![]() ![]() The parties' dispute turns on the interpretation of the complicated agreements reached between them. MBIA had issued financial guaranty insurance on collateralized debt obligations ("CDOs") and had turned to Patriarch and its Chief Executive Officer Lynn Tilton ("Tilton") for assistance in remediating seven CDOs where losses estimated to be between $91 and $287 million were anticipated. These parties are sophisticated, well-advised entities engaged in complicated financial transactions. The parties' motions to exclude evidence are denied. Upon the facts and conclusions set forth below, the Defendants' motion for summary judgment dismissing the complaint is granted in part and denied in part, and Plaintiff's motion for partial summary judgment to dismiss the Defendants' affirmative defenses of unclean hands and equitable estoppel is granted. In addition, both parties have moved in limine to exclude certain testimony and exhibits submitted by the opposing party. 56 for partial summary judgment dismissing the Defendants' affirmative defenses of unclean hands and equitable estoppel. 56 for summary judgment dismissing the complaint of MBIA Insurance Corporation ("MBIA" or the "Plaintiff"). ![]() The defendants Patriarch Partners VIII, LLC ("Patriarch") and LD Investments, LLC ("LDI") (collectively, the "Defendants") have moved pursuant to Fed. ![]()
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