Senior Trial Partner Peter T. Crean and Partner Gregory J. Radomisli obtained a Summary Judgment Motion in the Eastern District of New York. Plaintiff was a land developer who paid the codefendants millions of dollars in up-front fees to obtain loans from other parties so he could acquire and develop property. Despite multiple promises, the codefendants failed to deliver. With the threat of financial ruin on the horizon, plaintiff executed a General Release running toward the codefendants and their attorneys for all claims the plaintiff could have brought until that point in exchange for another promise that the codefendants would help plaintiff obtain financing. Our clients were the codefendants’ attorneys.
The defendants moved for Summary Judgment, arguing that the General Release barred the plaintiff’s claims. The Court granted the motion, and did not adopt plaintiff’s argument that the Release was procured by fraud, finding that his reliance upon the codefendants’ empty promise in exchange for the Release was unjustified as a matter of law, given his past history with the codefendants.