The issue before us is whether defendants raise a viable "frustration of purpose" defense to plaintiffs' contractual indemnification claims. We hold that the defense is insufficient to defeat summary judgment.
On May 31, 2005, the parties consummated a transaction under which plaintiff PPF Safeguard, LLC (PPF) purchased a 94% interest in plaintiff Safeguard Storage Properties, LLC (Safeguard), a self-storage business which at the time was headquartered in New Orleans...
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