Gryphon Domestic VI, LLC v. APP International Finance Co.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Catterson, J.
In June 1994, the defendant Indah Kiat International Finance Company B.V (hereinafter referred to as Indah Kiat International or the issuer), a Dutch corporation, issued $200 million of 11⅞% guaranteed secured notes due in 2002 (hereinafter referred to as the notes). The defendant PT. Indah Kiat Pulp & Paper Corporation (hereinafter referred to as ET. Indah Kiat or the guarantor), an Indonesian corporation, guaranteed payment. The notes were secured by collateral located in Indonesia.
It is uncontested that the notes, and the indenture pursuant to which they…
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