SPI Communications, Inc. v. WTZA-TV Associates Ltd. Partnership
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtYesawich Jr., J.
These two related actions arise from a transaction wherein plaintiffs in action No. 1 (hereinafter plaintiffs) agreed to sell, and defendant (in action No. 1) WTZA-TV Associates Limited Partnership (hereinafter defendant) agreed to buy, substantially all of the assets of a television station located in the City of Kingston, Ulster County. By the terms of the asset purchase agreement defendant was to assume specified liabilities and execute a promissory note for the sum of $1,750,000, payable in December 2003.
In action No. 1, plaintiffs charge defendant with breach of contract (premised on…
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