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NEW MEDIA v. KAGALOVSKY

10241, 603742/09, 650754/09.

118 A.D.3d 68 (2014)

985 N.Y.S.2d 216

2014 NY Slip Op 2888

NEW MEDIA HOLDING COMPANY, L.L.C., Respondent, v. KONSTANTIN KAGALOVSKY et al., Appellants, et al., Defendants. KONSTANTIN KAGALOVSKY et al., Counterclaim Plaintiffs-Appellants, v. VLADIMIR GUSINSKI et al., Counterclaim Defendants-Respondents. NEW MEDIA DISTRIBUTION COMPANY L.L.C., Respondent, v. IOTA VENTURES LLP et al., Appellants.

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

Decided April 29, 2014.

Attorney(s) appearing for the Case

Hoguet Newman Regal & Kenney, LLP, New York City ( Fredric S. Newman , Joshua D. Rievman , Jeffrey A. Miller and Damian R. Cavaleri of counsel), for appellants.

Covington & Burling LLP, New York City ( C. William Phillips and Christopher Y.L. Yeung of counsel), for respondents.

SWEENY, J.P. SAXE, GISCHE and CLARK, JJ., concur.

OPINION OF THE COURT

MOSKOWITZ, J.

This appeal arises from a business transaction between Konstantin Kagalovsky and Vladimir Gusinski, both of whom are successful businesspeople. Before becoming involved in the media venture at issue in this case — Iota Ventures LLP (the partnership) a partnership formed for the purpose of owning, developing and operating a Ukranian television network called TVi — Gusinski developed and operated Russian-language...

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