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BOLAND v. INDAH KIAT FINANCE (IV) MAURITIUS LIMITED

291 A.D.2d 342 (2002)

739 N.Y.S.2d 122

DAVID J. BOLAND, as Trustee of the BELOIT LIQUIDATING TRUST, Appellant, v. INDAH KIAT FINANCE (IV) MAURITIUS LIMITED et al., Respondents.

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

Decided February 28, 2002.

By motion for summary judgment in lieu of complaint (CPLR 3213), plaintiff seeks the balance of a promissory note issued by defendants pursuant to an indenture. The note provides for acceleration of the balance in case of an event of default and refers to the indenture for the definition of "event of default" and for the procedure for implementing acceleration. Defendants contend that CPLR 3213 is unavailable to plaintiff because the extent of the obligation cannot be determined...

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