Morrison Cohen Client Granted Summary Judgment After 4-Year Battle

Churchill Real Estate subsidiary 381 Broadway Lender LLC earned summary judgment on its tortious interference with contract against defendant Titan Capital ID, LLC, in an April 11, 2023 decision by New York County Supreme Court Justice Lebovits.

In 2019, 381 Broadway sued Titan for tortiously interfering with its loan agreement by providing $6 million in loans secured by real property that was already encumbered by 381 Broadway’s mortgage.  The loan documents for 381 Broadway’s mortgage prohibited further encumbrance of the mortgaged property without 381 Broadway’s written consent.  381 Broadway argued that Titan’s subordinate financing drew away money that should have gone to 381 Broadway, and further prevented settlement with the borrower and a timely sale of the mortgaged property.

On June 6, 2022, 381 Broadway moved for summary judgment against Titan on the issue of liability, and requested that damages be referred to a special referee for determination. Titan contemporaneously moved for summary judgment to dismiss 381 Broadway’s complaint. The Court granted 381 Broadway’s motion for summary judgment and denied Titan’s motion for summary judgment.

Partners Y. David Scharf and Gayle Pollack and Senior Counsel Joaquin Ezcurra represent 381 Broadway Lender in this action, captioned 381 Broadway Lender LLC v. Titan Capital ID, LLC, Index No. 153508/2019.