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STONEHILL v. BANK OF THE W.

No. 191.

28 N.Y.3d 439 (2016)

68 N.E.3d 683

45 N.Y.S.3d 864

2016 NY Slip Op 08481

STONEHILL CAPITAL MANAGEMENT LLC et al., Appellants, v. BANK OF THE WEST et al., Respondents.

Court of Appeals of New York.

Decided December 20, 2016.

Attorney(s) appearing for the Case

Law Offices of Martin Eisenberg, New York City (Martin Eisenberg of counsel), for appellants.

Katten Muchin Rosenman LLP, New York City (David A. Crichlow and Gregory C. Johnson of counsel), for Bank of the West, respondent.

Hoguet Newman Regal & Kenney, LLP, New York City (Damian R. Cavaleri, Laura B. Hoguet and Jeffrey A. Miller of counsel), for Mission Capital Advisors, LLC, respondent.

Richard Kibbe & Orbe LLP, New York City (Brian S. Fraser, Robyn H. Frumkin, Katherine Kern Harrington and Rachel S. Mechanic of counsel), for Loan Syndications and Trading Association, amicus curiae.

OPINION OF THE COURT

Plaintiffs Stonehill Capital Management LLC, Stonehill Institutional Partners, L.P. and Stonehill Master Fund Ltd. (collectively Stonehill) are affiliated commercial entities that seek to enforce the auction sale of a syndicated loan against defendant Bank of the West (BOTW). BOTW concedes that it accepted...

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