Kasowitz Defeats Defendants’ Motion to Dismiss and Secures Partial Summary Judgment in Breach of Fiduciary Duty Suit

Kasowitz, on behalf of Omis Global Limited (“Omis”) and derivatively on behalf of 23 Global Films, LP (the “Partnership”), has defeated a motion to dismiss and obtained partial summary judgment in ongoing litigation against 23 Global Films GP, LLC (the “General Partner”), Lin Yu Wang, and Sbaiti & Company PLLC (“Sbaiti”).
 
Omis, the Partnership’s majority investor and a limited partner, sued the General Partner and Lin Yu Wang for breach of fiduciary duties and violations of the Limited Partnership Agreement.  Omis alleged that after the lawsuit commenced, the General Partner entered into an unlawful fee agreement with Sbaiti that tripled the firm’s standard fees—a provision Omis contends was adopted as an improper litigation tactic designed to pressure Omis and shift the cost of the General Partner’s defense onto the Partnership.
 
Kasowitz moved for summary judgment seeking a declaration that the guaranty, and the general partner’s demand for advancement thereunder, exceeded the permissible scope of the partnership agreement and Texas law.  Sbaiti, through its counsel at McKool Smith, separately moved to dismiss, arguing that the Court lacked subject matter jurisdiction over the claims against it.
 
On November 10, 2025, the Court issued an Order denying Defendants’ motion to dismiss and granting Omis partial summary judgment, deeming the General Partner’s advancement demands “invalid” and limiting the guaranty to the permissible scope of Texas law.  As reflected in the Court’s order, defense counsel stipulated at oral argument to the main relief requested by Omis’s motion: neither the general partner nor its counsel would seek payment from the Partnership until indemnification was ordered by the Court, if ever.  
 
The Court’s ruling clears the way for Omis to proceed with its claims without the threat that the general partner will divert Partnership funds to pay for its defense.
 
The Kasowitz team representing Omis is led by partner Nicholas A. Rendino and includes associates Andrew C. Bernstein, Zachary N. Josephs, and William Wolfe (“Volvi”) Taub, and includes local counsel Dean Pamphilis and Nathan Richardson of Sheppard Mullin.