CTF Development, Inc. v. BML Properties, LTD

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE CTF DEVELOPMENT, INC. and ) PERFECT LUCK ASSETS LIMITED, ) ) Plaintiffs, ) ) v. ) C.A. No. 2021-0459-KSJM ) BML PROPERTIES LTD., ) ) Defendant. ) ORDER RESOLVING MOTION TO DISMISS AND MOTION FOR PARTIAL SUMMARY JUDGMENT 1. In 2010, a subsidiary of defendant BML Properties Ltd. (“BML”) set out to construct a resort in the Bahamas called the “Baha Mar Resort.” The project floundered financially and wound up in liquidation proceedings in the Bahamas. Later, BML sued entities involved in the project in New York state court alleging fraud and…