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SIGNAL CAPITAL HOLDINGS CORP. v. BANC OF AM. LEASING & CAPITAL, LLC

8837N, 651192/11, 8837NA.

101 A.D.3d 488 (2012)

954 N.Y.S.2d 871

2012 NY Slip Op 8640

SIGNAL CAPITAL HOLDINGS CORP., Individually, as Successor in Interest by Assignment and Merger to SCAP ASSOCIATES, L.L.C., Respondent, v. BANC OF AMERICA LEASING & CAPITAL, LLC, as Successor in Interest to FIRST OF ST. LOUIS LEASING CORPORATION No. 1 and Another, et al., Appellants.

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

December 13, 2012.

This dispute over the meaning of the ambiguous contract term "the date of scheduled expiration of the Leases" does not fall within the parties' narrow alternative dispute resolution (ADR) clause providing for an independent financial professional to verify certain calculations based on a dollar figure for rental income as of that date (see McDonnell Douglas Fin. Corp. v Pennsylvania Power & Light Co., 858 F.2d 825 [2d Cir 1988...

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