New York Partner Minyao Wang, Chicago Partner Bryan Sugar, and Denver/Washington, D.C. Partner Christopher Wood secured a victory on behalf of Lewis Brisbois’ client, a hotel developer, when the Circuit Court of Cook County, Illinois granted the client’s motion to dismiss and ordered the parties to proceed to arbitration.

In this matter, the 39 plaintiffs, represented by a New York based law firm that focuses on EB-5 litigation against high-end real estate developers, were foreign nationals living in China or Taiwan who were seeking EB-5 visas and invested in a lending company. The lending company loaned money to entities that were managing a project that involved renovating a hotel and constructing a mixed-use tower in downtown Chicago. Disputes developed among the parties. The foreign investors organized informally and ultimately filed suit against Lewis Brisbois’ client, alleging claims of breach of fiduciary duty, breach of contract, conversion, and conspiracy, as well as aiding and abetting conversion. The defendants faced exposure of at least $20 million.