Avenue CLO Fund, Ltd. et al v. Bank of America, N.A., et al
Filing
79
CERTIFIED REMAND ORDER. MDL No. 2106. Signed by MDL (FLSD) on 1/14/14. (Attachments: # 1 Transmittal from FLSD, # 2 1 09-md-02106 Designation of Record, # 3 1 09-md-02106 Dkt. Sheet - flsd, # 4 09-MD-2106 DE 1, 2, 4-30, # 5 0 9-MD-2106 DE 32-36, # 6 09-MD-2106 DE 37 part 1 of 3, # 7 09-MD-2106 DE 37 part 2 of 3, # 8 09-MD-2106 DE 37 part 3 of 3, # 9 09-MD-2106 DE 38, 39, 41-47, 49, 50, # 10 09-MD-2106 DE 51, # 11 09-MD-2106 DE 52-59, 61-65, 68, 70, 72-76, # (1 2) 09-MD-2106 DE 78-84, 86-91, # 13 09-MD-2106 DE 93, 95-103, 106-108, # 14 09-MD-2106 DE 110-115, # 15 09-MD-2106 DE 116-125, 127-129, 132-134, # 16 09-MD-2106 DE 136-140, 142-158, # 17 09-MD-2106 DE 160-162, 164-167, 170-175, 177-190, # ( 18) 09-MD-2106 DE 191-199, 201-215, # 19 09-MD-2106 DE 217-229, 232-247, # 20 09-MD-2106 DE 248, # 21 09-MD-2106 DE 249 part 1 of 2, # 22 09-MD-2106 DE 249 part 2 of 2, # 23 09-MD-2106 DE 251-253, 262-266, 284-287, 300, 301, 310, 319, 326-3 31, # 24 09-MD-2106 DE 335, 336, 338-344, 346-349, # 25 09-MD-2106 DE 350, # 26 09-MD-2106 DE 351-358, # 27 09-MD-2106 DE 360-366, 368-374, # 28 09-MD-2106 DE 375 part 1 of 3, # 29 09-MD-2106 DE 375 part 2 of 3, # 30 09-MD-2106 DE 375 p art 3 of 3, # 31 09-MD-2106 DE 376 part 1, # 32 09-MD-2106 DE 376 part 2, # 33 09-MD-2106 DE 376 part 3, # 34 09-MD-2106 DE 376 part 4, # 35 09-MD-2106 DE 376 part 5, # 36 09-MD-2106 DE 376 part 6, # 37 09-MD-2106 DE 376 part 7, # 38 09-MD-2106 DE 376 part 8, # 39 09-MD-2106 DE 376 part 9, # 40 09-MD-2106 DE 377 part 1, # 41 09-MD-2106 DE 377 part 2, # 42 09-MD-2106 DE 378, # 43 09-MD-2106 DE 379, # 44 09-MD-2106 DE 380, # 45 09-MD-2106 DE 381 part 1, # 46 09-MD-2 106 DE 381 part 2, # 47 09-MD-2106 DE 382 part 1, # 48 09-MD-2106 DE 382 part 2, # 49 09-MD-2106 DE 382 part 3, # 50 09-MD-2106 DE 382 part 4, # 51 09-MD-2106 DE 383 part 1, # 52 09-MD-2106 DE 383 part 2, # 53 09-MD-2106 DE 383 part 3, # 54 09-MD-2106 DE 383 part 4, # 55 09-MD-2106 DE 383 part 5, # 56 09-MD-2106 DE 383 part 6, # 57 09-MD-2106 DE 383 part 7, # 58 09-MD-2106 DE 383 part 8, # 59 09-MD-2106 DE 383 part 9, # 60 09-MD-2106 DE 383 part 10, # 61 09-MD-2106 DE 383 part 11, # 62 09-MD-2106 DE 384 part 1, # 63 09-MD-2106 DE 384 part 2, # 64 09-MD-2106 DE 384 part 3, # 65 09-MD-2106 DE 384 part 4, # 66 09-MD-2106 DE 384 part 5, # 67 09-MD-2106 DE 384 part 6, # 68 09-MD-2106 DE 384 part 7, # ( 69) 09-MD-2106 DE 384 part 8, # 70 09-MD-2106 DE 384 part 9, # 71 09-MD-2106 DE 384 part 10, # 72 09-MD-2106 DE 384 part 11, # 73 09-MD-2106 DE 385 part 1, # 74 09-MD-2106 DE 385 part 2, # 75 09-MD-2106 DE 386 part 1, # 76 09-MD-2106 DE 386 part 2, # 77 09-MD-2106 DE 386 part 3, # 78 09-MD-2106 DE 386 part 4, # 79 09-MD-2106 DE 386 part 5, # 80 09-MD-2106 DE 386 part 6, # 81 09-MD-2106 DE 386 part 7, # 82 09-MD-2106 DE 387 part 1, # 83 09-MD-2106 DE 387 part 2, # 84 09-MD-2106 DE 388, # 85 09-MD-2106 DE 389 part 1, # 86 09-MD-2106 DE 389 part 2, # 87 09-MD-2106 DE 389 part 3, # 88 09-MD-2106 DE 389 part 4, # 89 09-MD-2106 DE 390, 392-394, # 90 1 10-cv-20236 Dkt. Sheet - flsd, # 91 10cv20236 DE #1-27, 29-31, 45, 53, 60-65, 67-70, 73, # 92 1 09-cv-23835 Dkt. Sheet - flsd, # 93 09cv23835 DE 112, 115-126, # 94 09cv23835 DE 130, 134, 135 and 145)(Copies have been distributed pursuant to the NEF - MMM)
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 1 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 2 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 3 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 4 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 5 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 6 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 7 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 8 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 9 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 10 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 11 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 12 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 13 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 14 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 15 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 16 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 17 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 18 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 19 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 20 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 21 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 22 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 23 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 24 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 25 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 26 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 27 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 28 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 29 of 30
Case 1:10-cv-20236-ASG Document 1 Entered on FLSD Docket 09/22/2009 Page 30 of 30
Case 1:10-cv-20236-ASG Document 2 Entered on FLSD Docket 09/22/2009 Page 1 of 2
Case 1:10-cv-20236-ASG Document 2 Entered on FLSD Docket 09/22/2009 Page 2 of 2
Case 1:10-cv-20236-ASG Document 3 Entered on FLSD Docket 09/28/2009 Page 1 of 3
Case 1:10-cv-20236-ASG Document 3 Entered on FLSD Docket 09/28/2009 Page 2 of 3
Case 1:10-cv-20236-ASG Document 3 Entered on FLSD Docket 09/28/2009 Page 3 of 3
Case 1:10-cv-20236-ASG Document 4 Entered on FLSD Docket 10/02/2009 Page 1 of 2
Case 1:10-cv-20236-ASG Document 4 Entered on FLSD Docket 10/02/2009 Page 2 of 2
Case 1:10-cv-20236-ASG Document 5 Entered on FLSD Docket 10/05/2009 Page 1 of 3
Case 1:10-cv-20236-ASG Document 5 Entered on FLSD Docket 10/05/2009 Page 2 of 3
Case 1:10-cv-20236-ASG Document 5 Entered on FLSD Docket 10/05/2009 Page 3 of 3
Case 1:10-cv-20236-ASG Document 6 Entered on FLSD Docket 10/06/2009 Page 1 of 2
Case 1:10-cv-20236-ASG Document 6 Entered on FLSD Docket 10/06/2009 Page 2 of 2
Case 1:10-cv-20236-ASG Document 7 Entered on FLSD Docket 10/06/2009 Page 1 of 2
Case 1:10-cv-20236-ASG Document 7 Entered on FLSD Docket 10/06/2009 Page 2 of 2
Case 1:10-cv-20236-ASG Document 8 Entered on FLSD Docket 10/06/2009 Page 1 of 1
Case 1:10-cv-20236-ASG Document 9 Entered on FLSD Docket 10/06/2009 Page 1 of 2
Case 1:10-cv-20236-ASG Document 9 Entered on FLSD Docket 10/06/2009 Page 2 of 2
Case 1:10-cv-20236-ASG Document 10 Entered on FLSD Docket 10/06/2009 Page 1 of 1
Case 1:10-cv-20236-ASG Document 11 Entered on FLSD Docket 10/06/2009 Page 1 of 2
Case 1:10-cv-20236-ASG Document 11 Entered on FLSD Docket 10/06/2009 Page 2 of 2
Case 1:10-cv-20236-ASG Document 12 Entered on FLSD Docket 10/06/2009 Page 1 of 1
Case 1:10-cv-20236-ASG Document 13 Entered on FLSD Docket 10/06/2009 Page 1 of 2
Case 1:10-cv-20236-ASG Document 13 Entered on FLSD Docket 10/06/2009 Page 2 of 2
Case 1:10-cv-20236-ASG Document 14 Entered on FLSD Docket 10/06/2009 Page 1 of 2
Case 1:10-cv-20236-ASG Document 14 Entered on FLSD Docket 10/06/2009 Page 2 of 2
Case 1:10-cv-20236-ASG Document 15 Entered on FLSD Docket 10/06/2009 Page 1 of 1
Case 1:10-cv-20236-ASG Document 16 Entered on FLSD Docket 10/07/2009 Page 1 of 2
Case 1:10-cv-20236-ASG Document 16 Entered on FLSD Docket 10/07/2009 Page 2 of 2
Case 1:10-cv-20236-ASG Document 17 Entered on FLSD Docket 10/14/2009 Page 1 of 1
Case 1:10-cv-20236-ASG Document 18 Entered on FLSD Docket 10/16/2009 Page 1 of 10
Case 1:10-cv-20236-ASG Document 18 Entered on FLSD Docket 10/16/2009 Page 2 of 10
Case 1:10-cv-20236-ASG Document 18 Entered on FLSD Docket 10/16/2009 Page 3 of 10
Case 1:10-cv-20236-ASG Document 18 Entered on FLSD Docket 10/16/2009 Page 4 of 10
Case 1:10-cv-20236-ASG Document 18 Entered on FLSD Docket 10/16/2009 Page 5 of 10
Case 1:10-cv-20236-ASG Document 18 Entered on FLSD Docket 10/16/2009 Page 6 of 10
Case 1:10-cv-20236-ASG Document 18 Entered on FLSD Docket 10/16/2009 Page 7 of 10
Case 1:10-cv-20236-ASG Document 18 Entered on FLSD Docket 10/16/2009 Page 8 of 10
Case 1:10-cv-20236-ASG Document 18 Entered on FLSD Docket 10/16/2009 Page 9 of 10
Case 1:10-cv-20236-ASG Document 18 Entered on FLSD Docket 10/16/2009 Page 10 of 10
Case 1:10-cv-20236-ASG Document 19 Entered on FLSD Docket 10/21/2009 Page 1 of 9
Case 1:10-cv-20236-ASG Document 19 Entered on FLSD Docket 10/21/2009 Page 2 of 9
Case 1:10-cv-20236-ASG Document 19 Entered on FLSD Docket 10/21/2009 Page 3 of 9
Case 1:10-cv-20236-ASG Document 19 Entered on FLSD Docket 10/21/2009 Page 4 of 9
Case 1:10-cv-20236-ASG Document 19 Entered on FLSD Docket 10/21/2009 Page 5 of 9
Case 1:10-cv-20236-ASG Document 19 Entered on FLSD Docket 10/21/2009 Page 6 of 9
Case 1:10-cv-20236-ASG Document 19 Entered on FLSD Docket 10/21/2009 Page 7 of 9
Case 1:10-cv-20236-ASG Document 19 Entered on FLSD Docket 10/21/2009 Page 8 of 9
Case 1:10-cv-20236-ASG Document 19 Entered on FLSD Docket 10/21/2009 Page 9 of 9
Case 1:10-cv-20236-ASG Document 20 Entered on FLSD Docket 10/22/2009 Page 1 of 2
Case 1:10-cv-20236-ASG Document 20 Entered on FLSD Docket 10/22/2009 Page 2 of 2
Case 1:10-cv-20236-ASG Document 21 Entered on FLSD Docket 11/17/2009 Page 1 of 7
Case 1:10-cv-20236-ASG Document 21 Entered on FLSD Docket 11/17/2009 Page 2 of 7
Case 1:10-cv-20236-ASG Document 21 Entered on FLSD Docket 11/17/2009 Page 3 of 7
Case 1:10-cv-20236-ASG Document 21 Entered on FLSD Docket 11/17/2009 Page 4 of 7
Case 1:10-cv-20236-ASG Document 21 Entered on FLSD Docket 11/17/2009 Page 5 of 7
Case 1:10-cv-20236-ASG Document 21 Entered on FLSD Docket 11/17/2009 Page 6 of 7
Case 1:10-cv-20236-ASG Document 21 Entered on FLSD Docket 11/17/2009 Page 7 of 7
Case 1:10-cv-20236-ASG Document 22 Entered on FLSD Docket 11/20/2009 Page 1 of 1
Case 1:10-cv-20236-ASG Document 23 Entered on FLSD Docket 11/24/2009 Page 1 of 2
Case 1:10-cv-20236-ASG Document 23 Entered on FLSD Docket 11/24/2009 Page 2 of 2
Case 1:10-cv-20236-ASG Document 24 Entered on FLSD Docket 11/24/2009 Page 1 of 1
Case 1:10-cv-20236-ASG Document 25 Entered on FLSD Docket 01/08/2010 Page 1 of 9
Case 1:10-cv-20236-ASG Document 25 Entered on FLSD Docket 01/08/2010 Page 2 of 9
Case 1:10-cv-20236-ASG Document 25 Entered on FLSD Docket 01/08/2010 Page 3 of 9
Case 1:10-cv-20236-ASG Document 25 Entered on FLSD Docket 01/08/2010 Page 4 of 9
Case 1:10-cv-20236-ASG Document 25 Entered on FLSD Docket 01/08/2010 Page 5 of 9
Case 1:10-cv-20236-ASG Document 25 Entered on FLSD Docket 01/08/2010 Page 6 of 9
Case 1:10-cv-20236-ASG Document 25 Entered on FLSD Docket 01/08/2010 Page 7 of 9
Case 1:10-cv-20236-ASG Document 25 Entered on FLSD Docket 01/08/2010 Page 8 of 9
Case 1:10-cv-20236-ASG Document 25 Entered on FLSD Docket 01/08/2010 Page 9 of 9
Case 1:10-cv-20236-ASG Document 25-1 Entered on FLSD Docket 01/08/2010 Page 1 of 10
Case 1:10-cv-20236-ASG Document 25-1 Entered on FLSD Docket 01/08/2010 Page 2 of 10
Case 1:10-cv-20236-ASG Document 25-1 Entered on FLSD Docket 01/08/2010 Page 3 of 10
Case 1:10-cv-20236-ASG Document 25-1 Entered on FLSD Docket 01/08/2010 Page 4 of 10
Case 1:10-cv-20236-ASG Document 25-1 Entered on FLSD Docket 01/08/2010 Page 5 of 10
Case 1:10-cv-20236-ASG Document 25-1 Entered on FLSD Docket 01/08/2010 Page 6 of 10
Case 1:10-cv-20236-ASG Document 25-1 Entered on FLSD Docket 01/08/2010 Page 7 of 10
Case 1:10-cv-20236-ASG Document 25-1 Entered on FLSD Docket 01/08/2010 Page 8 of 10
Case 1:10-cv-20236-ASG Document 25-1 Entered on FLSD Docket 01/08/2010 Page 9 of 10
Case 1:10-cv-20236-ASG Document 25-1 Entered on FLSD Docket 01/08/2010 Page 10 of 10
Case 1:10-cv-20236-ASG Document 26 Entered on FLSD Docket 01/13/2010 Page 1 of 2
Case 1:10-cv-20236-ASG Document 26 Entered on FLSD Docket 01/13/2010 Page 2 of 2
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 1 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 2 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 3 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 4 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 5 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 6 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 7 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 8 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 9 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 10 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 11 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 12 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 13 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 14 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 15 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 16 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 17 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 18 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 19 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 20 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 21 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 22 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 23 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 24 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 25 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 26 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 27 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 28 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 29 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 30 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 31 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 32 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 33 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 34 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 35 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 36 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 37 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 38 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 39 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 40 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 41 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 42 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 43 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 44 of 45
Case 1:10-cv-20236-ASG Document 27 Entered on FLSD Docket 01/19/2010 Page 45 of 45
Case 1:10-cv-20236-ASG Document 29 Entered on FLSD Docket 01/26/2010 Page 1 of 7
CLOSED, ECF
U.S. District Court
United States District Court for the Southern District of New York (Foley Square)
CIVIL DOCKET FOR CASE #: 1:09−cv−08064−LTS
ACP Master, Ltd. et al v. Bank of America, N.A. et al
Assigned to: Judge Laura Taylor Swain
Cause: 12:632 International Banking
Date Filed: 09/21/2009
Date Terminated: 01/25/2010
Jury Demand: None
Nature of Suit: 430 Banks and Banking
Jurisdiction: Federal Question
Plaintiff
ACP Master, Ltd.
represented by David Parker
Kleinberg,Kaplan,Wolff &Cohen,P.C.
551 Fifth Avenue
18th floor
New York , NY 10176
(212) 986−6000
Fax: (212) 986−8866
Email: dparker@kkwc.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
John D. Byars
Bartlit Beck Herman Palenchar &Scott LLP
54 West Hubbard
Suite 300
Chicago , IL 60610
(312) 494−4400
Fax: (312) 494−4440
Email: john.byars@bartlit−beck.com
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED
Vincent S.J Buccola
Bartlit Beck Herman Palenchar &Scott LLP
54 West Hubbard
Suite 300
Chicago , IL 60654
(312) 494−4400
Fax: (312) 494−4400
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED
James B. Heaton , III
Bartlit Beck Herman Palenchar &Scott LLP (IL)
54 West Hubbard Street
Suite 300
Chicago , IL 60610−4697
(312) 494−4400
Fax: (312) 494−4440
Case 1:10-cv-20236-ASG Document 29 Entered on FLSD Docket 01/26/2010 Page 2 of 7
Email: jb.heaton@bartlit−beck.com
ATTORNEY TO BE NOTICED
Marc R. Rosen
Kleinberg,Kaplan,Wolff &Cohen,P.C.
