Justinian Capital SPC, for and on Behalf of Blue Heron Segregated Portfolio, Appellant v. WestLB AG, New York…

Summary

The Court affirmed the Appellate Division, holding that Justinian Capital's acquisition of the notes was champertous because the sole purpose was to bring litigation, and that the transaction did not qualify for the safe‑harbor exemption under Judiciary Law § 489(2) because there was no binding and bona fide obligation to pay at least $500,000. The dissent argued that intent is a factual issue unsuitable for summary judgment and would reverse the judgment.