Sumitomo Mitsui Banking Corp. v. Credit Suisse
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
In 2006, Credit Suisse and other lenders, including plaintiff, entered into a $5.5 billion unsecured credit agreement (the 2006 credit agreement) with nonparty Capmark Financial Group, Inc. (Capmark). Credit Suisse and other lenders also entered a $5.25 billion unsecured bridge loan agreement (the bridge loan) with Capmark. Plaintiff was not a bridge loan lender, but purchased a $200 million participation interest therein from Credit Suisse.
The participation agreement provides that upon receipt by Credit Suisse of any “cash Distribution,” Credit Suisse shall pay plaintiff its pro rata share,…
2Cases cited8 opinions
- Zuckerman v. City of New YorkNew York Court of Appeals · 1980
- Alvarez v. Prospect HospitalNew York Court of Appeals · 1986
- Guzman v. L.M.P. Realty Corp.Appellate Division of the Supreme Court of the State of New York · 1999
- In Re Capmark Financial Group Inc.United States Bankruptcy Court, D. Delaware · 2010
- Koren v. WeihsAppellate Division of the Supreme Court of the State of New York · 1994
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3Cited by8 opinions
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- 20 Plaza Housing Corp. v. 20 Plaza East RealtyNew York Supreme Court · 2012
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