Firm Had Sufficient Notice Of Lawsuit, Binding It To Settlement, Triggering Indemnification Liability

Supreme Court had dismissed plaintiff’s complaint seeking recovery of $6.35 million expended in defending and settling a lawsuit brought by Western Mining & Investments LLC (WMI). Tri-Links Investment Trust, which acquired a majority interest in a debtor-in-possession group, had opposed the WMI deal. Reversing Supreme Court’s dismissal, the First Department granted plaintiff summary judgment as to liability on its...

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