they entered into an agreement with Middlegate to manage their inheritance for their benefit and that Middlegate breached the agreement by misappropriating the funds. Although most of the conduct specifically complained of was alleged to have been committed by other defendants, there were at least a few allegations of misconduct by Middlegate, including that Middlegate faxed...

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