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BLUE WOLF FUND v. AMERICAN

651560/10, 9119.

105 A.D.3d 178 (2013)

961 N.Y.S.2d 86

2013 NY Slip Op 1483

BLUE WOLF CAPITAL FUND II, L.P., Appellant, v. AMERICAN STEVEDORING, INC., Respondent, and GENERAL ELECTRIC CAPITAL CORPORATION et al., Nominal Defendants.

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

Decided March 7, 2013.

Attorney(s) appearing for the Case

Patrick F. McManemin , New York City and Peter R. Ginsberg Law, LLC, New York City ( Peter R. Ginsberg and Christopher Deubert of counsel), for appellant.

Weiss & Hiller, PC, New York City ( Michael S. Hiller of counsel), for respondent.

GONZALEZ, P.J., FRIEDMAN, MOSKOWITZ and DEGRASSE, JJ., concur.

OPINION OF THE COURT

FREEDMAN, J.

This foreclosure action arises from a secured loan that plaintiff Blue Wolf, an investment firm, made to defendant American Stevedoring, Inc. (ASI), an incorporated stevedore business. The parties sharply disagree about many of the circumstances surrounding the loan, but the following is not in dispute: in December 2009, ASI was suffering a self-described "cash crunch" and needed immediate financing to meet its current liabilities...

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