Legal Opinion
Tap Holdings, LLC v. Orix Finance Corp.
Appellate Division of the Supreme Court of the State of New York
Decided July 16, 2013Published
1Opinion of the Court
OPINION OF THE COURT
Mazzarelli, J.E
The defendants in this action, other than defendant Tap Automotive Holdings, LLP are a group of lenders* (the Senior Lenders) that extended loans, primarily via a “Senior Secured Credit Facility,” to nonparty Tap Operating Company, LLC (Tap), in connection with Tap’s acquisition of an automotive • company. The arrangement provided, among other things, for the Senior Lenders to take a security interest in substantially all of Tap’s assets. In addition, plaintiff Tap Holdings, LLC (Holdings) granted to the Senior Lenders a security interest in 100% of its Tap…
2Cases cited12 opinions
- Leon v. MartinezNew York Court of Appeals · 1994
- Morris v. New York State Department of Taxation & FinanceNew York Court of Appeals · 1993
- Schumacher v. Richards Shear Co.New York Court of Appeals · 1983
- TNS Holdings, Inc. v. MKI Securities Corp.New York Court of Appeals · 1998
- ABN AMRO Bank, N.V. v. MBIA Inc.New York Court of Appeals · 2011
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