LANTAU HOLDINGS LTD. v. GENERAL PACIFIC GROUP LTD.

7037. 650085/17.

163 A.D.3d 407 (2018)

81 N.Y.S.3d 384

2018 NY Slip Op 04952

Lantau Holdings Ltd., Respondent-Appellant, v. General Pacific Group Ltd., Appellant-Respondent, et al., Defendants.

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

Decided July 3, 2018.


Plaintiff Lantau Holdings Ltd. is a securities repurchase lender, which means it typically lends money to borrowers in exchange for publicly traded securities, which it holds as collateral. In this case, Rex Global Entertainment Holdings Limited, a Hong Kong entity listed on the Hong Kong Stock Exchange (Rex) issued stock to two borrowers in April 2016. The two borrowers then entered into various loan documents with Lantau to exchange the Rex stock for loans. In these documents...

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