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.