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JUSTINIAN SPC v. WESTLB AG

No. 155

28 N.Y.3d 160 (2016)

65 N.E.3d 1253

43 N.Y.S.3d 218

2016 NY Slip Op 07047

JUSTINIAN CAPITAL SPC, for and on Behalf of BLUE HERON SEGREGATED PORTFOLIO, Appellant, v. WESTLB AG, NEW YORK BRANCH, et al., Respondents.

Court of Appeals of New York.

Decided October 27, 2016.

Attorney(s) appearing for the Case

Grant & Eisenhofer P.A., New York City (James J. Sabella, Jay W. Eisenhofer, Deborah A. Elman and Robert D. Gerson of counsel), for appellant.

Hughes Hubbard & Reed LLP, New York City (Christopher M. Paparella, Marc A. Weinstein, Savvas A. Foukas and Seth Schulman-Marcus of counsel), for respondents.

Kellogg, Huber, Hansen, Todd, Evans & Figel, P.L.L.C., Washington, D.C. (Derek T. Ho of counsel), and Burford Capital LLC, New York City (Melissa P. Sobel of counsel), for Burford Capital LLC, amicus curiae.

OPINION OF THE COURT

The concept of champerty dates back to French feudal times (Bluebird Partners v First Fid. Bank, 94 N.Y.2d 726, 733-734 [2000]). In the English legal system, the word "champart" was used "as a metaphor to indicate a disapproval of lawsuits brought `for...

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