New York Partner Minyao Wang, Chicago Partner Bryan Sugar, and Denver/Washington, D.C. Partner Christopher Wood secured a victory on behalf of Lewis Brisbois' client, a hotel developer, when the Circuit Court of Cook County, Illinois granted the client's motion to dismiss and ordered the parties to proceed to arbitration.
In this matter, the 39 plaintiffs, represented by a New York based law firm that focuses on EB-5 litigation against high-end real estate developers, were foreign nationals living in China or Taiwan who were seeking EB-5 visas and invested in a lending company. The lending company loaned money to entities that were managing a project that involved renovating a hotel and constructing a mixed-use tower in downtown Chicago. Disputes developed among the parties. The foreign investors organized informally and ultimately filed suit against Lewis Brisbois' client, alleging claims of breach of fiduciary duty, breach of contract, conversion, and conspiracy, as well as aiding and abetting conversion. The defendants faced exposure of at least $20 million.
Lewis Brisbois' client believed the claims lacked merit. Lewis Brisbois' cross-office team also concluded that the forum for the litigation was improper. It filed on behalf of its clients a motion to dismiss the plaintiffs' complaint, arguing that the plaintiffs' claims were subject to mandatory arbitration under the lending company's operating agreement. The Lewis Brisbois team requested, on behalf of its client, that the court dismiss the complaint or that, in the alternative, the court compel the plaintiffs to arbitrate the matter. The plaintiffs countered in response that conditions for arbitration were not satisfied and that the arbitration requirement was not fair. The court agreed with the Lewis Brisbois team and determined, among other things, that the defendants had fulfilled the conditions precedent to the arbitration clause. Accordingly, it stayed the litigation and ordered the parties to proceed to arbitration in accordance with contractual requirements. It is not clear whether and how the 39 plaintiffs could proceed jointly under arbitral rules.
Mr. Wang focuses his practice on complex business litigation, bankruptcy litigation, and cross-border litigation. He has 15 years of experience at both the trial and appellate levels and he has achieved high-stakes victories in bench and jury trials as well as arbitrations. His clients have included Fortune 500 companies, hedge funds, institutional investors, insurance companies, start-ups and high net-worth families in the United States. He has previously represented EB-5 developers in courts across the United States and in arbitral forums in Asia.
Mr. Sugar has more than 20 years of experience handling complex intellectual property litigation and is nationally recognized for his experience and knowledge as a litigator and counselor in the field. He has litigated intellectual property disputes on behalf of a number of the world's largest and most sophisticated brands. He has earned recognition in the World Trademark Review 1000: The World's Leading Trademark Professionals.
Mr. Wood has over 30 years of experience in antitrust, data privacy disputes, and complex and commercial litigation. He represents plaintiffs and defendants (from individuals to Fortune 500 companies) in state and federal proceedings. His antitrust and competition law experience includes private party litigation, class actions, and opt-out proceedings in regulated and unregulated industries.