Rostack Investments Inc. v. Angela C. Sabella, Angela Chen
Published: Dec. 6, 2014 | Result Date: Oct. 30, 2014 | Filing Date: Jan. 1, 1900 |Case number: BC428298 Summary Judgment – $50,000,000
Court
L.A. Superior Central
Attorneys
Plaintiff
John Nadolenco
(Mayer Brown LLP)
Defendant
Louis R. Miller III
(Miller Barondess LLP)
Facts
Rostack Investments Inc. sued Angela Sabella and Angela Chen, in connection with a promissory note allegedly executed by Sabella.
Contentions
PLAINTIFF'S CONTENTIONS:
Plaintiff alleged that Sabella signed a note for $30 million for her use to acquire thousands of acres of land in Utah. Plaintiff alleged that Sabella then refused to make payment.
Plaintiff asserted claims for breach of contract, open book account and money lent, seeking payment of over $30 million in principal plus interest.
DEFENDANTS' CONTENTIONS:
Defendant contended that her billionaire father, Chen Din Hwa, intended to make her a gift, and told her she would never have to pay for this loan. She also alleged that plaintiff, who serviced several of her father's loans, forgave her loan, and therefore she owed nothing.
Damages
Rostack sought $30 million plus interest, bringing the total to over $50 million.
Result
The court ruled in favor of Rostack in its motion for summary judgment.
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390