Blue Wolf Capital Fund II, L.P. v. American Stevedoring, Inc.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Freedman, J.
This foreclosure action arises from a secured loan that plaintiff Blue Wolf, an investment firm, made to defendant American Stevedoring, Inc. (ASI), an incorporated stevedore business. The parties sharply disagree about many of the circumstances surrounding the loan, but the following is not in dispute: in December 2009, ASI was suffering a self-described “cash crunch” and needed immediate financing to meet its current liabilities, including payroll. After negotiations, the parties agreed to a framework in which Blue Wolf would provide funds to ASI to keep the…
2Cases cited15 opinions
- Hammelburger v. Foursome Inn Corp.New York Court of Appeals · 1981
- Seidel v. 18 East 17th Street Owners, Inc.New York Court of Appeals · 1992
- Giventer v. ArnowNew York Court of Appeals · 1975
- Szerdahelyi v. HarrisNew York Court of Appeals · 1986
- Band Realty Co. v. North Brewster, Inc.New York Court of Appeals · 1975
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