Court of Appeals of New York

One lender in a syndicated loan arrangement does not have standing to sue for breach of contract, contrary to the will of the other 36 lenders to forbear from taking action when the specific, unambiguous language of several provisions, read in the context of the agreements as a whole, show that the lenders intended to act collectively in the event of the borrower's default and to preclude an individual lender from disrupting the scheme of the agreements at issue.

Appellate Information

• Decided 03/22/2007
• Published 03/22/2007

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• Court of Appeals of New York

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