Sutton, Ltd. v. Elizabeth Wyckoff (individually and as Executrix of the estate of E. Lisk Wyckoff, deceased) and Hyde Park Associates LLC

CourtDistrict Court, D. Connecticut
DecidedMarch 31, 2026
Docket3:22-cv-01255
StatusUnknown

This text of Sutton, Ltd. v. Elizabeth Wyckoff (individually and as Executrix of the estate of E. Lisk Wyckoff, deceased) and Hyde Park Associates LLC (Sutton, Ltd. v. Elizabeth Wyckoff (individually and as Executrix of the estate of E. Lisk Wyckoff, deceased) and Hyde Park Associates LLC) is published on Counsel Stack Legal Research, covering District Court, D. Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Sutton, Ltd. v. Elizabeth Wyckoff (individually and as Executrix of the estate of E. Lisk Wyckoff, deceased) and Hyde Park Associates LLC, (D. Conn. 2026).

Opinion

UNITED STATES DISTRICT COURT DISTRICT OF CONNECTICUT SUTTON, LTD., Plaintiff, : : v. : Civil No. 3:22-cv-01255 (OAW) : ELIZABETH WYCKOFF (individually : and as Executrix of the estate of E. : Lisk Wyckoff, deceased) and HYDE : PARK ASSOCIATES LLC, : Defendants. : RULING ON DEFENDANTS’ MOTION TO DISMISS THIS ACTION is brought by Plaintiff Sutton, Ltd. (hereinafter, “Sutton”) against Defendants Hyde Park Associates LLC (hereinafter, “HPA”) and Elizabeth Wyckoff (hereinafter, “Mrs. Wyckoff”), individually and in her capacity as Executrix of the estate of her deceased husband, E. Lisk Wyckoff (hereinafter, “Mr. Wyckoff”). ECF No. 38. Sutton alleges that Defendants “took advantage” of Mr. Wyckoff’s position as Sutton’s sole director to “steal” its assets and “conceal” their thefts. Id., ¶ 1. Defendants move the court to dismiss the operative Amended Complaint under Rule 12(b)(6) of the Federal Rules of Civil Procedure, for failure to state a claim. ECF Nos. 52, 53. The court carefully has reviewed the Motion to Dismiss, the parties’ memoranda of law, and the broader record in this action. See, e.g., ECF Nos. 38, 52, 53, 67, 81, 117. For all the following reasons, the Motion is DENIED.

I. BACKGROUND The following allegations are taken from the Amended Complaint and certain “public records that are integral to the underlying facts.” Errato v. Bendett & McHugh, PC, No. 3:23-CV-1674 (OAW), 2025 WL 1475508, at *1 (D. Conn. May 21, 2025) (providing that courts may “‘take judicial notice’” of such records when “‘considering a Rule 12(b)(6) motion’”) (quoting Roth v. Jennings, 489 F.3d 499, 509 (2d Cir. 2007)).

A. Sutton and Mr. Wyckoff

Sutton is a British Virgin Islands company incorporated in 1985 to “hold various assets and/or funds” of its ultimate beneficial owner.1 ECF No. 38, ¶ 19. At the time of its incorporation, Sutton issued a single “bearer share” certificate (hereinafter, the “Bearer Share”) consistent with the then-controlling International Business Companies Act of 1984 (hereinafter, the “IBC Act”). Id., ¶¶ 20, 21; see also ECF No. 53-1, at 2. Under such Act, whoever held the Bearer Share could exercise shareholder rights over Sutton, including by appointing directors.2 ECF No. 38, ¶¶ 21, 23; see also ECF No. 53-1, at 2. The IBC Act eventually was replaced by the BVI Business Companies Act of 2004 (hereinafter, the “BVIBC Act”), which required “all companies that had issued bearer

shares to deposit [them] with a custodian” or convert them into “registered shares” by December 31, 2009. ECF No. 38, ¶ 23. In 2000, Sutton entered into an agreement with Mr. Wyckoff, pursuant to which he was appointed a director in exchange for “accepting and undertaking extensive fiduciary obligations.” Id., ¶ 22. Mr. Wyckoff then served as Sutton’s “sole director” from 2004 until his death in 2012. Id., ¶¶ 22, 26.

