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SEMI-TECH LITIGATION, L.L.C. v. TING

13 A.D.3d 185 (2004)

787 N.Y.S.2d 234

SEMI-TECH LITIGATION, L.L.C., Respondent-Appellant, v. JAMES H. TING et al., Appellants, and ERNST & YOUNG LLP (an Ontario Limited Liability Partnership), Appellant-Respondent, et al., Defendants.

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

December 16, 2004.

This is an action brought by an entity created by the Bankruptcy Court to pursue claims for the benefit of the corporate debtor's estate, where the chapter 11 confirmed plan assigned the debtor's claims to plaintiff. Many of the creditors are noteholders subject to a 1993 trust indenture. Plaintiff alleges that former officers and directors of the debtor and its subsidiaries caused the debtor to engage in prohibited transactions that constituted defaults under the indenture...

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