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ELLIOTT INTERNATIONAL L.P. v. VITRO, S.A.B. DE C.V.

Nos. 7596, 7597, 7598, 7599, 652146/10, 652223/10, 1721, 1725.

95 A.D.3d 565 (2012)

945 N.Y.S.2d 1

2012 NY Slip Op 3725

ELLIOTT INTERNATIONAL L.P. et al., Respondents, v. VITRO, S.A.B. DE C.V. et al., Defendants, and VIMEXICO, S.A. DE C.V., et al., Appellants. AURELIUS OPPORTUNITIES FUND IV, LTD., Respondent, v. VITRO, S.A.B. DE C.V., et al., Defendants, and VIMEXICO, S.A. DE C.V., et al., Appellants.

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

Decided May 10, 2012.

Defendants waived the defense of limitation on liability, pursuant to the fraudulent conveyance savings clause provision in a series of indentures guaranteed by them. Defendants failed to raise the defense in their answer to the complaint (see e.g. Art Masters Assoc. v United Parcel Serv., 77 N.Y.2d 200, 204 [1990], Maklihon Mfg. Corp. v Air-City, Inc., 224 A.D.2d 187 [1996]). In any event...

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