These parties are sophisticated, well-advised entities engaged in complicated financial transactions. The parties' motions to exclude evidence are denied. Upon the facts and conclusions set forth below, the Defendants' motion for summary judgment dismissing the complaint is granted in part and denied in part, and Plaintiff's motion partial summary judgment to dismiss the Defendants' affirmative defenses of unclean hands and equitable estoppel is granted. rmative defenses of unclean hands In addition, both parties have moved in limine to exclude certain testimony and exhibits submitted by the opposing party. 56 for partial summary judgment dismissing the Defendants' af and equitable estoppel. 56 for summary judgment dismissing the complaint of MBIA Insurance Corporation (lIMBIA" or the "Plaintiff"). The defendants Patriarch Partners VIII, LLC (IIPatriarch ll ) and LD Investments, LLC ("LDI") (collectively, the "Defendants ll ) have moved pursuant to Fed. At for Defendants BRUNE & RICHARD LLP One Battery Park Plaza New York, NY 10004 By: Charles A. x A P PEA RAN C E S: Attorneys for Plaintiff BINGHAM MCCUTCHEN LLP 399 Park Avenue New York, NY 10022 4689 By: Jef Q. 3255 -against- OPINION PATRIARCH PARTNERS VIII, LLC, a Delaware limited liability company, and LD INVESTMENTS, LLC, a Delaware limited liability company, Defendants. UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK - - -x MBIA INSURANCE CORPORATION, aintiff, 09 Civ.
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