KERN, SUSLOW SECURITIES, INC. v. BAYTREE ASSOCIATES, INC.


264 A.D.2d 639 (1999)

695 N.Y.S.2d 343

KERN, SUSLOW SECURITIES, INC., Respondent-Appellant, v. BAYTREE ASSOCIATES, INC., Appellant-Respondent.

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

Decided September 23, 1999.


Plaintiff is a securities broker-dealer, defendant is an investment firm which, among other things, acts as an offering agent for companies issuing Regulation S securities, which are unregistered securities sold to foreign investors. In mid-1993, these parties entered into an agreement, undated and without a starting or termination date, that in relevant part states as follows:

"Baytree Associates is planning to act as...

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