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INTERNATIONALE NEDERLANDEN (U.S.) CAPITAL CORPORATION v. BANKERS TRUST COMPANY

261 A.D.2d 117 (1999)

689 N.Y.S.2d 455

INTERNATIONALE NEDERLANDEN (U.S.) CAPITAL CORPORATION et al., Appellants, et al., Plaintiffs, v. BANKERS TRUST COMPANY et al., Respondents.

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

Decided May 4, 1999.

This action arises out of the reorganization of Hillsborough Holdings Corp. and related entities (the Debtors). Plaintiffs were beneficial owners of notes issued by the Debtors. The Bankruptcy Court set up an election in which creditors such as plaintiffs were required to vote for one of the competing reorganization plans, and also to select the type of distribution they wanted in exchange for their notes (e.g., various combinations of cash, notes or common stock in...

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