551 Fifth Avenue
New York , NY 10176
(212) 880−9897
Fax: (212) 986−8866
Email: mrosen@kkwc.com
ATTORNEY TO BE NOTICED
Steven James Nachtwey
Bartlit Beck Herman Palenchar &Scott LLP (IL)
54 West Hubbard Street
Suite 300
Chicago , IL 60610−4697
(312) 494−4400
Fax: (312) 494−4440
Email: steven.nachtwey@bartlit−beck.com
ATTORNEY TO BE NOTICED
Plaintiff
Aurelius Capital Master, Ltd.
represented by David Parker
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
John D. Byars
(See above for address)
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED
Vincent S.J Buccola
(See above for address)
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED
James B. Heaton , III
(See above for address)
ATTORNEY TO BE NOTICED
Marc R. Rosen
(See above for address)
ATTORNEY TO BE NOTICED
Steven James Nachtwey
(See above for address)
ATTORNEY TO BE NOTICED
V.
Case 1:10-cv-20236-ASG Document 29 Entered on FLSD Docket 01/26/2010 Page 3 of 7
Defendant
Bank of America, N.A.
Defendant
Merrill Lynch Capital Corporation
Defendant
JP Morgan Chase Bank, N.A.
Defendant
Barclays Bank PLC
Defendant
Deutsche Bank Trust Company Americas
Defendant
The Royal Bank of Scotland PLC
Defendant
Sumitomo Mitsui Banking Corporation
Defendant
Bank of Scotland
Defendant
HSH Nordbank AG
Defendant
MB Financial Bank, N.A.
represented by Peter J Roberts
Shaw Gussis Fishman Glant Wolfson &Towbin,
L.L.C.
321 North Clark Street
Suite 800
Chicago , IL 60654
(312) 276−1322
Fax: (312) 275−0568
PRO HAC VICE
ATTORNEY TO BE NOTICED
Defendant
Camulos Master Fund, L.P.
represented by Andrew Bennett Kratenstein
McDermott, Will &Emery, LLP (NY)
340 Madison Avenue
New York , NY 10017
(212) 547−5695
Fax: (212) 547−5444
Email: akratenstein@mwe.com
Case 1:10-cv-20236-ASG Document 29 Entered on FLSD Docket 01/26/2010 Page 4 of 7
ATTORNEY TO BE NOTICED
Date Filed
#
Docket Text
09/21/2009
Ï1
09/21/2009
Ï
SUMMONS ISSUED as to Merrill Lynch Capital Corporation, JP Morgan Chase Bank, N.A.,
Barclays Bank PLC, Deutsche Bank Trust Company Americas, The Royal Bank of Scotland
PLC, Sumitomo Mitsui Banking Corporation, Bank of Scotland, HSH Nordbank AG, MB
Financial Bank, N.A., Camulos Master Fund, L.P., Bank of America, N.A. (ama) (Entered:
09/22/2009)
09/21/2009
Ï
Magistrate Judge Theodore H. Katz is so designated. (ama) (Entered: 09/22/2009)
09/21/2009
Ï
Case Designated ECF. (ama) (Entered: 09/22/2009)
09/21/2009
Ï2
RULE 7.1 CORPORATE DISCLOSURE STATEMENT. Identifying Aurelius Capital Partners,
LP, Aurelius Capital GP,LLC as Corporate Parent. Document filed by ACP Master, Ltd.,
Aurelius Capital Master, Ltd.(ama) (Entered: 09/22/2009)
09/28/2009
Ï3
INITIAL CONFERENCE ORDER:... Initial Conference set for 12/17/2009 at 11:00 AM in
Courtroom 11C, 500 Pearl Street, New York, NY 10007 before Judge Laura Taylor Swain.
(Signed by Judge Laura Taylor Swain on 9/28/09) (cd) (Entered: 09/28/2009)
10/02/2009
Ï4
CERTIFICATE OF SERVICE of Initial Conference Order dated September 28, 2009 served on
Bank of America, N.A.; Bank of Scotland; Barclays Bank PLC; Camulos Master Fund, L.P.;
Deutsche Bank Trust; HSH Nordbank AG; JPMorgan Chase Bank, N.A.; MB Financial Bank,
N.A.; Merrill Lynch Capital Corporation; Sumitomo Mitsui Banking Corporation; and The Royal
Bank of Scotland PLC on October 2, 2009. Service was made by Federal Express. Document
filed by ACP Master, Ltd., Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/02/2009)
10/05/2009
Ï5
NOTICE OF APPEARANCE by Marc R. Rosen on behalf of ACP Master, Ltd., Aurelius Capital
Master, Ltd. (Rosen, Marc) (Entered: 10/05/2009)
10/06/2009
Ï6
AFFIDAVIT OF SERVICE. Bank of America, N.A. served on 9/23/2009, answer due
10/13/2009. Service was accepted by Alejandro Cordero. Document filed by ACP Master, Ltd.;
Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï7
AFFIDAVIT OF SERVICE. Barclays Bank PLC served on 9/23/2009, answer due 10/13/2009.
Service was accepted by Sandy Galicia. Document filed by ACP Master, Ltd.; Aurelius Capital
Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï8
AFFIDAVIT OF SERVICE. Camulos Master Fund, L.P. served on 9/24/2009, answer due
10/14/2009. Service was accepted by Carmel MacNulty. Document filed by ACP Master, Ltd.;
Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï9
AFFIDAVIT OF SERVICE. Deutsche Bank Trust Company Americas served on 9/23/2009,
answer due 10/13/2009. Service was accepted by Sandy Galicia. Document filed by ACP Master,
Ltd.; Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï 10
COMPLAINT against Merrill Lynch Capital Corporation, JP Morgan Chase Bank, N.A.,
Barclays Bank PLC, Deutsche Bank Trust Company Americas, The Royal Bank of Scotland
PLC, Sumitomo Mitsui Banking Corporation, Bank of Scotland, HSH Nordbank AG, MB
Financial Bank, N.A., Camulos Master Fund, L.P., Bank of America, N.A. (Filing Fee $ 350.00,
Receipt Number 700407)Document filed by ACP Master, Ltd., Aurelius Capital Master,
Ltd.(ama) (Entered: 09/22/2009)
AFFIDAVIT OF SERVICE. HSH Nordbank AG served on 9/23/2009, answer due 10/13/2009.
Service was accepted by David C. Wolinsky. Document filed by ACP Master, Ltd.; Aurelius
Case 1:10-cv-20236-ASG Document 29 Entered on FLSD Docket 01/26/2010 Page 5 of 7
Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï 11
AFFIDAVIT OF SERVICE. MB Financial Bank, N.A. served on 9/28/2009, answer due
10/19/2009. Service was accepted by Tricia Cherry. Document filed by ACP Master, Ltd.;
Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï 12
AFFIDAVIT OF SERVICE. Merrill Lynch Capital Corporation served on 9/23/2009, answer due
10/13/2009. Service was accepted by Aixa Flores. Document filed by ACP Master, Ltd.; Aurelius
Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï 13
AFFIDAVIT OF SERVICE. The Royal Bank of Scotland PLC served on 9/23/2009, answer due
10/13/2009. Service was accepted by Lucy Wnuk. Document filed by ACP Master, Ltd.;
Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï 14
AFFIDAVIT OF SERVICE. Sumitomo Mitsui Banking Corporation served on 9/23/2009,
answer due 10/13/2009. Service was accepted by Sandy Galicia. Document filed by ACP Master,
Ltd.; Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï 15
AFFIDAVIT OF SERVICE. Bank of Scotland served on 10/2/2009, answer due 10/22/2009.
Service was accepted by Aixa Flores. Document filed by ACP Master, Ltd.; Aurelius Capital
Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/07/2009
Ï 16
AFFIDAVIT OF SERVICE. JP Morgan Chase Bank, N.A. served on 10/1/2009, answer due
10/21/2009. Service was accepted by Jody Peck. Document filed by ACP Master, Ltd.; Aurelius
Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/07/2009)
10/14/2009
Ï 17
NOTICE OF APPEARANCE by Andrew Bennett Kratenstein on behalf of Camulos Master
Fund, L.P. (Kratenstein, Andrew) (Entered: 10/14/2009)
10/15/2009
Ï 18
MOTION for James B. Heaton, III and Steven J. Nachtwey to Appear Pro Hac Vice. Document
filed by ACP Master, Ltd., Aurelius Capital Master, Ltd.(dle) (Entered: 10/16/2009)
10/20/2009
Ï
10/20/2009
Ï 19
STIPULATION AND ORDER: It is hereby stipulated and agreed by and between the parties that
Defendants shall have up to and including forty−five (45) days from the notice ofentry of the
order of the Judicial Panel on Multi−District Litigation (the "MDL Panel") on the pending
Motion for Transfer to the Southern District of Florida and Consolidation of Related Actions
Pursuant to 28 U.S.c. § 1407 (In re Fontainebleau Las Vegas Contract Litigation, MDL No.
2106) to serve and file their responses to the Complaint, unless the Plaintiffs herein seek to
amend their Complaint. Plaintiffs herein shall have thirty (30) days from the notice of entry of the
MDL Panel's order to serve and tile an Amended Complaint upon the consent of the Defendants.
Defendants shall have thirty (30) days from the service of an Amended Complaint by Plaintiffs
herein to serve and tile their responses to the Amended Complaint; provided, however, that in the
event Plaintiffs herein move the Court for leave to tile the proposed Amended Complaint, then
the Defendants shall have thirty (30) days from the no tice of entry of order on such motion to
serve and file their responses to the operative complaint herein. (Signed by Judge Laura Taylor
Swain on 10/19/2009) (jpo) (Entered: 10/21/2009)
10/22/2009
Ï 20
ORDER granting 18 Motion for James B. Heaton, III and Steven J. Nachtwey to Appear Pro Hac
Vice for ACP Master, Ltd., Aurelius Capital Master, Ltd. (Signed by Judge Laura Taylor Swain
on 10/21/2009) (jmi) (Entered: 10/22/2009)
10/22/2009
Ï
CASHIERS OFFICE REMARK on 18 Motion to Appear Pro Hac Vice in the amount of $50.00,
paid on 10/15/2009, Receipt Number 702853. (jd) (Entered: 10/20/2009)
Transmission to Attorney Admissions Clerk. Transmitted re: 20 Order on Motion to Appear Pro
Hac Vice, to the Attorney Admissions Clerk for updating of Attorney Information. (jmi)
(Entered: 10/22/2009)
Case 1:10-cv-20236-ASG Document 29 Entered on FLSD Docket 01/26/2010 Page 6 of 7
11/16/2009
Ï 21
MOTION for Peter J. Roberts to Appear Pro Hac Vice. Document filed by MB Financial Bank,
N.A.(mro) (Entered: 11/17/2009)
11/18/2009
Ï
CASHIERS OFFICE REMARK on 21 Motion to Appear Pro Hac Vice in the amount of $25.00,
paid on 11/16/2009, Receipt Number 706253. (jd) (Entered: 11/18/2009)
11/20/2009
Ï 22
ORDER FOR ADMISSION PRO HAC VICE ON WRITTEN MOTION: granting 21 Motion for
Peter J. Roberts to Appear Pro Hac Vice. (Signed by Judge Laura Taylor Swain on 11/20/2009)
(jfe) (Entered: 11/20/2009)
11/20/2009
Ï
Transmission to Attorney Admissions Clerk. Transmitted re: 22 Order on Motion to Appear Pro
Hac Vice, to the Attorney Admissions Clerk for updating of Attorney Information. (jfe) (Entered:
11/20/2009)
11/24/2009
Ï 23
STIPULATION AND ORDER. Defendant shall have up to and including forty−five days from
the notice of entry of the order of the Judicial Panel on Multi−District Litigation (the MDL
Panel) on the pending Motion for Transfer to the Southern District of Florida and Consolidation
of Related Actions Pursuant to 28 U.S.C. section 1407 (in re Fontainebleau Las Vegas Contract
Litigation, MDL NO. 2106) to serve and file its response to the Complaint, unless the Plaintiffs
herein seek to amend their Complaint. Plaintiffs herein shall have thirty days from the notice of
entry of the MDL Panel's order to serve and file an Amended Complaint upon the consent of the
Defendant. Defendant shall have thirty days from the service of an Amended Complaint by
Plaintiffs herein to serve and file its response to the Amended Complaint; provided, however,
that in the event Plaintiffs herein move the Court for leave to file the proposed Amended
Complaint, then Defendant shall have thirty days from the notice of entry of order on such
motion to serve and file its response to the operative complaint herein. (Signed by Judge Laura
Taylor Swain on 11/23/09) (djc) (Entered: 11/24/2009)
11/24/2009
Ï 24
ENDORSED LETTER addressed to Judge Laura Taylor Swain from Steven Nachtwey dated
11/20/09 re: Parties request that the Initial Conference order be vacated until the Panel rules on
the pending motion. ENDORSEMENT: The initial conference date is adjourned to February 26,
2010 at 10:00 a.m. and the related deadlines are modified accordingly. (Signed by Judge Laura
Taylor Swain on 11/23/09) (djc) (Entered: 11/24/2009)
01/06/2010
Ï 25
MOTION for John D. Byars and Vincent S. J. Buccola to Appear Pro Hac Vice. Document filed
by ACP Master, Ltd., Aurelius Capital Master, Ltd.. (Attachments: # 1 Pro Hac Vice of
Buccola)(mbe) (Entered: 01/08/2010)
01/11/2010
Ï
CASHIERS OFFICE REMARK on 25 Motion to Appear Pro Hac Vice in the amount of $50.00,
paid on 01/07/2010, Receipt Number 890713. (jd) (Entered: 01/11/2010)
01/13/2010
Ï 26
ORDER FOR ADMISSION PRO HAC VICE ON WRITTEN MOTION: John D. Byars and
Vincent S.J. Buccola are admitted to practice pro hac vice as counsel for plaintiffs ACP Master,
Ltd and Aurelius Capital Mater, Ltd. in this case in the USDC for the SDNY as further set forth
herein. (Signed by Judge Laura Taylor Swain on 1/13/10) (dle) (Entered: 01/13/2010)
01/13/2010
Ï
Transmission to Attorney Admissions Clerk. Transmitted re: 26 Order on Motion to Appear Pro
Hac Vice, to the Attorney Admissions Clerk for updating of Attorney Information. (dle)
(Entered: 01/13/2010)
01/15/2010
Ï 27
AMENDED COMPLAINT amending 1 Complaint, against Merrill Lynch Capital Corporation,
JP Morgan Chase Bank, N.A., Barclays Bank PLC, Deutsche Bank Trust Company Americas,
The Royal Bank of Scotland PLC, Sumitomo Mitsui Banking Corporation, Bank of Scotland,
HSH Nordbank AG, MB Financial Bank, N.A., Camulos Master Fund, L.P., Bank of America,
N.A..Document filed by ACP Master, Ltd., Aurelius Capital Master, Ltd. Related document: 1
Complaint, filed by ACP Master, Ltd., Aurelius Capital Master, Ltd. (ama) (Entered: 01/19/2010)
Case 1:10-cv-20236-ASG Document 29 Entered on FLSD Docket 01/26/2010 Page 7 of 7
01/25/2010
Ï 28
01/25/2010
Ï
CERTIFIED TRUE COPY OF CONDITIONAL MDL TRANSFER OUT ORDER FROM THE
MDL PANEL...transferring this action from the U.S.D.C. − S.D.N.Y to the United States District
Court − Southern District of Florida. (Signed by MDL Panel on 1/4/10) (ldi) (Entered:
01/25/2010)
MDL TRANSFER OUT ELECTRONICALLY: to the United States District Court − Southern
District of Florida, except for document numbered 27 which was sent via Federal Express
AIRBILL # 8693 1747 1859 on 1/25/10. (ldi) (Entered: 01/25/2010)
Case 1:10-cv-20236-ASG Document 29-1 Entered on FLSD Docket 01/26/2010 Page 1 of 7
CLOSED, ECF
U.S. District Court
United States District Court for the Southern District of New York (Foley Square)
CIVIL DOCKET FOR CASE #: 1:09−cv−08064−LTS
Internal Use Only
ACP Master, Ltd. et al v. Bank of America, N.A. et al
Assigned to: Judge Laura Taylor Swain
Cause: 12:632 International Banking
Date Filed: 09/21/2009
Date Terminated: 01/25/2010
Jury Demand: None
Nature of Suit: 430 Banks and Banking
Jurisdiction: Federal Question
Plaintiff
ACP Master, Ltd.
represented by David Parker
Kleinberg,Kaplan,Wolff &Cohen,P.C.
551 Fifth Avenue
18th floor
New York , NY 10176
(212) 986−6000
Fax: (212) 986−8866
Email: dparker@kkwc.com
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
John D. Byars
Bartlit Beck Herman Palenchar &Scott LLP
54 West Hubbard
Suite 300
Chicago , IL 60610
(312) 494−4400
Fax: (312) 494−4440
Email: john.byars@bartlit−beck.com
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED
Vincent S.J Buccola
Bartlit Beck Herman Palenchar &Scott LLP
54 West Hubbard
Suite 300
Chicago , IL 60654
(312) 494−4400
Fax: (312) 494−4400
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED
James B. Heaton , III
Bartlit Beck Herman Palenchar &Scott LLP (IL)
54 West Hubbard Street
Suite 300
Chicago , IL 60610−4697
(312) 494−4400
Case 1:10-cv-20236-ASG Document 29-1 Entered on FLSD Docket 01/26/2010 Page 2 of 7
Fax: (312) 494−4440
Email: jb.heaton@bartlit−beck.com
ATTORNEY TO BE NOTICED
Marc R. Rosen
Kleinberg,Kaplan,Wolff &Cohen,P.C.
