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April 10, 2008
CCU Summary J. Motion
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Comments
If the NY case was a claim only for breach, the banks would easily have things ring-fenced
If I was the sitting Justice on the NY case, I'd want to hear more about the Buyer/Sponsors' claims for Fraud and Conspiracy
Further evidence might lead to a finding of "conspiracy to breach" using "bait and switch" (fraudulent representation) tactics, which if found existing, might result in a specific performance directive
So, I'd deny banks' motion for summary judgement, to see what parol evidence related to fraud and conspiracy comes out in the discovery process.
As for the breach claim, banks are likely correct, ie no breach with time remaining
Posted by: mike | Apr 11, 2008 9:44:09 PM
