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INTERNATIONAL FLAVORS & FRAGRANCES, INC. v. ST. PAUL PROTECTIVE INS. CO.

8017, 8017A, 601723/08.

98 A.D.3d 854 (2012)

950 N.Y.S.2d 521

2012 NY Slip Op 6110

INTERNATIONAL FLAVORS & FRAGRANCES, INC., et al., Respondents, et al., Plaintiff, v. ST. PAUL PROTECTIVE INSURANCE COMPANY et al., Appellants.

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

September 11, 2012.

In January 1990, plaintiff BBA purchased all the common stock in its competitor, Food Materials Corporation (FMC), an Illinois corporation engaged in the distribution, manufacture and/or sale of butter flavoring products, in exchange for $10 million in cash. FMC remained an independent and viable legal entity, retaining all of its pre-acquisition assets, obligations and liabilities, until January 1991, when BBA dissolved it, took its assets, and continued to operate the FMC...

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