Springwell Nav. Corp. v Sanluis Corporacion, S.A.

Springwell Nav. Corp. v Sanluis Corporacion, S.A. 2012 NY Slip Op 06745 Decided on October 9, 2012 Appellate Division, First Department Published by New York State Law Reporting Bureau pursuant to Judiciary Law § 431. This opinion is uncorrected and subject to revision before publication in the Official Reports.

Decided on October 9, 2012
Tom, J.P., Mazzarelli, Catterson, Renwick, DeGrasse, JJ.
600600/09 8230A

[*1]8230-Springwell Navigation Corp., Plaintiff-Respondent,

v

Sanluis Corporacion, S.A., Defendant-Appellant.




Wilk Auslander LLP, New York (Julie A. Cilia of counsel), for
appellant.
Kasowitz Benson Torres & Friedman, LLP, New York
(Thomas B. Kelly of counsel), for respondent.

Judgment, Supreme Court, New York County (Barbara Kapnick, J.), entered June 10, 2011, in plaintiff's favor, unanimously affirmed, with costs. Appeal from order, same court and Justice, entered June 7, 2011, unanimously dismissed, with costs, as subsumed in the appeal from the aforesaid judgment.

In this breach of contract action, defendant does not deny that it issued the subject unrestricted global note (UGN), that it was obligated to make certain interest and principal payments thereunder, and that it failed to make the required payments. Its sole argument is that plaintiff failed to demonstrate that it was the holder of a beneficial interest in the UGN. We have already held that plaintiff had standing to bring this suit in the registered holder's stead (81 AD3d 557 [1st Dept 2011]). Thus, plaintiff was not required to establish that it was the
holder.

We have considered defendant's remaining contentions and find them unavailing.

THIS CONSTITUTES THE DECISION AND ORDER
OF THE SUPREME COURT, APPELLATE DIVISION, FIRST DEPARTMENT.

ENTERED: OCTOBER 9, 2012

CLERK