AJW Partners, LLC v. Admiralty Holding Co.

Order, Supreme Court, New York County (O. Peter Sherwood, J.), entered March 11, 2011, which granted defendant Deeming’s motion to dismiss the complaint as against him, unanimously affirmed, with costs.

Plaintiffs allege that Deeming, an officer of both defendant Admiralty Holding Company (AHC) and defendant Undersea Recovery Corporation (URC), knew about plaintiffs’ security agreements with AHC when he allowed AHC to enter into a license agreement with URC, and therefore knew that the license agreement would constitute a breach of the security agreements between plaintiffs and AHC. These…