Dechert’s website had the following about their recent win in a lawsuit against Fundamental:
Dechert attorneys obtained a favorable judgment issued on Feb. 7 by the First Department of the New York Appellate Division in Fundamental Long Term Care Holdings LLC v. Cammeby’s Funding, LLC, No. 650332-2011. Dechert partner Steven A. Engel argued the case on Jan. 17 in support of a judgment recognizing the rights of defendant Cammeby Funding, LLC to a one-third interest in Fundamental Long Term Care, a national nursing-home company.. In the court’s opinion it stated: “regardless of which document was executed first, the motion court correctly found unambiguous the parties’ option agreement entitling defendant Cammeby’s to acquire units of the LLC for $1,000 without the need for any capital contribution. We note that the integration clause in the option agreement bars parol evidence of the parties’ intent and of any other agreements or understandings. Under the circumstances, we reject plaintiffs’ contention that defendants obtained an improper windfall.”
“We’re pleased that the First Department recognized, as the trial court did, that the plain language of the option agreement must govern the parties’ rights," stated Mr. Engel.
In addition to Mr. Engel, Dechert chairman Andrew J. Levander was on the team representing the defendants, Cammeby’s Funding, LLC and Quality Healthcare Services.
The Court’s decision may be found here.