Berlandi Nussbaum & Reitzas LLP prevails on its motion to dismiss in United States Bankruptcy Court for the SDNY
NEW YORK – Berlandi Nussbaum & Reitzas LLP client, Paradigm Credit Corporation (“Paradigm”), a New York based commercial mortgage lender, prevailed on its motion to dismiss in United States Bankruptcy Court for the Southern District of New York. The lawsuit was initiated by Stillwater Liquidating LLC in an adversary proceeding against Paradigm and 24 other defendants, relating to numerous transactions, of which Paradigm was involved in two. The motion to dismiss was granted as to, inter alia, ALL claims against Paradigm.
“We are gratified to know that justice was done and that our client has been fully vindicated”, stated partner, Joshua Reitzas. “After nearly two years of litigation, we are pleased to see that the Court saw things our way,” added partner, Jay Nussbaum.
On September 27, 2016, the Court will hear arguments as to whether the claims should be dismissed with or without prejudice.