Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

MINA INVESTMENT HOLDINGS LTD. v. LEFKOWITZ

June 15, 1999

MINA INVESTMENT HOLDINGS LTD. AND PENTIUM CAPITAL HOLDINGS, LTD., PLAINTIFFS,
v.
STEVEN W. LEFKOWITZ, MECO HOLDINGS, L.L.C., MILL EQUIPMENT & ENGINEERING CORP., MECO INVESTMENT CORP., SCOGGIN CAPITAL MANAGEMENT, L.P., SELIG PARTNERS, L.P. AND NIPPON CREDIT TRUST CO., DEFENDANTS.



The opinion of the court was delivered by: Sweet, District Judge.

OPINION

Defendant Nippon Credit Trust Co. ("Nippon") has moved pursuant to Rule 12(b)(6); Fed.R.Civ.P., to dismiss a claim against it for unjust enrichment brought by plaintiffs Mina Investment Holdings Ltd. ("Mina") and Pentium Capital Holdings, Ltd. ("Pentium") (collectively, the "Plaintiffs"), on the ground that Plaintiffs have once again failed to state a claim upon which relief may be granted. For the reasons set forth below, Nippon's motion to dismiss the unjust enrichment claim contained in Plaintiffs' Second Amended Complaint is granted.

The Parties

Plaintiffs are investment companies incorporated in the British Virgin Islands, with their principal place of business in Switzerland, where their sole director, an entity named Saturn Corporate Services Inc., is located, and where officials of Saturn directed, controlled, and coordinated all of their activities.

Defendant Steven W. Lefkowitz ("Lefkowitz") is a resident of King's County, New York. He has identified himself as chairman of the board of directors and president of defendant MECO Holdings, L.L.C. ("MECO Holdings"), and as chairman of the board of directors of defendant Mill Equipment & Engineering Corporation ("MECO").

Defendant MECO Holdings is a limited liability company organized and existing under the laws of Delaware. Since April 1994, MECO Holdings has owned the majority of the stock of defendant MECO, a Delaware corporation. The management of MECO Holdings was occasionally nominally vested in an entity named Wade Capital Corporation, a Delaware corporation wholly owned and controlled by Defendant Lefkowitz.

Defendant MECO is a Delaware corporation, with its principal place of business in Pittsburgh, Pennsylvania. It is engaged in the manufacture of electrical and mechanical equipment for customers in the metals industry.

Defendant MECO Investment Corp. ("MIC") is a Delaware corporation and a wholly-owned subsidiary of Defendant MECO, incorporated on June 16, 1995.

Defendant Scoggin Capital Management, L.P. ("Scoggin") is a domestic limited partnership organized and existing under the laws of Delaware.

Defendant Selig Partners, L.P. ("Selig") is a domestic limited partnership organized and existing under the laws of Delaware. Selig was both an equity investor in MECO Holdings, as well as a party which loaned money to MECO Holdings for the acquisition of MECO.

Defendant Nippon is a bank and trust company existing under the laws of New York.

Prior Proceedings and Facts

The facts and prior proceedings are set forth in prior opinions of this Court, familiarity with which is assumed. See Mina Investment Holdings Ltd. v. Lefkowitz, 184 F.R.D. 245 (S.D.N Y 1999) (hereinafter "Mina II"); Mina Investment Holdings Ltd. v. Lefkowitz, 16 F. Supp.2d 355 (S.D.N.Y. 1998) (hereinafter "Mina I"). Plaintiffs filed their original complaint on February 25, 1997, and their First Amended Complaint on January 12, 1998. The First Amended Complaint contained three counts, two of which were directed at Nippon. Count II of the First Amended Complaint alleged tortious interference with contract against Nippon, and Count III alleged unjust enrichment.

In considering a motion to dismiss, the facts alleged in the complaint are presumed to be true and all factual inferences must be drawn in the plaintiff's favor. See Scheuer v. Rhodes, 416 U.S. 232, 236, 94 S.Ct. 1683, 40 L.Ed.2d 90 (1974); Mills v. Polar Molecular Corp., 12 F.3d 1170, 1174 (2d Cir. 1993); Cosmas v. Hassett, 886 F.2d 8, 11 (2d Cir. 1989). Accordingly, the factual allegations considered herein and set forth below are taken from ...


Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.