Defendant Produbanco is not a signatory to the letter of intent (LOI) that contains the forum selection clause. The LOI contemplates a sale to plaintiff of some 58% of the shares of Produbanco by certain shareholders. It is clear from the nature of the transaction that Produbanco has no obligations and no rights implicated in it. Thus, Produbanco cannot be bound by the forum selection clause (see Tate & Lyle Ingredients Ams., Inc. v Whitefox Tech. USA, Inc.,
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PROMERICA FINANCIAL CORPORATION v. INMOHOLDINGS INC.
10329, 650082/12-2646.
107 A.D.3d 474 (2013)
968 N.Y.S.2d 434
2013 NY Slip Op 4290
PROMERICA FINANCIAL CORPORATION, Appellant, v. INMOHOLDINGS INC. et al., Respondents.
Appellate Division of the Supreme Court of New York, First Department.https://leagle.com/images/logo.png
Decided June 11, 2013.
Decided June 11, 2013.
Appellate Division of the Supreme Court of New York, First Department.
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