J&R Multifamily Group, Ltd. v. U.S. Bank, N.A.
United States District Court for the Southern District of New York
2019 WL 6619329 (2019)
- Written by Jamie Milne, JD
Facts
J&R Multifamily Group, Ltd. (J&R) (plaintiff) sued its lenders and debt servicers (collectively, lenders) (defendants) for alleged fraud and tortious interference with prospective business relations in connection with J&R’s failed sale of its apartment complex in Houston, Texas. Although the suit was filed in a federal district court in Texas, it was transferred to a federal district court in New York based on a forum-selection clause in the underlying loan agreement. The agreement also contained a choice-of-law clause stating that New York law governed the transaction. The lenders argued that the choice-of-law clause applied to both of J&R’s claims, meaning that they were both governed by New York law. J&R argued that Texas law applied, seeking to take advantage of Texas’s lower standard for tortious interference. The district court considered the choice-of-law issue when ruling on the lenders’ motion to dismiss the claims.
Rule of Law
Issue
Holding and Reasoning (Castel, J.)
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