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CNH L.P. v. CLEVELAND INC.

No. 42.

36 N.Y.3d 1 (2020)

160 N.E.3d 667

136 N.Y.S.3d 199

2020 NY Slip Op 05976

CNH DIVERSIFIED OPPORTUNITIES MASTER ACCOUNT, L.P., et al., Appellants, v. CLEVELAND UNLIMITED, INC., et al., Respondents.

Court of Appeals of New York.

Decided October 22, 2020.

Attorney(s) appearing for the Case

Faegre Drinker Biddle & Reath LLP, New York City ( James H. Millar , Clay J. Pierce , Richard M. Haggerty and Mark D. Taticchi of counsel), for appellants.

Holwell Shuster & Goldberg LLP, New York City ( James M. McGuire , Daniel M. Sullivan and Scott M. Danner of counsel), and Dechert LLP, New York City ( Allan S. Brilliant , Debra D. O'Gorman and Brendan Herrmann of counsel), for respondents.

OPINION OF THE COURT

After the issuer defaulted, plaintiffs, the holders of a minority in principal amount of senior secured debt, brought this lawsuit against the debtor and its guarantors to recover payment of principal and interest. We are called upon to determine whether plaintiffs...

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