In MBIA Insurance Corp. v. Patriarch Ptrs. VIII, LLC, 2012 WL 1129914 (S.D.N.Y. April 4, 2012), Download MBIA Insurance Corp. v. Patriarch Ptrs. VIII, LLC (SDNY No. 09.Civ.3255, Opinion Filed April 4, 2012) PUBLIC ACCESS, a Federal Court denied a motion for reconsideration. In doing so, the Court highlighted the importance of Expert Testimony in that case.
MBIA sued for alleged Breach of the Implied Covenant of Good Faith and Fair Dealing, among other things, in that case. The Defendants, Patriarch Partners VIII and LD Investments, raised Affirmative Defenses of unclean hands and equitable estoppel. The Good Faith and Fair Dealing claim survived the Defendants' Motion for Summary Judgment. The Affirmative Defenses in question did not survive MBIA's Motion for Partial Summary Judgment. In addition, all parties apparently filed motions to preclude certain evidence from being introduced at Trial.
The Federal Court adhered to its previous ruling in this case, that the testimony of Experts presented factual issues which were not appropriately resolved by motions to preclude the introduction of evidence:
The parties' motions to preclude evidence were both denied, with the Court holding that “[f]actual issues are presented by the experts' testimony, and their resolution is not appropriate in the context of the present motions.”
Id., 2012 WL 1129914 at *2.
Parenthetically, the online docket available for this case on PACER shows the filing of many "sealed" documents which someone apparently placed in a "vault". It is a wonder that this is a public proceeding.
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