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TRAVELERS INS. CO. v. 633 THIRD ASSOCIATES

No. 253, Docket 93-7270.

14 F.3d 114 (1994)

The TRAVELERS INSURANCE COMPANY, Plaintiff-Appellant, v. 633 THIRD ASSOCIATES, Tower 41 Associates, Joseph T. Comras, Stanley Stahl, Robert Carmel and Citibank, N.A. as Trustee of Citibank, N.A. Commingled Employee Benefit Trust, Defendants-Appellees.

United States Court of Appeals, Second Circuit.

Decided January 4, 1994.

Attorney(s) appearing for the Case

David Fleischer, New York City (Battle Fowler, Stewart Klein, of counsel), for plaintiff-appellant.

John Linsenmeyer, New York City (Richard A. Mescon, Thomas R. Stritter, Morgan, Lewis & Bockius, of counsel), for defendants-appellees 633 Third Associates, Tower 41 Associates, Joseph T. Comras, Stanley Stahl, and Robert Carmel.

Marc S. Kirschner, New York City (Robert W. Gaffey, Jones, Day, Reavis & Pogue, of counsel), for defendant-appellee Citibank, N.A., as Trustee of Citibank, N.A. Commingled Employee Benefit Trust.

Before: OAKES and MAHONEY, Circuit Judges, and MISHLER, Senior District Judge.

OAKES, Senior Circuit Judge:

I. BACKGROUND

This dispute is before this court for a second time. See Travelers Ins. Co. v. 633 Third Assocs., 973 F.2d 82 (2d Cir.1992) ("Travelers I"). It is useful, however, to reiterate the basic facts.

In 1986, plaintiff, The Travelers Insurance Company ("Travelers"), a Connecticut corporation, loaned $145 million to defendant 633 Third Associates ("Partnership"),...

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