551 Fifth Avenue
New York , NY 10176
(212) 880−9897
Fax: (212) 986−8866
Email: mrosen@kkwc.com
ATTORNEY TO BE NOTICED
Steven James Nachtwey
Bartlit Beck Herman Palenchar &Scott LLP (IL)
54 West Hubbard Street
Suite 300
Chicago , IL 60610−4697
(312) 494−4400
Fax: (312) 494−4440
Email: steven.nachtwey@bartlit−beck.com
ATTORNEY TO BE NOTICED
Plaintiff
Aurelius Capital Master, Ltd.
represented by David Parker
(See above for address)
LEAD ATTORNEY
ATTORNEY TO BE NOTICED
John D. Byars
(See above for address)
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED
Vincent S.J Buccola
(See above for address)
LEAD ATTORNEY
PRO HAC VICE
ATTORNEY TO BE NOTICED
James B. Heaton , III
(See above for address)
ATTORNEY TO BE NOTICED
Marc R. Rosen
(See above for address)
ATTORNEY TO BE NOTICED
Steven James Nachtwey
(See above for address)
ATTORNEY TO BE NOTICED
Case 1:10-cv-20236-ASG Document 29-1 Entered on FLSD Docket 01/26/2010 Page 3 of 7
V.
Defendant
Bank of America, N.A.
Defendant
Merrill Lynch Capital Corporation
Defendant
JP Morgan Chase Bank, N.A.
Defendant
Barclays Bank PLC
Defendant
Deutsche Bank Trust Company Americas
Defendant
The Royal Bank of Scotland PLC
Defendant
Sumitomo Mitsui Banking Corporation
Defendant
Bank of Scotland
Defendant
HSH Nordbank AG
Defendant
MB Financial Bank, N.A.
represented by Peter J Roberts
Shaw Gussis Fishman Glant Wolfson &Towbin,
L.L.C.
321 North Clark Street
Suite 800
Chicago , IL 60654
(312) 276−1322
Fax: (312) 275−0568
PRO HAC VICE
ATTORNEY TO BE NOTICED
Defendant
Camulos Master Fund, L.P.
represented by Andrew Bennett Kratenstein
McDermott, Will &Emery, LLP (NY)
340 Madison Avenue
New York , NY 10017
(212) 547−5695
Case 1:10-cv-20236-ASG Document 29-1 Entered on FLSD Docket 01/26/2010 Page 4 of 7
Fax: (212) 547−5444
Email: akratenstein@mwe.com
ATTORNEY TO BE NOTICED
Date Filed
#
Docket Text
09/21/2009
Ï1
09/21/2009
Ï
SUMMONS ISSUED as to Merrill Lynch Capital Corporation, JP Morgan Chase Bank, N.A.,
Barclays Bank PLC, Deutsche Bank Trust Company Americas, The Royal Bank of Scotland
PLC, Sumitomo Mitsui Banking Corporation, Bank of Scotland, HSH Nordbank AG, MB
Financial Bank, N.A., Camulos Master Fund, L.P., Bank of America, N.A. (ama) (Entered:
09/22/2009)
09/21/2009
Ï
Magistrate Judge Theodore H. Katz is so designated. (ama) (Entered: 09/22/2009)
09/21/2009
Ï
Case Designated ECF. (ama) (Entered: 09/22/2009)
09/21/2009
Ï2
RULE 7.1 CORPORATE DISCLOSURE STATEMENT. Identifying Aurelius Capital Partners,
LP, Aurelius Capital GP,LLC as Corporate Parent. Document filed by ACP Master, Ltd.,
Aurelius Capital Master, Ltd.(ama) (Entered: 09/22/2009)
09/28/2009
Ï3
INITIAL CONFERENCE ORDER:... Initial Conference set for 12/17/2009 at 11:00 AM in
Courtroom 11C, 500 Pearl Street, New York, NY 10007 before Judge Laura Taylor Swain.
(Signed by Judge Laura Taylor Swain on 9/28/09) (cd) (Entered: 09/28/2009)
10/02/2009
Ï4
CERTIFICATE OF SERVICE of Initial Conference Order dated September 28, 2009 served on
Bank of America, N.A.; Bank of Scotland; Barclays Bank PLC; Camulos Master Fund, L.P.;
Deutsche Bank Trust; HSH Nordbank AG; JPMorgan Chase Bank, N.A.; MB Financial Bank,
N.A.; Merrill Lynch Capital Corporation; Sumitomo Mitsui Banking Corporation; and The Royal
Bank of Scotland PLC on October 2, 2009. Service was made by Federal Express. Document
filed by ACP Master, Ltd., Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/02/2009)
10/05/2009
Ï5
NOTICE OF APPEARANCE by Marc R. Rosen on behalf of ACP Master, Ltd., Aurelius Capital
Master, Ltd. (Rosen, Marc) (Entered: 10/05/2009)
10/06/2009
Ï6
AFFIDAVIT OF SERVICE. Bank of America, N.A. served on 9/23/2009, answer due
10/13/2009. Service was accepted by Alejandro Cordero. Document filed by ACP Master, Ltd.;
Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï7
AFFIDAVIT OF SERVICE. Barclays Bank PLC served on 9/23/2009, answer due 10/13/2009.
Service was accepted by Sandy Galicia. Document filed by ACP Master, Ltd.; Aurelius Capital
Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï8
AFFIDAVIT OF SERVICE. Camulos Master Fund, L.P. served on 9/24/2009, answer due
10/14/2009. Service was accepted by Carmel MacNulty. Document filed by ACP Master, Ltd.;
Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï9
AFFIDAVIT OF SERVICE. Deutsche Bank Trust Company Americas served on 9/23/2009,
answer due 10/13/2009. Service was accepted by Sandy Galicia. Document filed by ACP Master,
Ltd.; Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
COMPLAINT against Merrill Lynch Capital Corporation, JP Morgan Chase Bank, N.A.,
Barclays Bank PLC, Deutsche Bank Trust Company Americas, The Royal Bank of Scotland
PLC, Sumitomo Mitsui Banking Corporation, Bank of Scotland, HSH Nordbank AG, MB
Financial Bank, N.A., Camulos Master Fund, L.P., Bank of America, N.A. (Filing Fee $ 350.00,
Receipt Number 700407)Document filed by ACP Master, Ltd., Aurelius Capital Master,
Ltd.(ama) (Entered: 09/22/2009)
Case 1:10-cv-20236-ASG Document 29-1 Entered on FLSD Docket 01/26/2010 Page 5 of 7
10/06/2009
Ï 10
AFFIDAVIT OF SERVICE. HSH Nordbank AG served on 9/23/2009, answer due 10/13/2009.
Service was accepted by David C. Wolinsky. Document filed by ACP Master, Ltd.; Aurelius
Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï 11
AFFIDAVIT OF SERVICE. MB Financial Bank, N.A. served on 9/28/2009, answer due
10/19/2009. Service was accepted by Tricia Cherry. Document filed by ACP Master, Ltd.;
Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï 12
AFFIDAVIT OF SERVICE. Merrill Lynch Capital Corporation served on 9/23/2009, answer due
10/13/2009. Service was accepted by Aixa Flores. Document filed by ACP Master, Ltd.; Aurelius
Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï 13
AFFIDAVIT OF SERVICE. The Royal Bank of Scotland PLC served on 9/23/2009, answer due
10/13/2009. Service was accepted by Lucy Wnuk. Document filed by ACP Master, Ltd.;
Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï 14
AFFIDAVIT OF SERVICE. Sumitomo Mitsui Banking Corporation served on 9/23/2009,
answer due 10/13/2009. Service was accepted by Sandy Galicia. Document filed by ACP Master,
Ltd.; Aurelius Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/06/2009
Ï 15
AFFIDAVIT OF SERVICE. Bank of Scotland served on 10/2/2009, answer due 10/22/2009.
Service was accepted by Aixa Flores. Document filed by ACP Master, Ltd.; Aurelius Capital
Master, Ltd.. (Rosen, Marc) (Entered: 10/06/2009)
10/07/2009
Ï 16
AFFIDAVIT OF SERVICE. JP Morgan Chase Bank, N.A. served on 10/1/2009, answer due
10/21/2009. Service was accepted by Jody Peck. Document filed by ACP Master, Ltd.; Aurelius
Capital Master, Ltd.. (Rosen, Marc) (Entered: 10/07/2009)
10/14/2009
Ï 17
NOTICE OF APPEARANCE by Andrew Bennett Kratenstein on behalf of Camulos Master
Fund, L.P. (Kratenstein, Andrew) (Entered: 10/14/2009)
10/15/2009
Ï 18
MOTION for James B. Heaton, III and Steven J. Nachtwey to Appear Pro Hac Vice. Document
filed by ACP Master, Ltd., Aurelius Capital Master, Ltd.(dle) (Entered: 10/16/2009)
10/20/2009
Ï
10/20/2009
Ï 19
STIPULATION AND ORDER: It is hereby stipulated and agreed by and between the parties that
Defendants shall have up to and including forty−five (45) days from the notice ofentry of the
order of the Judicial Panel on Multi−District Litigation (the "MDL Panel") on the pending
Motion for Transfer to the Southern District of Florida and Consolidation of Related Actions
Pursuant to 28 U.S.c. § 1407 (In re Fontainebleau Las Vegas Contract Litigation, MDL No.
2106) to serve and file their responses to the Complaint, unless the Plaintiffs herein seek to
amend their Complaint. Plaintiffs herein shall have thirty (30) days from the notice of entry of the
MDL Panel's order to serve and tile an Amended Complaint upon the consent of the Defendants.
Defendants shall have thirty (30) days from the service of an Amended Complaint by Plaintiffs
herein to serve and tile their responses to the Amended Complaint; provided, however, that in the
event Plaintiffs herein move the Court for leave to tile the proposed Amended Complaint, then
the Defendants shall have thirty (30) days from the no tice of entry of order on such motion to
serve and file their responses to the operative complaint herein. (Signed by Judge Laura Taylor
Swain on 10/19/2009) (jpo) (Entered: 10/21/2009)
10/22/2009
Ï 20
ORDER granting 18 Motion for James B. Heaton, III and Steven J. Nachtwey to Appear Pro Hac
Vice for ACP Master, Ltd., Aurelius Capital Master, Ltd. (Signed by Judge Laura Taylor Swain
on 10/21/2009) (jmi) (Entered: 10/22/2009)
10/22/2009
Ï
CASHIERS OFFICE REMARK on 18 Motion to Appear Pro Hac Vice in the amount of $50.00,
paid on 10/15/2009, Receipt Number 702853. (jd) (Entered: 10/20/2009)
Transmission to Attorney Admissions Clerk. Transmitted re: 20 Order on Motion to Appear Pro
Case 1:10-cv-20236-ASG Document 29-1 Entered on FLSD Docket 01/26/2010 Page 6 of 7
Hac Vice, to the Attorney Admissions Clerk for updating of Attorney Information. (jmi)
(Entered: 10/22/2009)
11/16/2009
Ï 21
MOTION for Peter J. Roberts to Appear Pro Hac Vice. Document filed by MB Financial Bank,
N.A.(mro) (Entered: 11/17/2009)
11/18/2009
Ï
CASHIERS OFFICE REMARK on 21 Motion to Appear Pro Hac Vice in the amount of $25.00,
paid on 11/16/2009, Receipt Number 706253. (jd) (Entered: 11/18/2009)
11/20/2009
Ï 22
ORDER FOR ADMISSION PRO HAC VICE ON WRITTEN MOTION: granting 21 Motion for
Peter J. Roberts to Appear Pro Hac Vice. (Signed by Judge Laura Taylor Swain on 11/20/2009)
(jfe) (Entered: 11/20/2009)
11/20/2009
Ï
Transmission to Attorney Admissions Clerk. Transmitted re: 22 Order on Motion to Appear Pro
Hac Vice, to the Attorney Admissions Clerk for updating of Attorney Information. (jfe) (Entered:
11/20/2009)
11/24/2009
Ï 23
STIPULATION AND ORDER. Defendant shall have up to and including forty−five days from
the notice of entry of the order of the Judicial Panel on Multi−District Litigation (the MDL
Panel) on the pending Motion for Transfer to the Southern District of Florida and Consolidation
of Related Actions Pursuant to 28 U.S.C. section 1407 (in re Fontainebleau Las Vegas Contract
Litigation, MDL NO. 2106) to serve and file its response to the Complaint, unless the Plaintiffs
herein seek to amend their Complaint. Plaintiffs herein shall have thirty days from the notice of
entry of the MDL Panel's order to serve and file an Amended Complaint upon the consent of the
Defendant. Defendant shall have thirty days from the service of an Amended Complaint by
Plaintiffs herein to serve and file its response to the Amended Complaint; provided, however,
that in the event Plaintiffs herein move the Court for leave to file the proposed Amended
Complaint, then Defendant shall have thirty days from the notice of entry of order on such
motion to serve and file its response to the operative complaint herein. (Signed by Judge Laura
Taylor Swain on 11/23/09) (djc) (Entered: 11/24/2009)
11/24/2009
Ï 24
ENDORSED LETTER addressed to Judge Laura Taylor Swain from Steven Nachtwey dated
11/20/09 re: Parties request that the Initial Conference order be vacated until the Panel rules on
the pending motion. ENDORSEMENT: The initial conference date is adjourned to February 26,
2010 at 10:00 a.m. and the related deadlines are modified accordingly. (Signed by Judge Laura
Taylor Swain on 11/23/09) (djc) (Entered: 11/24/2009)
01/06/2010
Ï 25
MOTION for John D. Byars and Vincent S. J. Buccola to Appear Pro Hac Vice. Document filed
by ACP Master, Ltd., Aurelius Capital Master, Ltd.. (Attachments: # 1 Pro Hac Vice of
Buccola)(mbe) (Entered: 01/08/2010)
01/11/2010
Ï
CASHIERS OFFICE REMARK on 25 Motion to Appear Pro Hac Vice in the amount of $50.00,
paid on 01/07/2010, Receipt Number 890713. (jd) (Entered: 01/11/2010)
01/13/2010
Ï 26
ORDER FOR ADMISSION PRO HAC VICE ON WRITTEN MOTION: John D. Byars and
Vincent S.J. Buccola are admitted to practice pro hac vice as counsel for plaintiffs ACP Master,
Ltd and Aurelius Capital Mater, Ltd. in this case in the USDC for the SDNY as further set forth
herein. (Signed by Judge Laura Taylor Swain on 1/13/10) (dle) (Entered: 01/13/2010)
01/13/2010
Ï
Transmission to Attorney Admissions Clerk. Transmitted re: 26 Order on Motion to Appear Pro
Hac Vice, to the Attorney Admissions Clerk for updating of Attorney Information. (dle)
(Entered: 01/13/2010)
01/15/2010
Ï 27
AMENDED COMPLAINT amending 1 Complaint, against Merrill Lynch Capital Corporation,
JP Morgan Chase Bank, N.A., Barclays Bank PLC, Deutsche Bank Trust Company Americas,
The Royal Bank of Scotland PLC, Sumitomo Mitsui Banking Corporation, Bank of Scotland,
HSH Nordbank AG, MB Financial Bank, N.A., Camulos Master Fund, L.P., Bank of America,
Case 1:10-cv-20236-ASG Document 29-1 Entered on FLSD Docket 01/26/2010 Page 7 of 7
N.A..Document filed by ACP Master, Ltd., Aurelius Capital Master, Ltd. Related document: 1
Complaint, filed by ACP Master, Ltd., Aurelius Capital Master, Ltd. (ama) (Entered: 01/19/2010)
01/25/2010
Ï 28
01/25/2010
Ï
CERTIFIED TRUE COPY OF CONDITIONAL MDL TRANSFER OUT ORDER FROM THE
MDL PANEL...transferring this action from the U.S.D.C. − S.D.N.Y to the United States District
Court − Southern District of Florida. (Signed by MDL Panel on 1/4/10) (ldi) (Entered:
01/25/2010)
MDL TRANSFER OUT ELECTRONICALLY: to the United States District Court − Southern
District of Florida, except for document numbered 27 which was sent via Federal Express
AIRBILL # 8693 1747 1859 on 1/25/10. (ldi) (Entered: 01/25/2010)
Case 1:10-cv-20236-ASG Document 31 Entered on FLSD Docket 01/28/2010 Page 1 of 2
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
CASE NO. 10-20236-CIV-GOLD/MCALILEY
In re:
ACP Master, Ltd. and
Aurelius Capital Master, Ltd.
Plaintiffs,
v.
Bank of America, N.A., et al.
/
NOTICE OF APPEARANCE OF BRETT M. AMRON AS COUNSEL FOR
AURELIUS CAPITAL MASTER, LTD. AND ACP MASTER, LTD.
PLEASE TAKE NOTICE that Brett M. Amron and the law firm of Bast Amron LLP, hereby
gives notice of their appearance as counsel on behalf of Aurelius Capital Master, Ltd. and ACP
Master Ltd. and the undersigned requests that all notices given or required to be served in the abovereferenced cases be given to and served upon Brett M. Amron, Esq. at the following address:
BAST AMRON LLP
SunTrust International Center
One Southeast Third Avenue
Suite 1440
Miami, FL 33131
Telephone: (305) 379-7904
Facsimile: (305) 379-7905
Email: bamron@bastamron.com
[Signature Page to Follow]
Case 1:10-cv-20236-ASG Document 31 Entered on FLSD Docket 01/28/2010 Page 2 of 2
Respectfully submitted,
BAST AMRON LLP
SunTrust International Center
One Southeast Third Avenue
Suite 1440
Miami, FL 33131
Telephone: (305) 379-7904
Facsimile: (305) 379-7905
Email: bamron@bastamron.com
By: /s/ Brett M. Amron_____________________
Brett M. Amron, Esq.
