A New York state judge on Friday rejected an attempt by Bombardier Inc to dismiss a lawsuit by a group of hedge funds that accused the business jet maker of short-changing them by selling new debt after divesting major businesses in 2020 and 2021.
NEW YORK, March 17 - A New York state judge on Friday rejected an attempt by Bombardier Inc
Justice Andrew Borrok of the Manhattan Supreme Court said the hedge funds did not waive their right to declare Bombardier in default on their bonds, part of a $250 million issuance maturing in 2034, when it sold the businesses, including its commercial aircraft program. That sale gave the investor a majority of the now $510 million issuance, and it voted to waive the default.
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