1 Based on the record before the court, Sutton’s ultimate beneficial owner appears to be Prince Fahd Bin Abdullah Bin Mohammed Al-Saud of the Kingdom of Saudi Arabia, by virtue of his ownership of the “company that is the sole beneficiary of a trust that holds Sutton’s sole share.” ECF No. 114-1, at 2, 5. However, Prince Fahd is not a party to this case, and it appears that he “is not currently nor has he ever been a director, officer, managing agent, representative, or employee of Sutton.” Id. at 2, 5. 2 See also Sections 68(1) and (2) of the BVI Business Companies Act of 2004. B. Bearer Share Litigation Following Mr. Wyckoff’s death, Sutton’s sole shareholder, the Battersea Trust (hereinafter, “Battersea”) discovered that Mr. Wyckoff had “failed” to deposit or convert the Bearer Share before January 1, 2010, as was required by the BVIBC Act. Id., ¶¶ 21, 23–24, 41. The Bearer Share was “disabled” as of that date, and Battersea could not

exercise its shareholder rights over Sutton. Id., ¶¶ 23–26, 41. In particular, Battersea could not appoint any new directors to “exercise any of Sutton’s powers of redemption over the bearer share following [its sole director’s] death.” Id., ¶ 26. Accordingly, in 2015, Battersea brought an action3 in the British Virgin Islands seeking to “resolve the bearer share issue.” Id., ¶ 28. Three years later, following “extensive and lengthy court proceedings,” the Eastern Caribbean Supreme Court, Court of Appeal for the British Virgin Islands (hereinafter, the “BVI Court”), appointed a receiver for that purpose (hereinafter, the “Receiver”).4 Id., ¶¶ 8, 28, 41.

C. Section 1782 Proceedings Once duly appointed, the Receiver brought actions in the United States under 28 U.S.C. § 1782, including in this District (hereinafter, the “Section 1782 Proceedings”), seeking “documents and information about Sutton’s assets” from certain banks and Mrs. Wyckoff in her capacity as Executrix of Mr. Wyckoff’s estate. ECF No. 38, ¶¶ 28–35; see also In Re: Carter,19-mc-00102-JBA, ECF No. 1 (D. Conn. Aug. 20, 2019). Mrs. Wyckoff

3 Such action was brought by “the Bank of Nova Scotia Trust Company (Bahamas) Limited, in its capacity as trustee” of Battersea. ECF No. 38, ¶ 28. 4 Sutton represents that the BVI Court “empowered the Receiver only to assess this bearer share issue” and that “the Receiver could not act as a representative of the then-disabled Sutton to pursue any claims or lawsuits on its behalf.” ECF No. 38, at ¶¶ 8, 28. did not produce all responsive documents in her custody until January 29, 2021, despite being ordered to do so by the court (Hon. Janet Bond Arterton, USDJ) on September 5, 2019. ECF No. 38, ¶¶ 32–34; see also In Re: Carter,19-mc-00102-JBA, ECF No. 7 (D. Conn. Sept. 5, 2019). The court again ordered Mrs. Wyckoff to produce such documents and information on March 5, 2020, see In Re: Carter, 19-cv-1560-JBA, ECF Nos. 20

(proposed order), 21 (D. Conn. Mar. 5, 2020) (Hon. Robert M. Spector, USMJ), and to pay the Receiver $14,000 in attorney’s fees as a sanction for her non-compliance, see id., ECF No. 68 (D. Conn. Feb. 5, 2021) (Hon. Robert M. Spector, USMJ). As a result of the Receiver’s efforts, the BVI Court permitted Battersea to redeem the Bearer Share and appoint new directors for Sutton in 2021. ECF No. 38, ¶ 41.

D. Alleged Thefts and Concealment Information obtained from the Section 1782 Proceedings allegedly revealed that the Wyckoffs had “perpetuat[ed] a sweeping theft of millions of dollars from Sutton for

their personal use,” and had conspired to conceal their thefts to prevent Sutton from ever bringing a lawsuit to recover its stolen funds. Id., ¶¶ 35–39; see also id., ¶ 40 (accusing Defendants of “misappropriate[ing] Sutton’s fund through a developed modus operandi”). Specifically, Sutton alleges that the Wyckoffs opened an account at Webster Bank, N.A. in 2002 for their personally owned limited liability company, HPA (hereinafter, the “HPA Account”), and held themselves out as “doing business as Sutton” to transfer funds from Sutton’s bank accounts to the HPA Account. Id., ¶¶ 1, 37. The Wyckoffs then distributed the stolen funds from the HPA Account to themselves and their affiliates. Id., ¶¶ 38–39. At all relevant times, Sutton alleges that the HPA Account was “surreptitiously owned” by HPA and, ultimately, the Wyckoffs. Id., ¶¶ 11–13, 37. Sutton further alleges that Mr. Wyckoff “attempted to appoint Mrs. Wyckoff as his successor” as sole director through a “legally invalid agreement,” see id., ¶¶ 27, 46, 53, and that Mrs. Wyckoff “falsely held herself out” as having authority over Sutton to continue

transferring its funds into the HPA Account “at least through July 2020,” see id. ¶¶ 6, 25– 27, 46, 51–53.

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Bluebook (online)
Sutton, Ltd. v. Elizabeth Wyckoff (individually and as Executrix of the estate of E. Lisk Wyckoff, deceased) and Hyde Park Associates LLC, Counsel Stack Legal Research, https://law.counselstack.com/opinion/sutton-ltd-v-elizabeth-wyckoff-individually-and-as-executrix-of-the-ctd-2026.