Florida Bar No. 148342
CERTIFICATE OF SERVICE
I HEREBY CERTIFY that a true and correct copy of this Notice of Appearance has been
served electronically via the Court’s CM/ECF system where available and/or via U.S. Mail upon
those parties not registered to receive notification via the Court’s CM/ECF system on this the 28th
day of January, 2010.
By: /s/ Brett M. Amron_____________________
Brett M. Amron
2
Case 1:10-cv-20236-ASG Document 45 Entered on FLSD Docket 02/25/2010 Page 1 of 1
Case 1:10-cv-20236-ASG Document 53 Entered on FLSD Docket 05/28/2010 Page 1 of 1
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 1 of 31
Case 1:09-md-02106-ASG Document 80
Entered on FLSD Docket 05/28/2010 Page 1 of 31
IN THE UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
CASE NO. 09-MD-2106-CIV-GOLD/BANDSTRA
In re:
FONTAINEBLEAU LAS VEGAS
CONTRACT LITIGATION
This document applies to:
Case No.: 09-CV-23835-ASG
Case No.: 10-CV-20236-ASG
____________________________________/
AMENDED1 MDL ORDER NUMBER EIGHTEEN;2 GRANTING IN
PART AND DENYING IN PART MOTIONS TO DISMISS [DE 35]; [DE 36];
REQUIRING ANSWER TO COMPLAINTS; VACATING FINAL JUDGMENT3
I.
Introduction
THIS CAUSE is before the Court upon the Revolving Lender Defendants’ Motion
to Dismiss [DE 36] and Bank of America’s Motion to Dismiss [DE 35] (“the Motions”).
Responses and replies were timely filed with respect to both motions, see [DE 50]; [DE
52]; [DE 56]; [DE 57], and on May 7, 2010, oral argument was held. I have jurisdiction
pursuant to 12 U.S.C. § 632, as it is undisputed that both actions at issue are “suits of a
civil nature at common law . . . to which [a] corporation organized under the laws of the
United States [is] a party [and which] aris[es] out of transactions involving international or
foreign banking.” Having considered the relevant submissions, the arguments of the
1
This Order corrects the inadvertent closure of the Aurelius Action. Count III of the
Aurelius Complaint remains pending and the final judgment issued in that case must therefore
be vacated.
2
Although not labeled as such, MDL Order Number Seventeen appears at [DE 74].
3
All docket entry citations refer to the MDL Master Docket – i.e., Case No.: 09-MD-2106
(S.D. Fla. 2009) – unless otherwise indicated.
1
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 2 of 31
parties, the applicable law, and being otherwise duly advised in the Premises, I grant the
Motions in part and dismiss certain claims for the reasons that follow.
II.
Relevant Factual and Procedural Background4
Although the facts giving rise to the claims at issue are detailed in my August 26,
2009 Order Denying Fontainebleau’s Motion for Partial Summary Judgment in the
Southern District of Florida Action, see generally Fontainebleau Las Vegas, LLC v. Bank
of America, N.A., 417 B.R. 651 (S.D. Fla. 2009) (“August 26 Order”), I reiterate the relevant
factual background here with citations to the operative complaints5 to ensure that the
record clearly demonstrates that the facts and inferences upon which this Order is
predicated are drawn only from the operative complaints and the referenced undisputed
central documents.
A.
The Credit Agreement and Disbursement Agreement
On June 6, 2007, Fontainebleau Las Vegas LLC and affiliated entities
(“Fontainebleau”) entered into a series of agreements with a number of lenders (“the
Lenders”) for loans to be used for the construction and development of the Fontainebleau
Resort and Casino in Las Vegas, Nevada (“the Project”). (Avenue Compl.6 at ¶ ¶ 113-115);
4
For purposes of a motion to dismiss, I take as true all factual allegations in the
operative complaints and limit my consideration to the four corners of the complaints and any
documents referenced in the complaints which are central to the claims. Griffin Industries, Inc.
v. Irvin, 496 F.3d 1189, 1199 (11th Cir. 2007); Wilchombe v. TeeVee Toons, Inc., 555 F.3d 949,
959 (11th Cir. 2009). To the extent the central documents contradict the general and
conclusory allegations of the pleading, the documents govern. See Griffin, 496 F.3d at 1206.
5
See note 5, infra.
6
The operative complaint in the case of Avenue CLO Fund, Ltd.,et al. v. Bank of
America, N.A., et al., Case No.: 09-CV-23835 [DE 84] (S.D. Fla. 2009), will be referred to
throughout as the “Avenue Complaint.” The operative complaint in the case of ACP Master Ltd.
and Aurelius Capital Master, Ltd. v. Bank of America, N.A., et al., Case No.: 10-CV-20236 [DE
2
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 3 of 31
(Aurelius Compl. at ¶ ¶ 2-4); see generally [DE 37-1] (“Cr. Agr.”); [DE 37-2] (“Disb. Agr.”).
Among the agreements entered into by Fontainebleau and the Lenders were a Credit
Agreement and a Disbursement Agreement. (Avenue Compl. at ¶ 115); (Aurelius Compl.
at ¶ ¶ 3, 27). It is these two agreements that are the subject of the operative complaints.
In connection with the June 6, 2007 loan transaction, Fontainebleau and the
Lenders entered into a Credit Agreement that provided, among other things, for a syndicate
of lenders to provide three kinds of loans to Fontainebleau: (a) $700 million initial term loan
facility (“the Initial Term Loan”); (b) a $350 million delay draw term loan facility (“the Delay
Draw Term Loan”); and (c) an $800 million revolving loan facility (“the Revolving Loan”).
(Avenue Compl. at ¶ 115); (Aurelius Compl. at ¶ ¶ 23-24); (Cr. Agmt. at 22, 38). The
Plaintiffs proceeding on the Avenue Complaint (“the Avenue Plaintiffs”) are comprised of
certain term lenders that participated in either the Initial Term Loan and/or the Delay Draw
Term Loan. (Avenue Compl. at ¶ ¶ 115, 117). The Plaintiffs proceeding on the Aurelius
Complaint (“the Aurelius Plaintiffs”) are successors-in-interest to certain Term Lenders that
participated in either the Initial Term Loan and/or the Delay Draw Term Loan (Aurelius
Compl. at ¶ ¶ 10, 25).
Both the Avenue and Aurelius Defendants (collectively
“Defendants”) are lenders that agreed to fund certain amounts under the Revolving Loan.
(Avenue Compl. at ¶ ¶ 102-112); (Aurelius Compl. at ¶ ¶ 11-22). In addition to being a
Revolving Lender, Defendant Bank of America also was the Administrative Agent for
purposes of the Credit Agreement. (Cr. Agr. at 8).
While the Initial Term Loan was to be made on the date of closing, (Cr. Agmt. at 22),
27] (S.D. Fla. 2010), will be referred to throughout as the “Aurelius Complaint.”
3
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 4 of 31
the borrowing of funds under the Delay Draw and Revolving Loans prior to the Project’s
opening date was governed by a two-step borrowing process set forth in the Credit and
Disbursement Agreements. (Aurelius Compl. at ¶ 32-33); (Avenue Compl. at ¶ 119). First,
Fontainebleau was required to submit a Notice of Borrowing to the Administrative Agent
(i.e., Bank of America) specifying the requested loans and the designated borrowing date.
(Aurelius Compl. at ¶ 33); (Avenue Compl. at ¶ 119); (Cr. Agmt. § 2.4(a)). Upon receipt
of each Notice of Borrowing, the Administrative Agent was required to notify each lender,
as appropriate, so that each lender could, “subject [] to the fulfillment of the applicable
conditions precedent set forth in Section 5.2 [of the Credit Agreement]” and in accordance
with Section 2.1, make its pro rata share of the requested loans available to the
Administrative Agent on the borrowing date requested by Fontainebleau. (Cr. Agr. § §
2.1(c); 2.4(b)). Then, “[u]pon satisfaction or waiver of the applicable conditions precedent
specified in Section 2.1,” Section 2.4(c) of the Credit Agreement called for the proceeds
of the loans to be “remitted to the Bank Proceeds Account and made available to
[Fontainebleau] in accordance with and upon fulfillment of conditions set forth in the
Disbursement Agreement.”
The second step in the borrowing process concerns Fontainbleau’s access to the
funds remitted to the Bank Proceeds Account and is governed by the Disbursement
Agreement. To access these funds, Fontainebleau was required to fulfill certain conditions
set forth in the Disbursement Agreement – including, but not limited to, the submission of
an Advance Request to Defendant Bank of America as Disbursement Agent – at which
point the loan proceeds would be disbursed in accordance with the Disbursement
Agreement. (Avenue Compl. at ¶ 120); (Aurelius Compl. at ¶ 37); see also (Disb. Agr. §
4
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 5 of 31
§ 2.4, 3.3).
However, pursuant to Section 2.5.1 of the Disbursement Agreement,
Fontainebleau’s right to disbursements was not absolute. That section provides that
Defendant Bank of America (as Disbursement Agent) was required to issue a Stop Funding
Notice “[i]n the event that (i) the conditions precedent to an Advance [set forth in Section
3.3 of the Disbursement Agreement] have not been satisfied, or (ii) [Wells Fargo, N.A. or
Bank of America] notifies the Disbursement Agent [Bank of America] that a Default or an
Event of Default has occurred and is continuing . . . .“ (Disb. Agr. § 2.5.1); (Aurelius
Compl. at ¶ 37); (Avenue Compl. at ¶ 124). Under the Disbursement Agreement, the
issuance of a Stop Funding Notice has the effect of preventing disbursements from the
accounts subject to certain waiver provisions and limited exceptions not at issue. (Disb.
Agr. § 2.5.2).
As noted, Defendants’ agreement to make Revolving Loans to Fontainebleau is
governed by Section 2.1(c) of the Credit Agreement. The first sentence of Section 2.1(c)
provides, in pertinent part, that “[s]ubject to the terms and conditions [of the Credit
Agreement],7 each Revolving Lender severally agrees to make Revolving Loans to
[Fontainebleau] provided that . . . unless the Total Delay Draw Commitments have been
fully drawn, the aggregate outstanding principal amount of all Revolving Loans and Swing
Line Loans shall not exceed $150,000,000.” (emphasis in original). The second sentence
of Section 2.1(c) provides that “[t]he making of Revolving Loans which are Disbursement
Agreement Loans shall be subject only to the fulfillment of the applicable conditions set
7
The provision reads “[s]ubject to the terms and conditions hereof.” (Cr. Agr. § 2.1(c)).
Section 1.2 states that “hereof . . . shall refer to this Agreement as a whole.”
5
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 6 of 31
forth in Section 5.2.” (emphasis in original). Section 5.2 provides, in pertinent part, that
“[t]he agreement of each lender to make [the Revolving Loans at issue here] . . . is subject
only to the satisfaction of following conditions precedent: (a) Borrowers shall have
submitted a Notice of Borrowing specifying the amount and Type of the Loans requested,
and the making thereof shall be in compliance with the applicable provisions of Section 2
of this Agreement.”8
B.
The March 2009 Notices of Borrowing and Disbursements
On March 2, 2009, Fontainebleau submitted a Notice of Borrowing (“March 2
Notice”) to Defendant Bank of America, as Administrative Agent, that simultaneously
“request[ed]” the entire amount available under the Delay Draw Term Loan (i.e.,
$350,000,000) and the Revolving Loan (i.e., $670,000,000).9 (Aurelius Compl. at ¶ 44);
(Avenue Compl. at ¶ 141). At the time of the March 2, 2009 request, approximately $68
million in Revolving Loans had previously been funded and remained outstanding.
(Aurelius Compl. at ¶ 45); (Avenue Compl. at ¶ 152). On March 3, 2009, Bank of America,
as Administrative Agent, wrote to Fontainebleau rejecting the March 2 Notice, stating that
the March 2 Notice did not comply with Section 2.1(c)(iii) of the Credit Agreement, which
does not allow the aggregate outstanding principal amount of the Revolving Loans to
8
The second and third conditions precedent set forth in Section 5.2 are not relevant to
the claims at bar.
9
The Aurelius Complaint alleges that Fontainebleau issued a Notice of Borrowing
“drawing” the above-referenced loans on March 2, 2009. (Aurelius Compl. ¶ 44). However, the
Notice of Borrowing, which is reproduced in the body of the Complaint, states that
Fontainebleau was “requesting a Loan under the Credit Agreement.” Id. at 11. Where there is
a conflict between allegations in a pleading and the central documents, the contents of the
documents control. See Section III, infra.
6
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 7 of 31
exceed $150,000,000 unless the Delay Draw Term Loans have been “fully drawn.”
(Aurelius Compl. ¶ ¶ 50-51); (Avenue Compl. at ¶ ¶ 143-45).
On March 3, 2009,
Fontainebleau wrote to Bank of America articulating its position that its March 2, 2009
Notice complied with the Credit Agreement because “fully drawn” meant “fully requested,”
not “fully funded,” as Bank of America was contending. (Aurelius Compl. at ¶ ¶ 54-55);
(Avenue Compl. at ¶ 141). Thus, according to Fontainebleau, the simultaneous request for
the remainder of the Delay Draw Term Loan and the Revolving Loans complied with the
Credit Agreement because the Delay Draw Term Loans had been “fully drawn” by virtue
of having been “fully requested.” Id.
On March 3, 2009, Fontainebleau issued another Notice of Borrowing (“the March
3 Notice), which was nearly identical to the March 2 Notice, but purported to correct a
“scrivener’s error” in the March 2 Notice by reducing the amount of Revolving Loans
requested from $670,000,000 to approximately $656 million in order to account for
approximately $14 million of Letters of Credit that were outstanding and had not been
considered in connection with the March 2 Notice. (Avenue Compl. at ¶ 141); (Aurelius
Compl at ¶ 56). On March 4, 2009, Defendant Bank of America rejected the March 3
Notice for the same reason it rejected the March 2 Notice (i.e., the Notice, which
simultaneously requested $350,000,000 in Delay Draw Term Loans and Revolving Loans
in excess of $150,000,000 in Revolving Loans, did not comply with Section 2.1(c)(iii)
because the Delay Draw Term loans had not yet been “fully drawn”). (Aurelius Compl. at
¶ 57); (Avenue Comp. at ¶ 144).
In an attempt to remedy the “fully drawn” issue, Fontainebleau issued yet another
Notice of Borrowing on March 9, 2009 (“the March 9 Notice”). (Aurelius Compl. at ¶ 65)
7
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 8 of 31
(Avenue Compl. at ¶ 151). The March 9Notice was directed solely to the Delay Draw Term
Loan, requesting the full amount of the $350,000,000 commitment. Id. Despite the fact
that Bank of America “received notice . . . [i]n September and October 2008 that Lehman
[Brothers] fail[ed] to comply with its funding obligations under the Retail Facility” in violation
of Section 3.3.3 of the Disbursement Agreement, Defendant Bank of America did not issue
a “Stop Funding Notice.” (Aurelius Compl. at ¶ ¶ 96-109); (Avenue Compl. at ¶ ¶ 129-133).
Instead, it processed the March 9 Notice and sent it to all the Delay Draw Term Lenders,
advising them that the March Notice complied with the Credit Agreement and that the
Delay Draw Lenders were required to fund. (Aurelius Compl. at ¶ 66); (Avenue Compl. at
¶ 153). Plaintiffs allege that Bank of America “willfully took no action in response to the
notice” regarding Lehman Brothers’ default, “favor[ed] its own interests over those of the
Delay Draw lenders” by failing to issue a Stop Funding Notice, (Aurelius Compl. at ¶ ¶ 109,
151), and failed to act “because it wished to preserve its ongoing business relationship with
the Borrower and its principal indirect owners, including Jeffrey Soffer.” (Avenue Compl.
at ¶ 129-30).
On or about March 10, 2009, Plaintiffs funded their commitments under the Delay
Draw Term Loans. In all, the Delay Draw Term Loan Lenders funded approximately
$337,000,000 of the $350,00,000 Delay Draw Loan.10 (Aurelius Compl. ¶ ¶ at 66-67);
(Avenue Compl. at ¶ 154). Of these Delay Draw Term Loan proceeds, $68,000,000 were
used to repay “then outstanding” Revolving Loans in accordance with Section 2.1(b)(iii) of
10
The $13 million financing gap resulted from the failure of certain Delay Draw Term
Lenders to fund their respective portions of the Delay Draw Term Loans in response to the
March 9 Notice. (Avenue Compl. at ¶ 157). This financing gap, however, is irrelevant for
purposes in this Order.
8
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 9 of 31
the Credit Agreement, of which a twenty-five percent share was attributable to Bank of
America as a Revolving Lender. (Avenue Compl. at ¶ ¶ 152-53). Then, on or about March
25, 2009, Bank of America disbursed more than $100,000,000 of the Delay Draw Term
Loan proceeds to Fontainebleau pursuant to an Advance Request submitted on March 25,
2009. (Avenue Compl. at ¶ 165); (Aurelius Compl. at ¶ 124). In addition, on or about
March 23, 2009, Bank of America sent a letter to Fontainebleau regarding the Revolving
Loans; the letter stated that because “almost all of the [Delay Draw Term Loans] have
funded . . . Section 2.1(c)(iii) now permits the Borrower to request Revolving Loans which
result in the aggregate amount outstanding under the Revolving Commitments being in
excess of $150,000,000.” (Aurelius Compl. at ¶ 89); (Avenue Compl. at ¶ 163).
C.
Events Subsequent to the March 25 Advance
On April 20, 2009, Bank of America, “in its capacity as Administrative Agent, sent
a letter to [Fontainebleau], the Lenders and other parties, in which [Bank of America]
advised that . . . [it has been] determined that one or more Events of Default have occurred
and are occurring” and stating that the Revolving Loan commitments were being
”terminated effective immediately“ pursuant to Section 8 of the Credit Agreement (“the
Termination Notice”).
