Client’s Islamic Cultural Space Saved from Foreclosure Action

Congratulations to Morrison Cohen client Park Place Partners Development LLC, which secured a dismissal of a mortgage foreclosure complaint brought by a consortium of international lenders.

The lenders initiated the action to foreclose on the downtown New York City property, which Park Place Partners is developing into an Islamic mosque and museum, under a specious claim that its land was collateral for a loan that the developer was using to build the project. Even though our client was not a party to the relevant loans or mortgage documents, the lenders named it as a defendant in the lawsuit.

In a decision dated October 3, 2022, Hon. Francis A. Kahn III of the Supreme Court of the State of New York, granted Morrison Cohen’s motion to dismiss the Complaint against Park Place Partners Development, finding that they were not a “necessary or permissible” party to the action.

The team at Morrison Cohen was led by Chair and Co-Managing Partner Y. David Scharf, Partner and Business Litigation Vice-Chair Latisha V. Thompson, and Partner Michael Mix.

The Supreme Court, New York County Opinion is available here.