PETRA CRE CDO 2007-1, Ltd. v. Morgans Group LLC

Order, Supreme Court, New York County (Melvin L. Schweitzer, J.), entered December 29, 2010, which, inter alia, denied plaintiff mezzanine lender’s motion for summary judgment on its complaint alleging breach of contract, and granted defendant guarantor’s cross motion for summary judgment dismissing the complaint, unanimously affirmed, with costs.

A senior loan and mezzanine loan originated from a single $40 million loan arrangement between a nonparty senior lender (Greenwich Capital) and the defendant (Morgans), as parent negotiator on behalf of the eventual borrower-entities, MHG (as…