1. Home
  2. Browse Decisions
  3. A.D.3d
  4. 84 A.D.3d
  5. 84 A.D.3d 671 (2011)
 

MOLECULAR SECURITIES, INC. v. TYRATECH, INC.

5189, 602892/08.

84 A.D.3d 671 (2011)

923 N.Y.S.2d 524

MOLECULAR SECURITIES, INC., Appellant-Respondent, v. TYRATECH, INC., Respondent-Appellant.

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

Decided May 26, 2011.

Under the plain language of the letter agreement, the conveyance of TyraTech common stock held by XL Tech Inc. in satisfaction of the debt it owed to a third-party investor was not a "Transaction" triggering the $3 million "closing fee" owed to Molecular. That conveyance, a strict foreclosure under UCC article 9, was not a "sale of part or all of the shares of TyraTech Common Stock held by XL Tech," and in order to give effect to all the letter agreement's provisions, the...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases