Mareva injunction denied as sophisticated investors failed to show strong prima facie case of fraud.
The plaintiffs, investors in several senior living projects developed by the defendants, moved for a Mareva injunction freezing the defendants' worldwide assets.
The plaintiffs alleged civil fraud and a fraudulent scheme, particularly regarding personal guarantees on one failed project.
The Superior Court of Justice dismissed the motion, finding no strong prima facie case of fraud, as the investment documents clearly outlined the indirect nature of the guarantees.
The Court also found no evidence of a serious risk of asset dissipation.
