Background

An elderly woman of high net worth was involved with a younger man in the antiquities business. Their relationship had been both business and personal. She ultimately loaned him $500,000.00 but their personal relationship soured.

The Challenge

We were retained by the woman to recoup her funds. As the loans were poorly documented and had been made over a span of many years, proof and the statute of limitations were both of great concern. In addition, the financial condition of her former partner appeared to have deteriorated.

The Solution

We brought suit in the Supreme Court of the State of New York for the County of New York. After issue was joined, the defense lagged. We ultimately obtained Judgment. During post-judgment discovery we learned of certain dealings which we believed would be embarrassing to the other side. When we pressed these points, settlement discussions began in earnest.

The Result

The former partner agreed to repay our client at total of $375.000.00.