Gatzonis v. Valiotis

Order, Supreme Court, New York County (Eileen Bransten, J.), entered April 22, 2009, which denied plaintiffs motion for a preliminary injunction, unanimously affirmed, without costs.

The court properly denied plaintiffs motion as he failed to show a likelihood of success on his claim that the loan agreement with defendant was unenforceable. The agreement provided that, in the event of a default, the parties would value plaintiffs minority stake in their closely held company pursuant to a formula. Defendant would pay plaintiff the difference between this valuation and the amount owed on the…