Pine Street Associates, L.P. v. Southridge Partners, L.P.

OPINION OF THE COURT

Acosta, J.

The primary issue in this case is whether the tender of secu*97rities to petitioner by respondent Southridge Partners, L.P., an investment fund (the fund), satisfies respondent’s obligation under an arbitral award to complete the redemption of petitioner’s interest in the fund in cash or in kind. We hold that South-ridge owes petitioner the same dollar amount regardless of whether it chooses to satisfy its obligation “in cash” or “in kind.” We thus reverse Supreme Court’s orders and remand for an evidentiary hearing to determine whether the obligation has been met.

In…