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UNIVERSAL INV v. BAKRIE

652890/14.

154 A.D.3d 171 (2017)

2017 NY Slip Op 06344

62 N.Y.S.3d 1

UNIVERSAL INVESTMENT ADVISORY SA et al., Appellants-Respondents, v. BAKRIE TELECOM PTE., LTD., et al., Respondents-Appellants, and PT BAKRIE & BROTHERS TBK et al., Respondents.

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

Decided August 29, 2017.

Attorney(s) appearing for the Case

Greenberg Traurig, LLP, New York City ( James W. Perkins and Anne C. Reddy of counsel), and Hal Hirsch, New York City, for appellants-respondents.

Schnader Harrison Segal & Lewis LLP, New York City ( Theodore L. Hecht , Kenneth R. Puhala and Jessica M. Lau of counsel), for respondents-appellants and respondents.

TOM, J.P., MOSKOWITZ and GISCHE, JJ., concur.

OPINION OF THE COURT

This case arises out of an issuer's and guarantors' default in the payment of notes that were publicly offered in the international financial markets. Defendant PT Bakrie Telecom Tbk (BTEL) is a telecommunications company organized under the laws of Indonesia and is the parent of defendant Bakrie Telecom...

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