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Law360 Notes Kelley Drye Representation of Galante in Resort Financing Case

August 16, 2012

Special counsel Michael S. Kosmas was noted in the Law360 article “NY Judge Tosses Suit To Block $150M Casino Loan Buy” for his representation of Galante Holdings Inc. A New York state judge dismissed the lawsuit by a group of investors against Galante.  The plaintiffs claimed that Galante improperly tried to buy a loan on a JW Marriott hotel at a discounted rate after the investors defaulted on the loan.  Judge Melvin Schweitzer agreed with Kelley Drye's argument, ruling the plaintiffs failed to fulfill a requirement that the investors have the support of each class of investors to sue.

Partner Robert E. Crotty and special counsel Michael S. Kosmas represented Galante in this case. 

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