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OMNI BERKSHIRE CORP. v. WELLS FARGO BANK, N.A.

No. 02 Civ. 7378(DC).

307 F.Supp.2d 534 (2004)

OMNI BERKSHIRE CORP. et al., Plaintiffs, v. WELLS FARGO BANK, N.A., Defendant.

United States District Court, S.D. New York.

February 25, 2004.

Attorney(s) appearing for the Case

Baker Botts L.L.P., By: Neil P. Sirota, New York City, Van H. Beckwith, Dallas, TX, for Plaintiffs.

Sidley, Austin, Brown & Wood, LLP, By: James J. Sabella, John J. Lavelle, New York City, Stephen C. Carlson, Jonathan I. Katz, Chicago, IL, for Defendant.

MEMORANDUM DECISION

CHIN, District Judge.

In this case, plaintiffs borrowed $250 million in 1998 (the "Loan") pursuant to an agreement (the "Agreement"), secured by five hotels. The Agreement required plaintiffs to obtain and maintain certain insurance, including "comprehensive all risk insurance" on the hotels as well as "such other reasonable insurance" as the lender might request. Prior to September 11, 2001, plaintiffs did not have separate insurance...

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