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CRG FIN. LLC v. AMLOID CORP.

Index No. 652552/18. Appeal No. 13092. Case No. 2020-01999.

191 A.D.3d 461 (2021)

142 N.Y.S.3d 152

2021 NY Slip Op 00792

CRG Financial LLC, Appellant, v. Amloid Corporation, Respondent.

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

Decided February 9, 2021.

Attorney(s) appearing for the Case

Law Offices of Martin Eisenberg, White Plains ( Martin Eisenberg of counsel), for appellant.

Montgomery McCracken Walker & Rhoads LLP, New York ( Matthew A. Bondy of counsel), and Ice Miller LLP, Chicago, IL ( Jason M. Torf , of the bar of the State of Illinois, admitted pro hac vice, of counsel), for respondent.

Concur—Manzanet-Daniels, J.P., Gische, González, Shulman, JJ.

In November 2017, Toys R Us filed a bankruptcy petition. Defendant had an administrative expense claim (Administrative Claim), meaning a claim for goods delivered to Toys R Us within 20 days of the bankruptcy filing, in the amount of $194,530. Plaintiff purchased the Administrative Claim from defendant for 70% of its face value. In bolded language, the parties' agreement provided that plaintiff assumed the risk of recovering less than the purchase price in the Toys R Us bankruptcy...

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