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DAVIS v. SCOTTISH RE GROUP

654027/13, 15565.

160 A.D.3d 114 (2018)

73 N.Y.S.3d 533

2018 NY Slip Op 01889

PAUL DAVIS, Appellant, v. SCOTTISH RE GROUP LIMITED et al., Respondents, et al., Defendants.

Appellate Division of the Supreme Court of New York, First Department.

Decided March 20, 2018.

Attorney(s) appearing for the Case

Boies, Schiller & Flexner LLP, New York City (Eric Brenner and Matthew Tripolitsiotis of counsel), Guzov, LLC, New York City (Debra J. Guzov and David J. Kaplan of counsel), and Bolatti & Associates, New York City (Silvia Bolatti of counsel), for appellant.

Schulte Roth & Zabel LLP, New York City (Howard O. Godnick and Andrew D. Gladstein of counsel), for Cerberus Capital Management L.P. and Another, respondents.

Mayer Brown LLP, New York City (Jean-Marie L. Atamian and James Ancone of counsel), for Scottish Re Group Limited and Others, respondents.

Quinn Emanuel Urquhart & Sullivan LLP, New York City (Jennifer J. Barrett and Joshua S. Margolin of counsel), for Massachusetts Mutual Life Insurance Company, respondent.

MANZANET-DANIELS, TOM and ANDRIAS, JJ., concur.

OPINION OF THE COURT

This matter was remitted to this Court by the Court of Appeals to determine whether plaintiff, an owner of ordinary shares in defendant Scottish Re Group Limited (Scottish Re), a Cayman Islands company, has standing to assert derivative claims against the company's directors and investors under Foss...

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