47 E. 34th St. (NY) L.P. v. BridgeStreet Worldwide, Inc.
In 47 E. 34th St. (NY) L.P. v BridgeStreet Worldwide, Inc., the Appellate Division, First Department, reversed a Supreme Court judgment that had granted summary judgment to the plaintiff, 47 East 34th Street (NY) L.P. The plaintiff had sought to hold Versa Capital Management, LLC, and Domus BWW Funding, LLC liable as successors or alter egos of BridgeStreet Worldwide, Inc. (BWW) on a lease guaranty. The Appellate Division found that the lower court erred by relying on a mistaken belief of a 'limited factual issue' and misinterpreting previous admissions. It concluded that documentary evidence disproved successor and alter ego liability, as BWW's assets were transferred to nonparties, not to Versa or Domus Funding. Consequently, the Appellate Division granted summary judgment to Versa Capital Management, LLC, and Domus BWW Funding, LLC, dismissing all claims against them.