Sapphire Investment Ventures, LLC v. Mark Hotel Sponsor LLC

Order, Supreme Court, New York County (Lucy Billings, J.), entered July 17, 2013, which denied defendants’ motion to dismiss the amended complaint, unanimously modified, on the law, to grant the motion to the extent the amended complaint is not based on the newly discovered facts of “financial entanglement,” and otherwise affirmed, without costs.

In this action to rescind a purchase agreement and recover a down payment, the proceeding before the Attorney General (AG) was sufficiently judicial so as to warrant preclusive effect (see Coffey v CRP/Extell Parcel I, L.P., 117 AD3d 585 [1st Dept…