(Aurelius Compl. at ¶ 73); (Avenue Compl. at ¶ ¶ 167-68).
According to Plaintiffs, Bank of America was aware of these Events of Default prior to the
March 25, 2009 Delay Draw Term Loan disbursement, but failed to take appropriate action
(e.g., issuing a Stop Funding Notice). (Aurelius Compl. at ¶ 128); (Avenue Compl. at ¶
167).
On April 21, 2009, Fontainebleau sent a Notice of Borrowing (“the April 21 Notice”)
requesting $710,000,000 under the Revolving Loan facility; this Notice of Borrowing was
9
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 10 of 31
not honored. (Aurelius Compl. at ¶ ¶ 71-72); (Avenue Compl. at ¶ 169). Subsequent to
April 21, 2009, the Project was “derailed and the value of the collateral securing Plaintiffs’
loans [was] substantially diminished.” (Avenue Compl. at ¶ 172); (Aurelius Compl. at ¶
153). Plaintiffs allege that they have been damaged by the derailment of the Project, the
diminution in the value of their collateral, and the purportedly improper March 25
disbursement of Delay Draw Term Loan proceeds; it is further alleged that these damages
were the result of Defendants’ improper failure to fund the March 3, 2009 Notice and Bank
of America’s material breaches of the Credit and Disbursement Agreements. (Aurelius
Compl. at ¶ 151-53); (Avenue Compl. at ¶ 172).
Based on these allegations, the Avenue and Aurelius Plaintiffs filed the instant
lawsuits in June and September 2009, respectively. The Aurelius Complaint asserts three
causes of action. The first is a contract claim against all Defendants for breach of the
Credit Agreement as a result of their failure to fund the Notices of Borrowing submitted on
or about March 2 and 3, 2009. The second is also a contract claim for breach of the Credit
Agreement against all Defendants, but is predicated upon Defendants’ failure to fund the
April 21, 2009 Notice of Borrowing. The third count also sounds in contract, but asserts
a breach of the Disbursement Agreement against Bank of America.
The Avenue Complaint, on the other hand, asserts six causes of action: the first is
for breach of the Disbursement Agreement against Bank of America; the second is for
breach of the Credit Agreement against all Defendants; the third asserts that Bank of
America breached the implied covenant of good faith and fair dealing by favoring its own
interests and those of the Revolving Lenders (including itself) over those of the Term
Lenders and failing to communicate with the Term Lenders regarding Events of Default;
10
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 11 of 31
the fourth alleges that all Defendants breached the implied covenant of good faith and fair
dealing by adopting a contrived construction of the Credit Agreement in order to justify their
refusal to fund the March 2 and 3 Notices; and finally, the fifth and sixth counts request
declaratory relief regarding the parties’ rights and obligations vis-a-vis the Credit and
Disbursement Agreements. Pursuant to Rule 12(b)(6), Defendants now request dismissal
of Plaintiffs’ breach of contract and implied covenant claims. See [DE 35]; [DE 36].
D.
The Southern District of Florida Action and the Current MDL Proceedings
When Fontainebleau’s project was derailed in Spring 2009, Fontainebleau filed a
voluntary Chapter 11 petition in the United States Bankruptcy Court for the Southern
District of Florida. On the same day that Fontainebleau filed for bankruptcy protection, it
commenced an adversary proceeding against the Revolving Lenders (including Bank of
America) seeking, among other things, a ruling requiring the Revolving Lenders to “turn
over” the approximately $657 million requested via the March 3 Notice to the bankruptcy
estate in pursuant to 11 U.S.C. § 542(b) (“the Florida Action”). On June 9, 2009,
Fontainebleau filed a Motion for Partial Summary Judgment in the Bankruptcy Court as to
its turnover claim, and on June 16, 2009, Defendants filed a Motion to Withdraw the
Reference pursuant to 28 U.S.C. § 157(d). On August 4, 2009, I granted Defendants’
Motion to Withdraw the Reference in the Florida Action. After permitting the Term Lenders
to file an amicus brief, I denied Fontainebleau’s motion for partial summary judgment,
concluding as a matter of law that, for purposes of the Credit Agreement, “fully drawn”
unambiguously means “fully funded.” Fontainebleau Las Vegas, LLC v. Bank of America,
11
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 12 of 31
N.A., 417 B.R. 651, 660 (S.D. Fla. 2009).11
In December 2009, the Joint Panel on Multi-District Litigation (“the Panel”) heard the
Avenue Plaintiffs’ motion for centralization of their lawsuit and the Florida Action in the
Southern District of New York. Defendants and the Aurelius Plaintiffs objected, requesting
that the suits be transferred to the Southern District of Florida for pre-trial proceedings.
After considering the parties’ positions, the Panel issued an Order finding “that
centralization under Section 1407 in the Southern District of Florida will serve the
convenience of the parties and witnesses and promote the just and efficient conduct of the
litigation.” In re: Fontainebleau Las Vegas Contract Litigation, 657 F. Supp. 2d 1374, 1375
(J.P.M.L. 2009). Following the issuance of the Panel’s Order, the Avenue Action was
transferred to me for pre-trial proceedings. Approximately one month later, the Aurelius
Action was also transferred to me as a “tag-along” action in accordance with the Panel’s
directive. Id. at 1374 n.2. As the MDL judge, I now consider the instant motions to
dismiss. See Rule 7.6, R.P.J.P.M.L. (providing that transferee district court may hear and
enter judgment upon a motion to dismiss).
III.
Standard of Review
For purposes of deciding a motion to dismiss, my review is limited to the four
corners of the operative complaint and any documents referred to therein that are central
11
Alternatively, I noted that “even if my conclusion that ‘fully drawn’ unambiguously
means ‘fully funded’ is in error . . . [Fontainebleau’s] reasoning at best suggests that its
interpretation is a reasonable one, but not the conclusive one, and requires the denial of partial
summary judgment.” Id. at 661. I further noted that “[e]ven if [Fontainebleau] is correct that the
term ‘fully drawn’ unambiguously means ‘fully requested,’ I am persuaded by Defendants'
arguments that they were entitled to reject the March 2 Notice on the basis of Plaintiffs default”
and found there to be “genuine issue[s] of material fact as to whether Borrower was in default
as of March 3, 2009.” Id. at 663-65.
12
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 13 of 31
to the claims at issue. Griffin Industries, Inc. v. Irvin, 496 F.3d 1189, 1199 (11th Cir. 2007);
Wilchombe v. TeeVee Toons, Inc., 555 F.3d 949, 959 (11th Cir. 2009); see also Day v.
Taylor, 400 F.3d 1272, 1276 (11th Cir. 2005) (noting that district courts “may consider a
document attached to a motion to dismiss without converting the motion into one for
summary judgment if the attached document is (1) central to the plaintiff's claim and (2)
undisputed”). Where there is a conflict between allegations in a pleading and the central
documents, it is “well settled” that the contents of the documents control. Griffin, 496 F.3d
at 1206 (quoting Simmons v. Peavy-Welsh Lumber Co., 113 F.2d 812, 813 (5th Cir. 1940)).
Thus, only the contents of the operative complaints and the undisputed central documents
will be considered for purposes of this Order.
In determining whether to grant Defendants’ motions to dismiss, I must accept all
the factual allegations12 in the complaints as true and evaluate all reasonable inferences
derived from those facts in the light most favorable to the Plaintiffs. Hill v. White, 321 F.3d
1334, 1335 (11th Cir. 2003); Hoffend v. Villa, 261 F.3d 1148, 1150 (11th Cir. 2001).
“Federal Rule of Civil Procedure 8(a)(2) requires only ‘a short and plain statement of the
claim showing that the pleader[s] are entitled to relief,’ in order to ‘give the defendant[s] fair
notice of what the . . . claim is and the grounds upon which it rests.’ ” Bell Atl. Corp. v.
Twombly, 550 U.S. 544, 555, 127 S. Ct. 1955, 1959 (2007) (quoting Conley v. Gibson, 355
U.S. 41, 47, 78 S.Ct. 99, 103 (1957)). “Of course, ‘a formulaic recitation of the elements
of a cause of action will not do.’” Watts v. Fla. Int’l. Univ., 495 F.3d 1289, 1295 (11th Cir.
2007) (quoting Twombly, 550 U.S. at 555). “While Rule 12(b)(6) does not permit dismissal
12
Legal conclusions, on the other hand, need not be accepted as true. Ashcroft v.
Iqbal, 129 S.Ct. 1937, 1949-50 (2009).
13
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 14 of 31
of a well-pleaded complaint simply because it strikes a savvy judge that actual proof of
those facts is improbable, the factual allegations must be enough to raise a right to relief
above the speculative level.” Watts, 495 F.3d at 1295 (citing Twombly, 550 U.S. at 555)
(internal quotation marks omitted)). In other words, “[t]o survive a motion to dismiss, a
complaint must contain sufficient factual matter, accepted as true, to ‘state a claim to relief
that is plausible on its face.’ ” Ashcroft v. Iqbal, 129 S.Ct. 1937, 1949 (2009) (quoting
Twombly, 550 U.S. at 570). “A claim has facial plausibility when the plaintiff[s] plead[]
factual content that allows the court to draw the reasonable inference that the defendant
is liable for the misconduct alleged.” Id. It follows that “where the well-pleaded facts do
not permit the court to infer more than the mere possibility of misconduct, the complaint
has alleged – but it has not ‘show[n] ’ – ‘that the pleader is entitled to relief.’ ” Id. at 1950
(quoting Fed.R.Civ.P. 8(a)(2)).
IV.
Analysis
A.
Breach of Credit Agreement – Counts I and II of the Aurelius Complaint;
Count II of the Avenue Complaint
1.
Plaintiffs Lack Standing to Assert Claims for Failure to Fund
In support of their request for dismissal, Defendants contend that Plaintiffs lack
standing to pursue claims based on Defendants’ alleged breaches of the Credit
Agreement. I agree. “Standing is a threshold jurisdictional question which must be
addressed prior to and independent of the merits of a party's claims.” Bochese v. Town
of Ponce Inlet, 405 F.3d 964, 974 (11th Cir. 2005) (quoting Dillard v. Baldwin County
Comm'rs, 225 F.3d 1271, 1275 (11th Cir. 2000)). Absent an adequate showing of
standing, “a court is not free to opine in an advisory capacity about the merits of a plaintiff's
14
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 15 of 31
claims.” Id. The burden of establishing standing is on the Plaintiffs. Id. at 976; see also
AT&T Mobility, LLC v. National Ass’n for Stock Car Auto Racing, Inc., 494 F.3d 1357, 1360
(11th Cir. 2007)
Pursuant to Article III of the United States Constitution, Plaintiffs “must establish that
[they] ha[ve] suffered an injury in fact” to have standing to challenge Defendants’ failure
to fund under the Credit Agreement.13 AT&T Mobility, 494 F.3d at 1360 (citing Lujan v.
Defenders of Wildlife, 504 U.S. 555, 560 (1992)). “To establish injury in fact, [Plaintiffs]
must first demonstrate that [Defendants] ha[ve] invaded a legally protected interest derived
by [Plaintiffs] from the [Credit] Agreement between [Plaintiffs] and [Defendants].” Id.
(citation and internal quotation marks omitted). The question of whether, for standing
purposes, Plaintiffs have “a legally enforceable right” with respect to a contractual covenant
is a matter of state law. Id. (citation omitted); see also Mid-Hudson Catskill Rural Migrant
Ministry, Inc. v. Fine Host Corp., 418 F.3d 168, 173 (2d Cir. 2005) (Sotomayor, J.) (citing
various cases applying state law to determine whether parties had standing to sue for
breach of contract). Accordingly, I must look to New York law14 to determine whether
13
I recognize the parties’ position that having “standing” to sue for a breach of a
contractual promise is distinct from the concept of Article III standing. [MTD Hr’g Tr. 3:25 p.m.,
May 7, 2010] (“I have always just thought of this as having been innocently mislabeled. I agree
with [defense counsel] that when they said standing, what they really meant was the term
lenders don’t have any contractual right”). While there is case law supporting this contention,
the Eleventh Circuit treats the question of whether a party has a “legally enforceable right” with
respect to a contractual promise as an Article III issue. AT&T Mobility, LLC v. National Ass’n for
Stock Car Auto Racing, Inc., 494 F.3d 1357, 1360 (11th Cir. 2007); Bochese v. Town of Ponce
Inlet, 405 F.3d 964, 975-980 (11th Cir. 2005). Accordingly, I treat it as such. I emphasize,
however, that this distinction has no bearing on the motions at bar, for Plaintiffs’ contract claims
must fail if they lack standing, regardless of how the standing issue is framed.
14
At oral argument, the parties agreed that the question of whether Plaintiffs have a
legal right to enforce the Revolving Lenders’ promise to fund the loans at issue must be
determined pursuant to New York law. [MTD Hr’g Tr. 3:25 p.m., May 7, 2010]. In determining
15
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 16 of 31
Plaintiffs have standing to assert claims for breach of the Credit Agreement based on
Defendants’ failure to fund the Revolving Loans pursuant to the March and April Notices
of Borrowing. (Cr. Agr. § 10.11) (stating that “rights and obligations of the parties under
this agreement shall be governed by, and construed and interpreted in accordance with the
law of the State of New York”).
Under New York contract law, “[a] promise in a contract creates a duty in the
promisor to any intended beneficiary to perform the promise, and the intended beneficiary
may enforce the duty”; thus, only intended beneficiaries of a promise “ha[ve] the right to
proceed against the promisor” for breach of said promise.15 Restatement (Second) of
Contracts § 304 (1979); Hamilton v. Hertz Corp., 498 N.Y.S. 2d 706, 709 (N.Y. Sup. Ct.
1986) (citing Restatement (Second) of Contracts § 304 (1979)). This well-established rule
applies with equal force to both bipartite and multipartite agreements. See Berry Harvester
v. Walter A. Wood Mowing & Reaping Machine Co., 152 N.Y. 540, 547 (N.Y. 1897)
(holding that a plaintiff may not enforce every promise contained in a multipartite
agreement; rather, the specific promise a plaintiff seeks to enforce must have been
intended for the plaintiff’s benefit). Thus, in the context of a multipartite contract, “the mere
fact that [Plaintiffs] signed the agreement is not controlling; they may have enforceable
and applying the law of New York, I must follow the decisions of the state's highest court, and in
the absence of such decisions on an issue, must adhere to the decisions of the state's
intermediate appellate courts, unless there is some persuasive indication that the state's
highest court would decide the issue otherwise. See Best Van Lines, Inc. v. Walker, 490 F.3d
239, 245 n. 9 (2d Cir. 2007).
15
While the Plaintiffs and Defendants disagree as to whether Plaintiffs were intended
beneficiaries of the Revolving Lenders’ promise to fund, both sides appear to agree that one
must be an intended beneficiary of a promise in order to have a legal right to enforce it. [MTD
Hr’g Tr. 3:35 p.m. - 3:38 p.m.].
16
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 17 of 31
rights under some of its provisions and not have enforceable rights under other provisions.”
Alexander v. United States, 640 F.2d 1250, 1253 (Ct. Cl. 1981) (finding that party to
agreement was not an intended beneficiary of a certain promise and therefore had no legal
right to enforce that promise and noting that Berry Harvester is a “leading case” on the
subject). In such cases, the “critical inquiry is whether the parties to the agreement
intended to give [Plaintiffs] the right to enforce” the promise at issue at issue.16 Hence, in
order to have standing to sue Defendants’ for failure to fund the Revolving Loans, Plaintiffs
must adequately demonstrate that they are “intended beneficiaries” of Defendants’ promise
to fund the Revolving Loans under the Credit Agreement.
The question of whether a party is an intended or incidental beneficiary of a
particular contractual promise can be determined “as a matter of law” based on the parties’
intentions as expressed in the operative agreement. See generally Fourth Ocean Putnam
Corp. v. Interstate Wrecking Co., Inc., 66 N.Y. 2d 38 (N.Y. 1985) (affirming lower court’s
16
Although this argument was not raised in its opposition papers, counsel for the
Aurelius Plaintiffs asserted at oral argument that Section 260 of New York Jurisprudence
(Second) Contracts and Section 297 of the Restatement (Second) of Contracts support the
conclusion that all parties to a multipartite agreement are presumed to have a right to enforce
every promise contained therein unless a party’s right to enforce “is specifically severed.” [MTD
Hr’g Tr. 3:38 p.m.]. Having reviewed these sections, I reject this contention and note that
Plaintiffs appear to have conflated two distinct concepts in advancing this argument: the first is
whether a party has a legal right to enforce a particular promise; the second is whether the right
to enforce a particular promise is held jointly or severally by multiple parties. The issue here is
not whether Plaintiffs and Fontainebleau have a “joint” or a “several” (i.e., separately
enforceable) right to enforce the Revolving Lenders’ promise to fund; rather, the question is
whether Plaintiffs have any right whatsoever to enforce that promise. With respect to this
issue, it is clear that the Berry Harvester test controls – i.e., “[w]hether the right or privilege
conferred by the promise of one party to a tripartite contract belongs to one or both of the other
parties depends upon the intention of the parties; the mere fact that there are three parties to
the contract does not enlarge the effect of any promise, except as it may extend the advantage
to two persons instead of one where that is the intention.” 22 N.Y. Jur. 2d Contracts § 260
(2010) (citing Berry Harvester v. Walter A. Wood Mowing & Reaping Machine Co., 152 N.Y.
540 (N.Y. 1897)).
17
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 18 of 31
determination that, as a matter of law, party was not an intended beneficiary); see also
Berry Harvester, 152 N.Y. at 547 (“whether the right or privilege conferred by the promise
of one party to a tripartite contract belongs to one or both of the other contracting parties
depend upon the intention as gathered from the words used . . .”).17 If the contractual
language is ambiguous, however, courts may consider the contractual language “in light
of the surrounding circumstances” in order to discern the intention of the parties. Berry
Harvester, 152 N.Y. at 547.
