Highmount Olympic Fund, LLC v. PIPE Equity Partners, LLC

Order, Supreme Court, New York County (Melvin L. Schweitzer, J.), entered December 17, 2010, which, in this consolidated action, denied the motion of Highmount Olympic Fund, LLC to dismiss the complaint of PIPE Equity Partners, LLC pursuant to CPLR 3211 (a) (7), unanimously reversed, on the law, with costs, and the motion granted. The Clerk is directed to enter judgment in Highmount’s favor dismissing the complaint.

Equity Partners seeks to rescind an investment agreement based on a mutual mistake where the value of the in kind investment contribution that it accepted from Highmount turned out…