ALBANY — An indenture trustee for a Hellas Telecommunication noteholders seeking roughly $565 million over defaulted bonds can bring lawsuits against two private equity firms accused of fraudulently transferring the proceeds from the indenture, New York’s highest court ruled Tuesday, in the long-running saga.

In a 5-0 decision, in which Associate Judge Michael Garcia took no part, the court affirmed a 2016 Appellate Division ruling that trustee Wilmington Trust Co. and assignee Cortlandt Street Recovery Corp. can seek recovery claims on behalf of noteholders. The Court of Appeals upheld the Appellate Division’s ruling, which overturned a state Supreme Court decision that the plaintiff had no legal standing to bring the claim.