Defeated PJR Application in Real Estate Dispute for Bank

Successfully represented our clients in defense of an application for a prejudgment remedy (PJR) filed by a real estate broker who sought a $1.9 million attachment against them. The broker claimed that he produced a ready, willing and able buyer for the commercial real estate portfolio being sold by our clients.

The judge denied the PJR application, finding that the broker was likely aware that the individual agent who signed the listing agreement did not have the authority to bind the corporate entities, which had been in litigation with the agent for several years immediately prior to the signing of the listing agreement.