Traditionally, New York law held that “the absence of any duty . . . to the beneficiary
[vis-a-vis a particular promise]. . . negate[d] an intention to benefit” the beneficiary. Fourth
Ocean, 66 N.Y. 2d at 44-45. However, as New York’s highest court has noted, that
requirement “has been progressively relaxed.” Id. (citation omitted). Today, the rule is that
a beneficiary can establish that he has standing to enforce a particular promise “only if no
one other than the [beneficiary] can recover if the promisor breaches the [promise] or the
contract language . . . clearly evidence[s] an intent to permit enforcement by the
third-party.” Abu Dhabi Commercial Bank v. Morgan Stanley & Co. Inc., 651 F. Supp. 2d
155, 172 (S.D.N.Y. 2009) (citations and internal quotation marks omitted) (emphasis
added); see also Fourth Ocean, 66 N.Y. 2d at 45 (concluding that a third party to a promise
can enforce the promise if “no one other than the third party can recover if the promisor
17
The fact that some of the cases cited involve third-party beneficiaries that were not
actually “parties” to the written agreements at issue does not render the cases inapposite. As I
have already explained, it is the intent of the parties with respect to the individual promise at
issue that is critical. See Berry Harvester, 152 N.Y. at 547 (“any party . . . may insist upon the
performance of every promise made to him, or for his benefit, by the party or parties who made
it”). For example, in a tripartite contract setting where A makes an enforceable promise to B
that is expressly intended for the benefit of C, C is a “third-party beneficiary” of that promise
notwithstanding the fact that he, she, or it is technically a “party” to the written agreement.
18
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 19 of 31
breaches or that the language of the contract otherwise clearly evidences an intent to
permit enforcement by the third party”) (emphasis added).
Here, there is no ambiguity with respect to the promise at issue, which states that
“each Revolving Lender severally agrees to make Revolving Loans to Borrowers from time
to time during the Revolving Commitment Period.” (Cr. Agr. § 2.1(c)) (emphasis added).
This promise creates a duty on the part of Defendants to make loans to Fontainebleau in
accordance with the Credit Agreement; it does not establish a duty to the Plaintiffs here or
“clearly evidence an intent to permit enforcement by [Plaintiffs].” Fourth Ocean, 66 N.Y.
2d at 45. Additionally, it is not the case that “no one other than [Plaintiffs] can recover if
[Defendants] breache[d],” id., as Fontainebleau would unquestionably be able to recover
if it were able to prove that it suffered damages as a result of Defendants’ material breach
of the Credit Agreement. While I recognize that “the full performance of [Defendants’
purported obligation to fund the Revolving Loans] might ultimately benefit [Plaintiffs],” this,
at best, establishes that Plaintiffs were “incidental beneficiaries” of Defendants’ promise
to Fontainebleau to make Revolving Loans. Fourth Ocean, 66 N.Y. 2d at 45; see also
Salzman v. Holiday Inns, Inc., 48 N.Y.S. 2d 258, 261 (N.Y. App. Div. 4th Dept. 1975)
(finding Holiday Inns, an interim lender, to be an incidental beneficiary of financing
agreement between plaintiff and permanent lender because agreement called for the
permanent lender to pay money to plaintiff, not Holiday Inns, and further noting that “the
typical case of an incidental beneficiary is where A promises B to pay him money for his
expenses [and] Creditors of B (though they may incidentally benefit by the performance
of A's promise) are not generally allowed to sue A”) (citation and internal quotation marks
19
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 20 of 31
omitted).18
Because New York law requires that one be an “intended beneficiary” of a particular
promise in order to have a legal right to enforce that promise, and because Plaintiffs have
failed to adequately demonstrate that they were “intended beneficiaries” of Defendants’
promise to fund the Revolving Loans at issue, Counts I and II of the Aurelius Complaint
and Count II of the Avenue Complaint must be dismissed with prejudice.19
2.
Even if Plaintiffs Had Standing to Enforce Defendants’ Promises to
Fund, Defendants Were Not Obligated to Fund the March Notices
of Borrowing
Even if Plaintiffs had standing to enforce Defendants’ promises to fund the
Revolving Loans at issue, Plaintiffs have not demonstrated that Defendants breached the
Credit Agreement by rejecting the March Notices of Borrowing because: (1) “fully drawn,”
as used in Section 2.1(c)(iii) of the Credit Agreement, unambiguously means “fully funded”;
and (2) the Delay Draw Term Loans had not been “fully drawn” at the time Fontainebleau
submitted the March Notices of Borrowing.
Under New York law, a breach of contract claim “cannot withstand a motion to
18
Plaintiffs cite to Deutsche Bank AG v. J.P. Morgan Chase Bank, 2007 U.S. Dist.
LEXIS 71933 (S.D.N.Y. Sept. 27, 2007), in support of the contention that they have a legally
enforceable right in Defendants’ promise to fund the Revolving Loans. This case fails to
buttress Plaintiffs’ position regarding standing, as it involved claims for declaratory relief, not
breach of contract – claims that have different requirements with respect to standing than the
contract claims at bar. Deutsche Bank, 2007 U.S. Dist. LEXIS 71933, * 5 (noting that parties
were only seeking “declaration[s]”); compare Fieger v. Ferry, 471 F.3d 637, 643 (6th Cir. 2006)
(discussing standing requirements in declaratory relief actions) with Alexander v. United States,
640 F.2d 1250, 1253 (Ct. Cl. 1981) (discussing standing requirements in context of multi-party
contracts). Thus, contrary to Plaintiffs’ contention, the Deutsche Bank court did not sub silentio
conclude that lenders are intended beneficiaries of other lenders’ promises to fund a borrower’s
loans.
19
See Section V, infra (explaining why the dismissal is with prejudice).
20
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 21 of 31
dismiss if the express terms of the contract contradict plaintiff[s’] allegations of breach.”
Merit, No. 08-CV-3496, 2009 WL 3053739, *2 (S.D.N.Y. Sept. 24, 2009) (citing 805 Third
Ave. Co. v. M.W. Realty Assocs., 58 N.Y. 2d 451, 447 (N.Y. 1983)). Thus, courts are not
required to “accept the allegations of the complaint as to how to construe” the agreement
at issue. Merit, 2009 WL 3053739, *2. Instead, courts must enforce written agreements
according to the “plain meaning” of their terms. Greenfield v. Philles Records, 98 N.Y. 2d
562, 569 (N.Y. 2002). When interpreting the meaning of contractual provisions, courts are
generally required to “discern the intent of the parties to the extent their intent is evidenced
by their written agreement.” Int’l Klafter Co. v. Cont. Cas. Co., 869 F.2d 96, 100 (2d Cir.
1989) (citing Slatt v. Slatt, 64 N.Y. 2d 966, 967 (N.Y. 1985)). Thus, “[i]n the absence of
ambiguity, the intent of the parties must be determined from their final writing and no parol
evidence or extrinsic evidence is admissible.” Id. (emphasis added) (citation omitted).
However, “[e]xtrinsic evidence of the parties' intent may be considered . . . if the agreement
is ambiguous, which is an issue of law for the courts to decide.” Greenfield, 98 N.Y. 2d at
569.
Whether an agreement is “ambigu[ous] is determined by looking within the four
corners of the document, not to outside sources.” Kass v. Kass, 91 N.Y. 2d 554, 556 (N.Y.
1998) (citation omitted).20 “Consequently, any conceptions or understandings any of the
20
Plaintiffs urge me to consider the manner in which the word “drawn” is generally used
in New York statutory and case law in order to discern the intended meaning of the phrase “fully
drawn,” citing to Hugo Boss Fashions, Inc. v. Fed Ins. Co., 252 F.2d 608, 617-18 (2d Cir. 2001)
for the proposition that “an established definition provided by state law or industry usage will
serve as a default rule . . . unless the parties explicitly indicate, on the face of their agreement,
that the term is to have some other meaning.” However, as the Second Circuit noted in the
sentence preceding the quote excerpted by Plaintiffs, “widespread custom or usage serves to
determine the meaning of a potentially vague term,” not an unambiguous one. Id. (emphasis
21
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 22 of 31
parties may have had during the duration of the contracts is immaterial and inadmissible.”
Int’l Klafter Co., 869 F.2d at 100. Under New York law, “[t]he test for ambiguity is whether
an objective reading of a term could produce more than one reasonable meaning.”
McNamara v. Tourneau, Inc., 464 F. Supp. 2d 232, 238 (S.D.N.Y. 2006) (citing Collins v.
Harrison-Bode, 303 F.3d 429, 433 (2d Cir. 2002)). Thus, “[a] party . . . may not create
ambiguity in otherwise clear language simply by urging a different interpretation.” Id. (citing
Metro. Life Ins. Co. v. RJR Nabisco, Inc., 906 F.2d 884, 889 (2d Cir. 1990)).
As I noted in my August 26 Order, a review of the Credit Agreement in its entirety
reveals no ambiguity as to the meaning of the term “fully drawn”; to the contrary, an
objective and plain reading of the agreement establishes that “fully drawn” in Section
2.1(c)(iii) means “fully funded,” and not “fully requested” or “fully demanded,” as Plaintiffs
suggest.
In re Fontainebleau Las Vegas Holdings, LLC, 417 B.R. at 660.21
This
added). Because the Credit Agreement unambiguously establishes that “fully drawn” means
“fully funded,” I decline to consider “extrinsic evidence” such as custom, industry usage, or the
parties’ course of dealing. Int’l Klafter Co. v. Cont. Cas. Co., 869 F.2d at 100; see also [DE 50]
(noting in their opposition to Defendants’ Joint Motion to Dismiss that “Term Lenders agree . . .
that the parties’ course of dealing is not an appropriate consideration in determining, on a
motion to dismiss, whether it is reasonable to interpret “drawn” to mean “demanded”).
However, it does bear mentioning that even the cases cited by Plaintiffs indicate that, in the
context of term loans, “draw” means “fund,” as compared to “request” or “demand.” See e.g.,
Destiny USA Holdings, LLC v. Citigroup Global Markets Realty Corp., 2009 WL 2163483, *1,
*14 (N.Y. Sup. Ct. July 17, 2009) (concluding that Destiny Holdings was entitled to preliminary
injunction requiring Citigroup to fund “pending draw requests,” thus indicating that draw means
“fund” or “funding” and not “request” or “demand”), aff’d as modified on other grounds, 889
N.Y.S. 2d 793 (N.Y. App. Div. 4th Dept. 2009).
21
While it could be argued that the doctrine of “nonparty preclusion” should apply to
preclude Plaintiffs from relitigating the meaning of “fully drawn” given that they filed an amicus
brief in the Florida Action regarding the very same issue, this doctrine was not raised by the
Plaintiffs and I decline to apply it sua sponte. See Griswold v. County of Hillsborough, 598 F.3d
1289, 1292 (11th Cir. 2010) (clarifying doctrine of nonparty preclusion in light of recent
Supreme Court decisions on the subject).
22
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 23 of 31
conclusion comports not only with the plain language of the Credit Agreement, but also
with the “structure of the lending facilities, as discerned from the Credit Agreement itself,
[which] reflects the parties’ intent to employ a sequential borrowing and lending process
that places access to Delay Draw Term Loans ahead of Revolving Loans when the amount
sought under the Revolving Loan facility was in excess of $150 million.” Id. at 660.
To support their argument that my prior ruling regarding the unambiguous meaning
of “fully drawn” was erroneous, Plaintiffs proffer various hypotheticals purporting to
demonstrate that interpreting “fully drawn” to mean “fully funded” would lead to patently
unreasonable results that could not have been intended by the parties to the Credit
Agreement. Such arguments are not relevant or proper, for “[a]n ambiguity does not exist
by virtue of the fact that one of a contract's provisions could be ambiguous under some
other circumstances.” Bishop v. National Health Ins. Co., 344 F.3d 305, 308 (2d Cir.
2003). To the contrary, contract law is clear insofar as “a court must look to the situation
before it, and not to other possible or hypothetical scenarios” when considering a contract
in order to determine whether an ambiguity exists. Id.; Donoghue v. IBC USA
(Publications), Inc., 70 F.3d 206, 215-16 (1st Cir. 1995) (noting that “a party claiming to
benefit from ambiguity . . . must show ambiguity in the meaning of the agreement with
respect to the very issue in dispute . . . [because] courts consider contentions regarding
ambiguity or lack of ambiguity not in the abstract and not in relation to hypothetical disputes
that a vivid imagination may conceive but instead in relation to concrete disputes about the
meaning of an agreement as applied to an existing controversy”).22
22
Even if I were to consider Plaintiffs’ hypotheticals, it would not alter my conclusion
regarding the meaning of “fully funded,” as the proffered hypotheticals fail to account for critical
23
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 24 of 31
In sum, having considered the arguments of the parties regarding the meaning of
“fully drawn,” I conclude, for the reasons set forth above, as well as those set forth in my
August 26 Order – which I expressly incorporate by reference into this Order – that the
plain language, purpose, and structure of the Credit Agreement leads to the inexorable
conclusion that “fully drawn” unambiguously means “fully funded” for purposes of Section
2.1(c)(iii) of the Credit Agreement.23 Accordingly, even if my conclusion that Plaintiffs lack
standing is in error, Plaintiffs’ claims for failure to fund the March Notices of Borrowing fail
as a matter of law because Defendants had no obligation to make Revolving and Swing
provisions of the Credit Agreement. For example, the hypothetical set forth in Paragraph 43 of
the Aurelius Complaint ignores the existence of Section 5.2(c), entitled “Drawdown Frequency,”
which vests the Administrative Agent (i.e., Bank of America) with broad discretion to permit
Disbursement Agreement loans to be made more frequently than once every calendar month.
If Bank of America were to arbitrarily withhold its consent in such a scenario, it would be
exposing itself to a potential claim for breach of the implied covenant of good faith and fair
dealing. Dalton v. Educational Testing Service, 87 N.Y. 2d 384, 389 (N.Y. 1995) (noting that
where a “contract contemplates the exercise of discretion, [the implied covenant of good faith]
includes a promise not to act arbitrarily or irrationally in exercising that discretion”).
23
While I recognize that “[i]t is reasonable to assume that the same words used in
different parts of the instrument are used in the same sense,” it is beyond dispute that the very
same terms can have different meanings for purposes of a single agreement where “a different
meaning is indicated” by the agreement itself. Johnson v. Colter, 297 N.Y.S. 345 (N.Y. App.
Div. 4th Dept. 1937) (citation omitted). This is especially true in the context of agreements
spanning hundreds of pages that cover varying topics. For example, the word “draw” might
have a different meaning when used to refer to “drawing” on a letter of credit than when used in
reference to “drawing” on different sources of information, “drawing” on a chalkboard, or having
“drawn” on a revolving credit facility. Thus, I emphasize that I am not concluding that “draw”
must always mean “fund” for purposes of the Credit and Disbursement Agreements. Instead,
my conclusion is limited to the meaning of “fully drawn” for purposes of Section 2.1(c)(iii).
However, I note that a review of other relevant provisions appears to buttress my conclusion
that, in the context of Term Loans and Revolving Loans, “fully drawn” unambiguously means
“fully funded.” For example, Section 5.2(c), entitled “Drawdown Frequency,” provides that
Disbursement Agreement loans “shall be made no more frequently than once every calendar
month.” (emphasis added). Thus, this provision, which regulates the frequency of “drawdowns”
vis-a-vis Revolving and Term Loans, indicates that a “drawdown” is the equivalent of “making”
(i.e., funding) a Revolving or Delay Draw Term Loan, and not a “request” or “demand” for such
a loan.
24
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 25 of 31
Line Loans in excess of $150,000,000 until: (a) the Delay Draw Term Loans were fully
funded; or (b) the provisions of Section 2.1(c)(iii) were validly waived.
B.
Breach of the Disbursement Agreement Against Bank of America – Count
I of the Avenue Complaint and Count III of the Aurelius Complaint
In addition to the Credit Agreement claim discussed above, Plaintiffs have each
asserted a contract claim against Bank of America for breach of the Disbursement
Agreement. In order to state a claim for breach of contract under New York law,24 a
Plaintiff must adequately allege: (1) the existence of a contract, (2) the plaintiff's
performance under the contract, (3) the defendant's breach of that contract, and (4)
resulting damages. JP Morgan Chase v. J.H. Elec. of New York, Inc., 893 N.Y.S. 2d 237,
239 (N.Y. App. Div. 2d Dept. 2010). Here, Defendant Bank of America does not dispute
the existence of a contract, Plaintiffs’ performance, or resulting damages. Instead, Bank
of America argues that Plaintiffs have failed to adequately allege a breach of the
Disbursement Agreement.
In considering Bank of America’s argument, I start with Section 2.5.1 of the
Disbursement Agreement, which requires Bank of America to issue a Stop Funding Notice
“[i]n the event that [] the conditions precedent to an Advance have not been satisfied.” The
conditions precedent to an Advance are set forth in Section 3.3 of the Disbursement
Agreement. One of the conditions set forth in Section 3.3 is that “[n]o Default or Event of
Default shall have occurred and be continuing.” (Disb. Agr. § 3.3.3). The term “Default”
is specifically defined in the Disbursement Agreement as “(i) any of the events specified
24
Like the Credit Agreement, the Disbursement Agreement also contains a New York
choice-of-law clause. (Disb. Agr. § 11.6).
25
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 26 of 31
in Article 7 . . . and (ii) the occurrence of any ‘Default’ under any Facility Agreement.”
(Disb. Agr., Ex. A at 10). “Facility Agreement” is also specifically defined in the Agreement
as “the Bank Credit Agreement, the Second Mortgage Indenture and the Retail Facility
Agreement.” Id. at 12.
