Defendant Madison Capital Holdings LLC purchased lease "designation rights," i.e., the right to designate one or more assignees, for a sub-sublease with plaintiff, from a bankruptcy estate. It then assigned the sub-sublease to defendant MC Long Term Holdings, LLC, an entity formed by Madison's principal, defendant J. Joseph Jacobson. MC Long Term defaulted on its obligations under the sub-sublease, and plaintiff brought this action asserting, as relevant on appeal, claims...
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