Borden LP v Sixth St. Partners, LLC

Holding The court awarded judgment to defendants for breach of contract, finding that the plaintiff breached the credit agreement by selling collateral to an insider at a price lower than the highest valid offer and failing to pay the Switch Sharing Percentage. The court held that the fraudulent conveyance claim was duplicative of the breach of contract damages and dismissed the tortious interference claim because the alleged tortfeasor was not a stranger to the contract.

The court’s words

Borden LP breached the credit agreement by selling the Switch Units to PRS1000 at a lower price

2026 NY Slip Op 51639[U], at the official text

the obligation to pay the percentage became immediately due and owing at the time of default

2026 NY Slip Op 51639[U], at the official text

PBB may not recover separate relief on its fraudulent conveyance claim for the value of the Switch Sharing Percentage

2026 NY Slip Op 51639[U], at the official text

Michael Borden was not a stranger to either contract, this claim must be dismissed as legally insufficient

2026 NY Slip Op 51639[U], at the official text