In Paragraphs 129-132 of the Avenue Complaint and Paragraphs 103-111 of the
Aurelius Complaint, Plaintiffs allege specific facts supporting the reasonable inference that
Bank of America, as Disbursement Agent, received notice from a lender in Fall 2008 that
Lehman Brothers defaulted under the Retail Facility Agreement and yet failed to issue a
Stop Funding Notice. Defendant Bank of America does not dispute this. Instead, Bank
of America argues that: (1) the claim is insufficient because the Plaintiffs’ “fail[ed] to attach
th[e] purported ‘notice’ or even identify the lender who sent the alleged communications”;
and (2) pursuant to Section 9.3.2 of the Disbursement Agreement, Bank of America was
“entitled to rely on certifications from [Fontainebleau] as to satisfaction of any requirements
and/or conditions imposed by th[e] [Disbursement Agreement].” [DE 35, pp. 10, 13]. I
reject Bank of America’s first argument, for at the Rule 12(b)(6) stage, I must accept all of
Plaintiffs’ factual allegations in the complaints as true – i.e., Plaintiffs need not support their
factual allegations with documentary evidence at this stage of the proceedings. See Hill,
321 F.3d at 1335. Bank of America’s second argument also fails, as there are no
allegations on the face of the operative complaints establishing that Fontainebleau
“certif[ied]” that Lehman Brothers had not defaulted under the Retail Facility Agreement.25
25
At oral argument, I asked whether there is “anything that anyone could point to in the
complaint one way or the other that refers to Fontainebleau affirmatively certifying that there
was no default”; counsel for Bank of America was unable to reference any such allegation.
[MTD Hr’g Tr. 04:19 p.m.].
26
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 27 of 31
While it can certainly be inferred that such representations were made given that
Fontainebleau submitted various Advance Requests subsequent to the Fall of 2008,
inferences of this nature are not appropriately drawn at this stage. To the contrary, it is
well-settled that I must evaluate all reasonable inferences in favor of the Plaintiffs. Wilson
v. Strong, 156 F.3d 1131, 1133 (11th Cir. 1998). Because Plaintiffs’ complaints adequately
allege facts indicating that Bank of America knew of Lehman Brothers’ default under the
Retail Financing Agreement and failed to issue a Stop Funding Notice in violation of the
Disbursement Agreement, Count III of the Aurelius Complaint and Count I of the Avenue
Complaint will not be dismissed.
C.
Breach of the Implied Covenant of Good Faith and Fair Dealing Against
Bank of America – Count III of the Avenue Complaint
Count III of the Avenue Complaint asserts that Bank of America breached the
implied covenant of good faith and fair dealing when it “improperly approved Advance
Requests, issued Advance Confirmation Notices, failed to issue Stop Funding Notices, []
caused the disbursement of funds from the Bank Proceeds Account; and [] fail[ed] to
communicate information to the Term Lenders regarding Events of Default that were
known o[r] should have been known to [Bank of America].” (Avenue Compl. at ¶ 192).
While it is well-settled that breach of the implied covenant of good faith gives rise
to a stand-alone cause of action under New York law, see Granite Partners, L.P. v. Bear,
Stearns & Co., 17 F. Supp. 2d 275, 305 (S.D.N.Y. 1998) (noting that “[b]reach of the [good
faith] covenant gives rise to a cognizable claim”), it is equally settled that “New York law
. . . does not recognize a separate cause of action for breach of the implied covenant of
good faith and fair dealing when a breach of contract claim, based upon the same facts,
27
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 28 of 31
is also pled.” Harris v. Provident Life & Accident Ins. Co., 310 F.3d 73, 81 (2d Cir. 2002).
In their opposition papers, the Avenue Plaintiffs acknowledge this rule, but contend that it
does not apply because its implied covenant claim is predicated, in part, upon the factual
allegation that Bank of America “failed to communicate information regarding defaults,”
while its Disbursement Agreement claim is not. [DE 52]. This argument is not a novel one,
and has been roundly rejected by New York courts. Alter v. Bogoricin, No. 97-CV-0662,
1997 WL 691332, *1, *7-*8 (S.D.N.Y. Nov. 6, 1997) (rejecting similar argument, dismissing
implied covenant claim, and noting that it has been observed that "every court faced with
a complaint brought under New York law and alleging both breach of contract and breach
of a covenant of good faith and fair dealing has dismissed the latter claim as duplicative”).
The critical inquiry in this respect is not whether the two claims are founded upon
identical facts, but whether the relief sought by Plaintiffs “is intrinsically tied to the damages
allegedly resulting from [the] breach of contract.” Id. (quoting Canstar v. J.A. Jones Constr.
Co., 622 N.Y.S. 2d 730, 731 (App. Div. 1st Dept. 1995)); Deer Park Enterprises, LLC v. Ail
Systems, Inc., 870 N.Y.S. 2d 89, 90 (N.Y. App. Div. 2d Dept. 2008). Because the relief
sought by Avenue Plaintiffs in connection with their implied covenant claim against Bank
of America is “intrinsically tied to the damages allegedly resulting from [the] breach of
contract” alleged in Count I, this claim must be dismissed. Deer Park Enterprises, 870
N.Y.S. 2d at 90 (reversing lower court’s denial of motion to dismiss and concluding that “[a]
cause of action to recover damages for breach of the implied covenant of good faith and
fair dealing cannot be maintained where the alleged breach is ‘intrinsically tied to the
damages allegedly resulting from a breach of the contract’ ”) (quoting Canstar, 622 N.Y.S.
28
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 29 of 31
2d at 731).
D.
Breach of the Implied Covenant of Good Faith and Fair Dealing Against
All Defendants – Count IV of the Avenue Complaint
The final claim I must address is the Avenue Plaintiffs’ claim against all Defendants
for breach of the implied covenant of good faith and fair dealing in connection with the
Credit Agreement. In support of this claim, the Avenue Plaintiffs allege that Defendants
“breached the implied covenant [of good faith] by adopting a contrived construction of the
Credit Agreement in order to justify their refusal to fund the March 2 Notice [of Borrowing]
and the March 3 Notice [of Borrowing].” (Avenue Compl. at ¶ 198). Under New York law,
claims for breach of the implied covenant of good faith are unsustainable as a matter of
law if a plaintiff “seek[s] to imply an obligation of the defendants which [is] inconsistent with
the terms of the contract” at issue. Fitzgerald v. Hudson Nat'l Golf Club, 783 N.Y.S. 2d
615, 617-18 (N.Y. App. Div. 2d Dept. 2004) (affirming dismissal of implied covenant claim
where plaintiff sought to imply an obligation inconsistent with the terms of the contract); see
also Dalton v. Educational Testing Service, 87 N.Y. 2d 384, 389 (N.Y. 1995). Because
I have concluded that the purportedly “contrived construction” of “fully drawn” is, in fact, the
correct interpretation, this claim fails as a matter of law, as it seeks to impose an obligation
– i.e., a particular construction of the Credit Agreement’s terms – that is inconsistent with
the terms of the agreement.
V.
Conclusion
Based on the foregoing, I conclude that – with the exception of Count I of the
Avenue Complaint and Count III of the Aurelius Complaint – all claims asserted by the
Plaintiffs warrant dismissal. The dismissal of these claims is with prejudice for two
29
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 30 of 31
reasons. First, the facts, circumstances, and applicable law indicate that any attempt to
amend the dismissed claims would be futile; and second, Plaintiffs have failed to state a
claim despite having previously amended their complaints.26 Novoneuron Inc. v. Addiction
Research Institute, Inc., 326 Fed. Appx. 505, 507 (11th. Cir. 2009) (affirming dismissal with
prejudice where Plaintiff amended as a matter of right and later decided to litigate the
merits of Defendant’s motion to dismiss rather than requesting leave to amend); Butler v.
Prison Health Services, Inc., 294 Fed. Appx. 497, 500 (11th Cir. 2008) (“The district court
. . . need not allow an amendment . . . where amendment would be futile.”) (cites and
quotes omitted).
I note that I would normally be inclined to afford Plaintiffs an opportunity to amend
their complaints to assert claims founded upon contractual promises of which they were
the intended beneficiaries (e.g., promises set forth in the Intercreditor Agreement to which
the parties alluded during oral argument). However, because the parties have indicated
that the promises contained in the Intercreditor Agreement are not germane to this action,
[MTD Hr’g Tr. 3:26 p.m. - 3:28 p.m.], I see no reason to invite further amendments.
Based on the foregoing, it is hereby
ORDERED AND ADJUDGED that:
1.
Defendants’ Motions to Dismiss [DE 35]; [DE 36] are GRANTED IN PART
AND DENIED IN PART.
2.
Counts I and II of the Aurelius Complaint are DISMISSED WITH
PREJUDICE.
26
The Avenue Complaint was amended twice. The Aurelius Complaint was amended
once.
30
Case 1:10-cv-20236-ASG Document 55 Entered on FLSD Docket 06/01/2010 Page 31 of 31
3.
Counts II, III, and IV of the Avenue Complaint are DISMISSED WITH
PREJUDICE.
4.
Count VI of the Avenue Complaint is DISMISSED WITHOUT PREJUDICE
AS MOOT.
5.
Defendant Bank of America shall Answer Paragraphs 1-178 and 201-203 of
the Avenue Complaint no later than Friday June 18, 2010.
6.
Defendant Bank of America shall Answer Paragraphs 1-131 and 146-153 of
the Aurelius Complaint no later than Friday June 18, 2010.
7.
No later than Friday June 18, 2010, the Avenue Plaintiffs shall file a Notice
with this Court stating whether Count V of the Avenue Complaint seeks
declaratory relief pursuant to state or federal law.
8.
The Clerk is directed to send a copy of this Amended Order to the Clerk of
the Judicial Panel on Multidistrict Litigation.
9.
The Final Judgment previously issued in the Aurelius Action, see Case No.:
10-CV-20236, [DE 53] (S.D. Fla. May 28, 2010), is hereby VACATED.
DONE AND ORDERED IN CHAMBERS at Miami, Florida this 28th day of May,
2010.
______________________________
THE HONORABLE ALAN S. GOLD
UNITED STATES DISTRICT JUDGE
cc: Magistrate Judge Bandstra
Counsel of record
31
Case 1:10-cv-20236-ASG Document 60 Entered on FLSD Docket 02/22/2011 Page 1 of 1
ELEVENTH CIRCUIT TRANSCRIPT ORDER FORM
PART I.
TRANSCRIPT ORDER INFORMATION
Appellant to complete and file with the District Court Clerk within x days of the filing of the notice of appeal in all cases, including those in which there
10
was no hearing or for which no transcript is ordered.
14
Short Case Style:
ACP Master, Ltd., et al.
vs Bank of America, N.A., et al.,
District Court No.: 10-CV-20236-Gold
CHOOSE ONE:
✔
Date Notice of Appeal Filed: February 11, 2011 Court of Appeals No.: Not Available
(If Available)
No hearing
No transcript is required for appeal purposes
All necessary transcript(s) on file
I AM ORDERING A TRANSCRIPT OF THE FOLLOWING PROCEEDINGS:
Check appropriate box(es) and provide all information requested:
HEARING DATE(S)
✔
Pre-Trial Proceedings
JUDGE/MAGISTRATE
COURT REPORTER NAME(S)
May 7, 2010 and January 7, 2011 - Judge Gold - Joseph A. Millikan
Trial
Sentence
Other
METHOD OF PAYMENT:
✔
I CERTIFY THAT I HAVE CONTACTED THE COURT REPORTER(S) AND HAVE MADE SATISFACTORY ARRANGEMENTS WITH THE
COURT REPORTER(S) FOR PAYING THE COST OF THE TRANSCRIPT.
CRIMINAL JUSTICE ACT. Attached for submission to District Judge/Magistrate is my completed CJA Form 24 requesting authorization for
government payment of transcript. [A transcript of the following proceedings will be provided ONY IF SPECIFICALLY AUTHORIZED in Item 13 on
CJA Form 24: Voir Dire; Opening and Closing Statements of Prosecution and Defense; Prosecution Rebuttal; Jury Instructions]
Ordering Counsel/Party: Brett Amron/Plaintiffs
Name of Firm: Bast Amron LLP
Street Address/P.O. Box: SunTrust International Center, One Southeast Third Avenue, Suite 1440
City/State/Zip Code: Miami, FL 33133
Phone No.: 305-379-7904
I certify that I have filed the original (Yellow page) with the District Court Clerk, sent the Pink and green pages to the appropriate Court Reporter(s) if
ordering a transcript, and sent a photocopy to the Court of Appeals Clerk and to all parties.
DATE: February 22, 2011
SIGNED: s/Brett
PART II.
Amron
Attorney For: Plaintiffs
COURT REPORTER ACKNOWLEDGMENT
Court Reporter to complete and file Pink page with the District Court Clerk within 10 days of receipt. The Court Reporter shall send a photocopy to the
Court of Appeals Clerk and to all parties, and retain the Green page to provide notification when transcript filed.
Date Transcript Order received:
Satisfactory arrangements for paying the cost of the transcript were completed on:
Satisfactory arrangements for paying the cost of the transcript have not been made.
No. of hearing days:
Estimated no. of transcript pages:
Estimated filing date:
DATE:
SIGNED: s/
Phone No.:
NOTE: The transcript is due to be filed within 30 days of the date satisfactory arrangements for paying the cost of the transcript were completed unless the
Court Reporter obtains an extension of time to file the transcript.
PART III.
NOTIFICATION THAT TRANSCRIPT HAS BEEN FILED IN DISTRICT COURT
Court Reporter to complete and file Green page with the District Court Clerk on date of filing transcript in District Court. The Court Reporter shall send a
photocopy of the completed Green page to the Court of Appeals Clerk on the same date.
This is to certify that the transcript has been completed and filed with the district court on (date):
Actual No. of Volumes and Hearing Dates:
Date:
Signature of Court Reporter: s/
*U.S. GPO: 1998-734-049-80146
Case 1:10-cv-20236-ASG Document 61 Entered on FLSD Docket 02/22/2011 Page 1 of 1
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 1 of 63
1
1
2
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
MIAMI DIVISION
3
Case 09-2106-MDL-GOLD
4
IN RE:
COURTROOM 11-1
FONTAINEBLEAU LAS VEGAS
CONTRACT LITIGATION
MIAMI, FLORIDA
5
6
MAY 7, 2010
7
8
9
10
(Pages 1 - 63)
__________________________________________________________________
TRANSCRIPT OF ORAL ARGUMENT
BEFORE THE HONORABLE ALAN S. GOLD
UNITED STATES DISTRICT JUDGE
__________________________________________________________________
11
12
13
APPEARANCES:
14
FOR THE PLAINTIFFS:
15
Avenue CLO IV, Ltd.
J. MICHAEL HENNIGAN, ESQ.
KIRK D. DILLMAN, ESQ.
Hennigan Bennett & Dorman LLP
865 South Figueroa Street, Suite 2900
Los Angeles, CA 90017
213.694.1200
(Fax) 213.694.1234
hennigan@hbdlawyers.com
dillmank@bhdlawyers.com
ACP Master, Ltd.
Aurelius Capital Master
JAMES B. HEATON, III, PH.D.
STEVE NACHTWEY, ESQ.
VINCENT S. J. BUCCOLA, ESQ.
Bartlit Beck Herman Palenchar & Scott, LLP
54 West Hubbard Street
Chicago, IL 60654
312.494.4425
(Fax) 312.494.4440
jb.heaton@bartlit -beck.com
steven.nachtwey@bartlit -beck.com
16
17
18
19
20
21
22
23
24
25
TOTAL ACCESS
NETWORK COURTROOM REALTIME TRANSCRIPTION
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 2 of 63
2
1
FOR THE DEFENDANTS:
2
3
4
Barclays Bank PLC
Deutsche Bank
JP Morgan Chase
Royal Bank of Scotland
5
6
THOMAS C. RICE, ESQ.
STEVEN S. FITZGERALD, ESQ.
Simpson Thacher & Bartlett, LLP
425 Lexington Avenue
New York, NY 10017
212.445.3040
(Fax) 212.455.2502
trice@stblaw.com
sfitzgerald@stblaw.com
7
8
Bank of America
Merrill Lynch Capital
DANIEL L. CANTOR, ESQ.
O'Melveny & Myers LLP
Times Square Tower, Times Square
New York, NY 10036
212.408.2483
dcantor@omm.com
HSH Nordbank AG
AARON RUBINSTEIN, ESQ.
Kaye Scholer LLP
425 Park Avenue
New York, NY 10022
9
10
11
12
13
212.836.8000
(Fax) 212.836.8689
arubinstein@kayescholer.com
14
15
16
17
Bank of Scotland PLC
ANTHONY L. PACCIONE, ESQ.
Katten Muchin Rosenman LLP
575 Madison Avenue
New York, NY 10022
212.940.8502
(Fax) 212.894.5502
anthony.paccione@kattenlaw.com
Sumitomo Mitsui Banking
ROBERT GERALD FRACASSO, JR., ESQ.
Shutts & Bowen
201 South Biscayne Boulevard, Suite 1500
Miami, FL 33131
305.358.6300
(Fax) 305.381.9982
rfracasso@shutts-law.com
18
19
20
21
22
23
24
25
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 3 of 63
3
1
Camulos Master Fund
SAMUEL M. SHELDON, ESQ.
McDermott Will & Emery LLP
201 South Biscayne Boulevard, Suite 2200
Miami, FL 33131
305.358.3500
(Fax) 305.347.6500
ssheldon@mwe.com
REPORTED BY:
JOSEPH A. MILLIKAN, RPR-CM-NSC-FCRR
Official United States Court Reporter
Federally Certified Realtime Reporter
400 North Miami Avenue, Suite 11-1
Miami, FL 33128
305.523.5588
(Fax) 305.523.5589
jamillikan@aol.com
2
3
4
5
6
7
8
9
10
11
12
13
14
TABLE OF CONTENTS
15
Page
16
Reporter's Certificate ...................................... 57
17
18
19
CITATION
20
Page
21
22
Berry Harvester Co. v. Walter A. Wood Mowing & Reaping
Mach. Co., 46 N.E. 952 (N.Y. 1897) ........................... 9
23
24
25
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 4 of 63
Oral Argument
4
15:05:52
1
15:05:56
2
15:06:02
3
15:06:04
4
15:06:05
5
15:06:07
6
right.
