Smith et al v. Smith, III et al

Filing 72

OPINION & ORDER re: 62 MOTION for Summary Judgment . filed by 50 East 69th Street Corporation, James W. Smith, III, Nancy K. Smith, Center for Specialty Care, Inc., Lucinda Smith Hay. For the reasons above, the Court grants the motion for summary judgment as to plaintiffs' claim of fiduciary duty breach against CSC, but denies that motion as to the claim of a fiduciary duty breach against the Individual Defendants. As to the Individual Defendants, plaintiffs' c laim of a breach of duty in connection with 50 East's Lease Termination payment is viable, but the claim of a breach of duty in connection with the reduction of CSC's rent obligations is not. This case will now proceed to trial. The Cou rt directs the parties to confer, and by April 26, 2019, to file a joint letter apprising the Court of the anticipated length of the trial. Barring notice that the case is on track for a prompt settlement, the Court expects then promptly to set a schedule requiring submission, in late May, of a Joint Pretrial Order and the other required pretrial filings set forth in the Court's Individual Rules. The Court respectfully directs the Clerk of Court to terminate CSC as a defendant in this case and to terminate the motion pending at Dkt. 62. SO ORDERED. (Center for Specialty Care, Inc. terminated.) (Signed by Judge Paul A. Engelmayer on 4/19/2019) (anc)