September 15, 2006 – Crosby & Higgins LLP Secures a Key Summary Judgment Ruling on Behalf of its Client, the Arundel Group
September 15, 2006
Crosby & Higgins LLP has secured a key summary judgment ruling on behalf of its client, the Arundel Group, in a matter pending before the Honorable Jed. S. Rakoff of the United States District Court for the Southern District of New York. The ruling paves the way for a November trial date against the defendant Liquid Realty Partners LLC, where Arundel, a French M&A advisory firm, will seek compensation and fraud damages in excess of $9 million dollars relating to its work with Liquid Realty on the private equity acquisition Buffalo Grill S.A., a French company and operator of more than 100 Western-themed restaurants throughout Europe.
In its published decision, the Court denied Liquid Realty’s motion for summary judgment on Arundel’s fraud and quantum meruit claims, finding that, “Arundel plainly alleges misrepresentations in its complaint and the record is replete with evidence that, at the very least, tends to support Arundel’s assertion that [Liquid Realty] was knowingly lying to Arundel…” AG Limited d/b/a The Arundel Group v. Liquid Realty Partners, LLC, –F. Supp. 2d –, 2006 WL 264511 at *4 (S.D.N.Y. Sept. 15, 2006). With respect to quantum meriut, the Court found that Arundel “has produced more than sufficient evidence as to each required element to survive summary judgment.” Id.
Crosby & Higgins is currently preparing for a November 13, 2006 trial in the matter.