Real Estate Contracts

927 Atlantic Investors, LLC v. Brookland Capital LLC et al.

Court: Supreme Court, Kings County
Index No.:  2019 NY Slip Op 33632
Plaintiff: 927 Atlantic Investors, LLC
Defendants: Brookland Capital LLC et al.

Facts: Plaintiff invested over $4 million in a real estate ventures in Brooklyn. After a period of time, Plaintiff became concerned over the status of the real estate development and discovered that the invested funds had disappeared as a result of intra-company transfers. Plaintiff also learned that the project was several million dollars in debt. Plaintiff moved for a preliminary injunction in order to preserve the integrity of the project.

Holding: The Supreme Court denied the injunction, finding that Plaintiff was not, in reality, seeking equitable relief. Instead, the primary focus of Plaintiff’s action was money damages, which was not the proper subject of an injunction.

Submitted: Davida S. Scher, Esq.

Precis: Davida S. Scher