FEDER v. UNION CARBIDE CORP.


141 A.D.2d 799 (1988)

Michael M. Feder, on Behalf of Himself and All Other Holders of Convertible Subordinated Debentures of Union Carbide Corporation Similarly Situated, Appellant, v. Union Carbide Corporation, Respondent. (Action No. 1.) Cubit Corporation, Appellant, v. Union Carbide Corporation, Respondent. (Action No. 2.) Congregation Aderes Eliyuh Kolel Orschos Hemishpitan Corporation, Appellant, v. Union Carbide Corporation, Respondent. (Action No. 3.)

Appellate Division of the Supreme Court of the State of New York, Second Department.

June 27, 1988


Ordered that the order is affirmed insofar as appealed from, without costs or disbursements.

We agree with the trial court that the plaintiffs may not maintain this consolidated action because they failed to comply with the requirement of section 6.06 of the indenture under which the convertible debentures which are the basis for this suit were issued. Section 6.06 places a limitation on suits by individual debenture holders...

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