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CIBC BANK & TRUST COMPANY (CAYMAN) LIMITED v. LYONNAIS

270 A.D.2d 138 (2000)

704 N.Y.S.2d 574

CIBC BANK & TRUST COMPANY (CAYMAN) LIMITED, as Trustee of the EXPLORER FUND and the EMERGING MARKET CURRENCY FUND, Appellant, v. CREDIT LYONNAIS, Respondent.

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

Decided March 21, 2000.

Although on a motion to dismiss for failure to state a cause of action the facts pleaded are presumed to be true and accorded every favorable inference, allegations consisting of bare legal conclusions, as well as factual claims that are contradicted by documentary evidence, are not entitled to such consideration (see, Quatrochi v Citibank, 210 A.D.2d 53). The IAS Court properly dismissed plaintiff's breach of contract claims since...

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