Opinion
8189N Index 653277/18
01-22-2019
CWCAPITAL COBALT VR LTD., Plaintiff–Appellant, v. CWCAPITAL INVESTMENTS LLC, et al., Defendants–Respondents, CWFS–Reds, LLC, Defendant.
Quinn Emanuel Urquhart & Sullivan, LLP, New York (Kathleen M. Sullivan of counsel), for appellant. Venable LLP, New York (Konstantina A. Calabro of counsel), for respondents.
Quinn Emanuel Urquhart & Sullivan, LLP, New York (Kathleen M. Sullivan of counsel), for appellant.
Venable LLP, New York (Konstantina A. Calabro of counsel), for respondents.
Sweeny, J.P., Richter, Tom, Kern, Singh, JJ.
Order, Supreme Court, New York County (Andrea Masley, J.), entered August 2, 2018, which denied plaintiff's motion for a preliminary injunction to prevent defendants from selling real properties pooled in commercial mortgage-backed securities trusts, unanimously affirmed, without costs.
The court did not abuse its discretion in denying a preliminary injunction ( Nobu Next Door, LLC v. Fine Arts Hous., Inc., 4 N.Y.3d 839, 840, 800 N.Y.S.2d 48, 833 N.E.2d 191 [2005] ). Plaintiff did not establish a likelihood of success on the merits, because, even without addressing the various questions surrounding plaintiff's authority under the agreements, it did not take the requisite steps to remove and replace respondents as control class representative and special servicer under the indenture and collateral management agreement ( CPLR 6301 ). Moreover, plaintiff has not shown that it will suffer irreparable harm absent injunctive relief, since the alleged harm would be compensable with monetary damages (id. ). Finally, a balance of the equities does not weigh in plaintiff's favor ( Nobu at 839, 800 N.Y.S.2d 48, 833 N.E.2d 191 ).