Greystone EB-5 Holdings Corp vs Criterion Group LLC

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Greystone EB-5 Holdings Corp

The Bassuk Organization INC, GS EB5 VI LLC


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Criterion Group LLC

Shibber A Khan, Efim Kogan, Yung Ching Siu, David Lubinitsky, 11-12 30th Drive LLC

Filing Date:March 06, 2018

Case:Bassuk Organization, Greystone EB-5 Holdings Crop vs Criterion Group

Jurisdiction:New York State Court


Civil / Criminal:Civil

Cause(s) of Action:

Breach of Contract


Plaintiffs are compelled to bring this action because Defendants have breached their contractual obligations, circumvented and undermined their agreements with Plaintiffs and induced Plaintiffs to incur millions of dollars in time, effort and expenses pursuing the loan financing agreed to by the parties while Defendants knowingly frustrated the parties' contracts. This case arises out of two written agreements wherein Plaintiffs agreed to perform consulting services (i) to obtain construction financing for Defendants' large-scale real estate project in Astoria, Queens; and (ii) to obtain millions of dollars in EB-5 financing for that project. Plaintiffs spent over a year and a half securing both types of financing, in forms and under terms that were accepted by Defendants. But Defendants abandoned the project at the last minute, informing Plaintiffs that they had elected to sell the Queens properties for $85 million.


Summons + Complaint

Summons + Complaint

Attorneys, Regional Centers and Firms
Greystone EB-5 Holdings CorpMorrison Cohen LLPHon. David B. Saxe (Ret.)


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