STRUCTURED CREDIT PARTNERS, LLC v. PAINE-WEBBER INC.


306 A.D.2d 132 (2003)

760 N.Y.S.2d 316

STRUCTURED CREDIT PARTNERS, LLC, Appellant, v. PAINE-WEBBER INC., Respondent.

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

Decided June 17, 2003.


Plaintiff's breach of contract claim alleging defendant's unjustified reduction of the arbitrage vehicle's profitability, and resulting elimination of a large part of plaintiff's expected profit from the transaction, was properly dismissed in view of the provisions in the parties' agreements that defendant's arbitrage profit calculations "shall be binding and final absent manifest error" (see Matter of Hermance v Board of Supervisors, 71 N.Y. 481, 486 [1877]) and that...

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