Lenders’ Jackie Robinson Contract Claims Survive Challenge

A company accused of falsely claiming it was the sole owner of Jackie Robinson contracts worth more than $36 million can’t dismiss a claim by intervening secured creditors seeking a declaration that a foundation doesn’t own the contracts, the Southern District of New York said.

In the underlying case, the Securities and Exchange Commission alleges that the representations of Mykalai Kontilai and his company, Collector’s Coffee Inc., doing business as Collectors Cafe, were false and misleading because CCI didn’t own a 100% interest in the contracts, and there was “substantial doubt about the $36 million valuation.”

The intervening plaintiffs, identified ...