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NINETEEN EIGHTY-NINE, LLC v. ICAHN

3925, 601265/07.

155 A.D.3d 566 (2017)

66 N.Y.S.3d 455

2017 NY Slip Op 08436

NINETEEN EIGHTY-NINE, LLC, Appellant, v. CARL C. ICAHN et al., Respondents.

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

Decided November 30, 2017.

In November 2001, defendant Chelonian Subsidiary, LLC, controlled by defendant Carl C. Icahn, and 1989 Ltd., formed 1879 Hall, LLC (Hall), a Delaware limited liability corporation. 1989 Ltd. assigned its interest to plaintiff, Nineteen Eighty-Nine, LLC, controlled by Q Investments.

The sole purpose of Hall was "to acquire, hold, own and dispose of ... Securities and Claims" of Federal-Mogul Corporation (FMO), an auto parts manufacturer that was in bankruptcy. Under...

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