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INTEGRATED URBAN HOLDINGS, LLC v. VORNADO HARLEM PARK LLC

1403, 652138/13.

140 A.D.3d 460 (2016)

31 N.Y.S.3d 874

2016 NY Slip Op 04358

INTEGRATED URBAN HOLDINGS, LLC, et al., Appellants, v. VORNADO HARLEM PARK LLC et al., Respondents.

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

Decided June 7, 2016.

The court properly dismissed plaintiffs' breach of contract claim under Delaware law (see GMG Capital Invs., LLC v Athenian Venture Partners I, L.P., 36 A.3d 776, 780 [Del 2012]). Plaintiffs were not entitled to a profit distribution under the parties' unambiguous agreement after the property, that was the subject of the agreement, was sold for a loss, taking into account the developer defendants' capital contributions to the company...

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