NEW YORK--(BUSINESS WIRE)--Amini LLC prevailed in the Supreme Court of New York, securing an award totaling over $40 million in outstanding debt and associated fees for a Delaware limited liability company based in New York. This amount includes the full repayment sought by the client, plus pre-judgment interest and legal fees.
The case, led by Amini LLC’s associate Charles Wollman and founding member Bijan Amini, centered on a commercial dispute involving a $3.5 million loan provided by the client to the defendant for short-term working capital to support a startup investment. Despite clear repayment terms, the defendant failed to repay the loan within the agreed period of 79 days. Instead, the repayment extended to 799 days, accruing millions of dollars in interest. In light of the failure to repay timely, when faced with a $28 million repayment, the defendant claimed the loan was unconscionable, argued economic duress, and asserted that the waivers of defenses signed in forbearance agreements were invalid.
The court granted summary judgment in favor of the client and dismissed all the defendant’s arguments. The court confirmed that the loan documents met the criteria for expedited judgment under CPLR 3213. Amini LLC demonstrated that there was no evidence supporting the defendant’s defenses; in fact, evidence pointed to the contrary. The court found no evidence of procedural unconscionability, noting that both parties were sophisticated commercial entities with legal representation and that the terms were fairly negotiated at arm’s length. Without procedural unconscionability, the defendant’s arguments of substantive unconscionability were also dismissed. Additionally, the defendant, the CEO of a global financial services company with $8 billion in AUM and significant personal wealth, did not qualify for economic duress. The defendant had waived his defenses of unconscionability and duress by signing waivers in the forbearance agreements after taking the loan. His failure to disaffirm the agreements ratified the loan documents, making them fully enforceable.
Charles Wollman stated, “This ruling underscores the fundamental principle that parties in commercial transactions must honor their agreements, even if one party later regrets the terms. Amini LLC excels in transforming complex, high-stakes disputes into clear, winnable cases, securing multi-million-dollar awards for our clients.”
For additional details or to arrange an interview with the Amini LLC team, please contact Rachel at marketing@aminillc.com.
Amini LLC (www.aminillc.com) is a premier boutique law firm specializing in complex commercial litigation. The firm represents clients nationally, handling a wide range of claims including contracts, bankruptcies, trade secrets, corporate control, and professional malpractice. Renowned for its experienced trial attorneys and exceptional record in high-profile cases, Amini LLC offers expertise to individuals and entities facing challenging legal disputes.
