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Fratelli Invs. Ltd. v. Cimento Tupi S.A.

Summary Judgment in Lieu of Complaint Denied Plaintiffs; Suit Converted to Plenary Action

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The following e-filed documents, listed by NYSCEF document number (Motion 002) 50, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 86 were read on this motion to/for JUDGMENT – SUMMARY IN LIEU OF COMPLAINT. DECISION ORDER ON MOTION Upon the foregoing documents, it is ORDERED that the motion for summary judgment is denied; and it is further ORDERED that this action is converted to a plenary action; and it is further ORDERED that the papers submitted in this action will be deemed the complaint in said plenary action; and it is further ORDERED that defendant shall serve its answer within 20 days of service upon it of a copy of this order with notice of entry; and it is further ORDERED that the Clerk of the Court shall enter judgment accordingly; and it is further ORDERED that counsel for Plaintiffs shall serve a copy of this Order along with Notice of Entry on all parties within twenty (20) days of entry. MEMORADNUM DECISION Plaintiffs Fratelli Investments Ltd., ICE EM Credit Absolute Return Master Fund Designated Activity Co., ICE ORYX Alpha Master Fund Designated Activity Co., JPMorgan Chase Retirement Plan, ICE Global Credit Funds-ICE EM Credit Total Return Fund, and VR Global Partners, L.P. (collectively, Plaintiffs) move, pursuant to CPLR 3213, for summary judgment in lieu of a complaint. BACKGROUND FACTS Plaintiffs seek to recover an aggregate principal sum of $113,067,000 due on certain “Senior Unsecured Notes” (the Notes) issued by defendant Cimento Tupi, S.A. (Defendant). Defendant issued a total of $185 million stated principal amount of Notes, pursuant to an “Indenture” dated May 26, 2011, as amended and supplemented by an “Indenture Supplement” dated April 26, 2012 (together, the Indenture). See NYSCEF Doc No. 29,

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