The Chase Manhattan Bank, as Indenture Trustee, Under the Indenture, Dated as of May 6, 1998 v. Traffic Stream (Bvi) Infrastructure Limited
Court of Appeals for the Second Circuit
1Per curiam
BACKGROUND
Traffic Stream (BVI) Infrastructure Limited (“Traffic Stream”), incorporated in the British Virgin Islands, is the parent of four wholly owned Hong Kong subsidiaries. Through these subsidiaries, Traffic Stream owns interests in thirteen Chinese-foreign cooperative joint ventures. Each joint venture is a partnership between one of the Hong Kong subsidiaries and a Chinese partner. The joint ventures are all engaged in the development, construction, and operation of six toll-road projects in China.
The contracts governing the joint ventures guarantee the Hong Kong subsidiaries a fixed…
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