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CASCADE, LP v. BANCORP BANK

Index No. 651841/2020.

75 Misc.3d 661 (2022)

168 N.Y.S.3d 276

2022 NY Slip Op 22134

CASCADE FUNDING, LP-SERIES 6, Plaintiff, v. THE BANCORP BANK, Defendant.

Supreme Court, New York County.

Decided April 21, 2022.

Attorney(s) appearing for the Case

Kasowitz Benson Torres LLP, New York City (Michael A. Hanin, Edward E. Filusch and Jill L. Forster of counsel), for plaintiff.

Schindler Cohen & Hochman LLP, New York City (Jonathan L. Hochman, Karen M. Steel and Juan Marcos Otazu Jara of counsel), for defendant.

OPINION OF THE COURT

This is a breach of contract case. Plaintiff (Cascade) agreed to acquire from defendant (Bancorp) a pool of more than $825 million in commercial mortgage loan assets with an aim toward packaging them in a collateralized loan obligation (CLO) transaction. The agreement was signed in late February 2020...

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