The case of the day is Boeing Co. v. KB Yuzhnoye (C.D. Cal. 2013). Boeing Co. and the Boeing Commercial Space Co. claimed that BCSC was part of a joint venture called Sea Launch. Yuzhnoye, an instrumentality of Ukraine, was one of the other joint venturers. The joint venture agreement provided that if any party provided a guaranty to a third party, then each of the joint venturers would be liable to reimburse the guarantor its proportionate share of the guaranty. Boeing, at Sea Launch’s request, guaranteed nearly $450 in third-party loans. Later, BCSC agreed to loan $183 million to Sea Launch on the condition that Yuzhnoye guarantee repayment in proportion to its ownership interest in Sea Launch. This second guaranty provided: “The Guarantor…

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