15:06:10
7
speak in the microphone in front of you, please.
15:06:12
8
15:06:14
9
15:06:18
10
THE COURT:
15:06:18
11
MR. HEATON:
15:06:23
12
and Vince Buccola on behalf of the ACP Master and Aurelius
15:06:29
13
Capital Master plaintiffs.
15:06:30
14
THE COURT:
15:06:34
15
MR. RICE:
15:06:36
16
and Steve Fitzgerald from Simpson Thacher & Bartlett.
15:06:40
17
here for Barclays, Deutsche Bank, JP Morgan Chase and Royal Bank
15:06:45
18
of Scotland.
15:06:48
19
America and Merrill Lynch who have their own motion and were
15:06:51
20
going to argue part of the joint motion are not here, and I
15:06:55
21
don't know where they are, Your Honor.
15:06:56
22
15:07:01
23
telling me this is set for 3:15.
15:07:02
24
o'clock.
15:07:06
25
THE COURT:
Good afternoon.
On Case 09-2106, may I
have appearances, first on behalf of the plaintiffs?
Good afternoon, Your Honor.
MR. HENNIGAN:
Michael
Hennigan from --
THE COURT:
You need a microphone, sir.
It's all
Just whatever is comfortable, you can stay seated.
Good afternoon, Your Honor.
MR. HENNIGAN:
Just
Michael
Hennigan and Kirk Dillman on behalf of the Avenue plaintiffs.
Thank you.
Your Honor, James Heaton, Steve Nachtwey
All right.
Yes.
Thank you.
Other appearances?
Good afternoon, Your Honor, Tom Rice
We're
Your Honor, I apologize, but counsel for Bank of
THE COURT:
MR. RICE:
You know, I may be early.
Okay.
My office is
I thought it was three
Our understanding was, mine certainly
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 5 of 63
Oral Argument
5
15:07:09
1
was, 3:15, Your Honor.
15:07:10
2
15:07:14
3
upon you, I'll wait until 3:15 and come back.
15:07:17
4
other appearances by phone, so we'll come back and pick this up
15:07:21
5
in just a few minutes.
15:07:24
6
THE COURT:
Then let me do this.
Thank you.
Rather than impose
I think there are
Stay seated, please.
[There was a short recess taken at 3:07 p.m.]
7
AFTER RECESS
15:17:04
8
[Proceedings in this cause resume at 3:17 p.m.]
15:17:05
9
15:17:07
10
15:17:10
11
with appearances.
15:17:12
12
the microphones, please.
15:17:13
13
15:17:14
14
afternoon.
15:17:17
15
plaintiffs.
15:17:18
16
THE COURT:
15:17:20
17
MR. HEATON:
15:17:23
18
Steven Nachtwey and Vincent Buccola on behalf of the ACP Master
15:17:29
19
and Aurelius Capital plaintiffs.
15:17:30
20
15:17:33
21
15:17:35
22
15:17:37
23
Fitzgerald from Simpson Thacher & Bartlett for Deutsche Bank, JP
15:17:43
24
Morgan, Royal Bank of Scotland and Barclays.
15:17:49
25
THE COURT SECURITY OFFICER:
THE COURT:
All rise.
Be seated, please.
So let me start again
Everybody can stay seated.
MR. HENNIGAN:
Just speak into
Thank you, Your Honor, and good
It's Michael Hennigan on behalf of the Avenue
I'm here with my partner, Kirk Dillman.
THE COURT:
Thank you, sir.
Your Honor, I'm James Heaton.
Thank you.
With me is
Now, let me start with
appearances and work around the table.
MR. RICE:
Thank you, Your Honor.
MR. CANTOR:
Tom Rice and Steve
Good afternoon, Your Honor.
May 7, 2010
Dan Cantor,
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 6 of 63
Oral Argument
6
15:17:50
1
O'Melveny & Myers, on behalf of Bank of America and Merrill
15:17:53
2
Lynch Capital Corp. and I apologize for holding up the Court
15:17:57
3
this afternoon.
15:18:02
4
15:18:03
5
Rubinstein from Kaye Scholer on behalf of defendant HSH
15:18:04
6
Nordbank.
15:18:05
7
15:18:07
8
15:18:09
9
15:18:12
10
microphone since I have others on the telephone who won't be
15:18:12
11
able to hear you.
15:18:13
12
15:18:18
13
15:18:20
14
15:18:23
15
15:18:26
16
15:18:28
17
15:18:33
18
15:18:34
19
everybody.
15:18:38
20
joint motions to dismiss the term lenders' complaints which is at
15:18:44
21
Docket Entry 36.
15:18:51
22
the various points with a counterpoint.
15:18:55
23
me rather than hear everybody's argument and all the responses.
15:19:00
24
15:19:10
25
MR. RUBINSTEIN:
MR. PACCIONE:
Good afternoon, Your Honor.
Aaron
Anthony Paccione, Your Honor, from
Katten Muchin Rosenman for Bank of Scotland.
THE COURT:
Sorry.
MR. PACCIONE:
You'll need to speak in the
Anthony Paccione, Katten Muchin Rosenman
for Bank of Scotland, Your Honor.
MR. FRACASSO:
Robert Fracasso, Shutts & Bowen, for
Sumitomo Mitsui Banking Corporation.
MR. SHELDON:
Good afternoon.
Samuel Sheldon from
McDermott Will and Emory on behalf of the Camulos Master Fund.
THE COURT:
All right.
Thank you and welcome
I'd like to start, please, with the defendants'
And I'd like, if you don't mind, to go through
It would be helpful to
So let's start, please, with the standing issues, and
I've looked at this in terms of the question of which circuit's
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 7 of 63
Oral Argument
7
15:19:24
1
standing requirements apply and does it make a difference here
15:19:27
2
in terms of ultimately getting to New York law.
15:19:36
3
understanding from looking at both the Eleventh Circuit and the
15:19:42
4
Second Circuit, given the nature of this proceeding, that the
15:19:48
5
issue of standing ultimately is a question of state law and New
15:19:54
6
York law would apply to it.
15:19:56
7
15:20:01
8
there because I imagine it's a procedural versus substantive
15:20:04
9
issue.
15:20:15
10
and the like, and it just seems to me that I have to go through
15:20:19
11
the analysis to get to state law issues rather than federal
15:20:27
12
common law issues on that question.
15:20:30
13
15:20:33
14
Myers.
15:20:35
15
you need to go through the analysis of which circuit because
15:20:38
16
standing may be a bit of a misnomer here.
15:20:42
17
issue of who has a right under the contract to assert a breach
15:20:45
18
of contract clause.
15:20:50
19
provision that provides for New York law without choice of law
15:20:53
20
rules --
15:20:54
21
15:20:58
22
standing, there are different types of standing.
15:21:02
23
argument about Article 3 standing, about whether there's an
15:21:07
24
injury in fact as a result of a legally protected interest under
15:21:14
25
the contract at issue, is that the kind of standing you're
And my
Does anybody disagree with the analysis of how we get
I know you have choice of law in your credit agreements
MR. CANTOR:
Your Honor, Dan Cantor from O'Melveny &
We do arrive at the same place.
THE COURT:
I'm not sure whether
It's really more an
And since the contract has a choice of law
But I wanted to ask you about when you use
May 7, 2010
I think your
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 8 of 63
Oral Argument
8
15:21:17
1
talking about?
15:21:18
2
15:21:21
3
standing in arguably a more colloquial sense of do you have a
15:21:26
4
right of action here under the contract, not an Article 3 is
15:21:31
5
there an injury, is there a case of controversy but, rather,
15:21:38
6
does the contract give you rights to enforce an alleged breach
15:21:43
7
by one of the other contracting parties, a contract to which you
15:21:49
8
are admittedly a party.
15:21:53
9
place but in my mind, Your Honor, it doesn't have a
15:21:57
10
constitutional Article 3 dimension; it's a pure contract issue
15:22:01
11
and it's standing in a legal sense as opposed to a
15:22:05
12
constitutional sense, an Article 3 sense.
15:22:07
13
15:22:11
14
the term lenders have rights sufficiently under the contracts at
15:22:19
15
issue to raise the claims that they're talking about.
15:22:24
16
broadly call it standing.
15:22:29
17
kind of analysis or something else.
15:22:35
18
from your side of the table, you're requesting I approach the
15:22:41
19
analysis.
15:22:41
20
15:22:43
21
contract law, Your Honor, not as an issue of Article 3 standing.
15:22:48
22
This is a multiparty contract with a great many multilateral,
15:22:55
23
bilateral promises, and the issue is whether the promise that
15:23:00
24
the term lenders have chosen to sue on in this case is one that
15:23:04
25
they have a contractual right to enforce.
MR. CANTOR:
THE COURT:
MR. CANTOR:
No, Your Honor.
I think it really is
And so as I said, we end up in the same
Well, it comes to the question of whether
You
I don't know if this is an Article 3
That's why I'm asking how,
I would approach it as an issue of state
May 7, 2010
So, you know, I don't
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 9 of 63
Oral Argument
9
15:23:12
1
see this as an Article 3 issue; I see it as a pure state law
15:23:16
2
contract issue.
15:23:16
3
15:23:20
4
F.3d 964 which suggests otherwise, but tell me:
15:23:29
5
else on that side of the table want to get into this issue and
15:23:34
6
give me something other than opinion but based upon citation?
15:23:41
7
15:23:45
8
How would you characterize the standing issue?
15:23:48
9
ultimately comes down to state law but it just seems to me that
15:23:52
10
15:23:55
11
15:23:58
12
actually just thought of this as having been essentially
15:24:03
13
innocently mislabeled.
15:24:08
14
when they said "standing," what they really meant was the term
15:24:11
15
lenders don't have any contractual right.
15:24:16
16
particular contractual right that they're asserting in this
15:24:20
17
complaint and that that would make it purely a matter of really
15:24:23
18
interpreting the contract.
15:24:25
19
15:24:30
20
you know, their cite to Berry Harvester and the way that we've
15:24:34
21
briefed that.
15:24:39
22
analysis, because we're parties to the contract and because we
15:24:42
23
actually have an injury, we would get over that hurdle almost
15:24:46
24
too easily for that to have been what I think they meant.
15:24:53
25
certainly comfortable, you know, proceeding either way, but I've
THE COURT:
All right.
Okay.
There is citation to a case at 405
Does anybody
What about from the plaintiffs' side here?
I know it
I ought not skip steps as to how I get there.
MR. HEATON:
I understand, Your Honor.
I have always
I think I agree with Mr. Cantor that
They don't have the
That's also consistent with some of the, well, I think,
I think also, just from a typical standing
May 7, 2010
We're
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 10 of 63
Oral Argument
10
15:24:56
1
always understood it as really being about the existence of a
15:24:59
2
right to enforce under the contract.
15:25:04
3
15:25:07
4
question is determined under New York law in any event; is that
15:25:08
5
correct?
15:25:16
6
MR. HEATON:
15:25:17
7
THE COURT:
15:25:21
8
there, as part of the overall deal on this project, an
15:25:31
9
interlender agreement or agreements independent of the credit
15:25:37
10
and disbursement agreements?
15:25:41
11
back and look?
15:25:43
12
15:25:44
13
question with a question, Your Honor, there is a document that
15:25:47
14
I'm aware of that is called an intercreditor agreement, I
15:25:52
15
believe, is what it is called.
15:25:55
16
today, I don't remember precisely what it covers.
15:25:58
17
15:26:00
18
I did not go back and look at it.
15:26:03
19
agreement that covers not just the rights vis-à-vis the lenders
15:26:11
20
to this credit agreement but also as Your Honor knows, there are
15:26:12
21
retail lenders under other credit agreements, but I don't
15:26:14
22
believe that there is -- there also is obviously security
15:26:15
23
agreements, you know, et cetera, but I don't think it's --
15:26:22
24
15:26:26
25
THE COURT:
MR. CANTOR:
MR. RICE:
Okay.
So no one disputes that that
Yes, Your Honor.
Okay.
So let me ask a question here:
Does anybody know?
Did anybody go
I guess my question, not to answer your
I apologize.
Your Honor, if I may.
THE COURT:
Was
Okay.
As I sit here
Again, I will confess
I think though that may be an
I'm talking about matters from
another life that I participated in.
May 7, 2010
In a deal of this
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 11 of 63
Oral Argument
11
15:26:30
1
complexity, in addition to documents like the credit agreement
15:26:33
2
and disbursement agreement, in the course of the relationships
15:26:40
3
between and among the creditors, all the lenders here, was there
15:26:46
4
an interlender or intercreditor agreement that spelled out
15:26:54
5
obligations, promises, duties and the like?
15:26:57
6
MR. CANTOR:
Not that I'm aware of, Your Honor.
15:27:01
7
MR. HEATON:
Your Honor, I agree with Mr. Rice.
15:27:03
8
think there is an interlender agreement among all of the
15:27:08
9
lenders, not just among the lenders here.
15:27:11
10
15:27:13
11
15:27:17
12
a serious look at whatever you're referring to, since I don't
15:27:21
13
have it, to see if it in any way pertains to the kinds of
15:27:30
14
responsibilities and obligations that are being argued in this
15:27:34
15
case.
15:27:34
16
15:27:36
17
will say that the disbursement agreement is so specific and is
15:27:42
18
so extensive in terms of the laying out of the obligations of
15:27:47
19
the various parties to the credit agreement that it would
15:27:51
20
surprise me if there was another agreement that spoke to that
15:27:54
21
issue any further because I'm not sure what's left to say once
15:27:59
22
you get beyond the provisions of the disbursement agreement.
15:28:02
23
But I cannot represent to you, Your Honor, that I've gone back
15:28:05
24
and looked for that.
15:28:06
25
THE COURT:
I
It addresses things
really not at issue here.
THE COURT:
MR. CANTOR:
Well, I'm asking whether anybody has taken
I have not looked for it, Your Honor.
Okay.
But I thought if there was some
May 7, 2010
I
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 12 of 63
Oral Argument
12
15:28:09
1
agreement like that, certainly the plaintiffs would have brought
15:28:12
2
it to my attention as something important to look at in addition
15:28:18
3
to the two agreements that are at issue here.
15:28:22
4
a fair statement if it exists at all?
15:28:25
5
15:28:27
6
there were any agreement that was more specific on this question
15:28:32
7
than what we believe supportable from the case law and the
15:28:37
8
contract, we would have brought it to your attention.
15:28:38
9
15:28:42
10
will continue to assume that there is no other agreement between
15:28:47
11
and among the creditors/lenders that pertain to any of the
15:28:54
12
issues.
15:29:00
13
down to whether the plaintiffs are intended or incidental
15:29:08
14
beneficiaries of the various obligations and promises.
15:29:13
15
this is your first point on that side of the room, why don't you
15:29:17
16
go ahead and address your arguments on it.
15:29:20
17
15:29:22
18
our argument here is that the term lenders cannot sue the
15:29:27
19
revolvers for breach of contract damages in connection with the
15:29:31
20
revolvers' refusal to fund in response to Fontainebleau's
15:29:37
21
notices of borrowing in March 2009 because the revolvers'
15:29:41
22
lending commitment was a promise to Fontainebleau only.
15:29:44
23
It was not a promise to the term lenders, and the term
15:29:47
24
lenders provided no consideration for the revolvers' commitment
15:29:50
25
to lend funds to Fontainebleau.
MR. HEATON:
THE COURT:
Wouldn't that be
Your Honor, it's a fair statement that if
Okay.
So for purposes of our discussion, I
So essentially under New York law, the question comes
MR. CANTOR:
Sure, Your Honor.
So since
As you've alluded to,
The term lenders do not dispute
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 13 of 63
Oral Argument
13
15:29:55
1
that they provided no consideration to the revolvers, and the
15:29:59
2
term lenders don't identify any credit agreement provision
15:30:02
3
giving them the right to enforce the revolvers' lending
15:30:07
4
commitment and, in fact, there is no such provision that either
15:30:09
5
expressly or impliedly would permit the term lenders to sue the
15:30:13
6
revolvers.
15:30:15
7
15:30:19
8
Section 2 of the credit agreement which is titled "Amount and
15:30:28
9
Terms of Commitments," § 2.1 expressly states that each lender
15:30:30
10
has a several, i.e., separate, obligation to make loans to
15:30:36
11
Fontainebleau.
15:30:40
12
provides separate considerations in the form of promises to
15:30:43
13
repay the loans and commitment fees to each of the lenders.
15:30:48
14
15:30:52
15
opposition papers that there are no bilateral promises here is
15:30:57
16
demonstrably false.
15:31:01
17
promises here.
15:31:05
18
are lenders.
15:31:08
19
terms, but each one of them is a separate loan.
15:31:11
20
lending promise and a separate promise to repay.
15:31:15
21
So plaintiffs' argument that they can enforce mutual
15:31:18
22
obligations is meaningless because they're unable to identify
15:31:23
23
any mutual obligations, and it's been the law in New York for
15:31:27
24
over 110 years now that merely because you are a party to a
15:31:32
25
multiparty contract, that does not mean that you have the right
In fact, to the contrary, if you take a look at
And in §§ 2.7.A and 2.8.A, Fontainebleau
So the term lenders' assertion which they made in their
In fact, there are dozens of bilateral
There are as many bilateral promises as there
They may all have identical or near identical
May 7, 2010
It's a separate
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 14 of 63
Oral Argument
14
15:31:36
1
to enforce all of that contract's promises.
And none of the
15:31:40
2
cases that plaintiffs have cited in their opposition brief,
15:31:43
3
which I'm happy to get into if Your Honor would like, requires
15:31:46
4
any different result.
15:31:48
5
15:31:52
6
not dispute that there's no provision that entitles them to
15:31:57
7
enforce the revolvers' commitment and that they provided any
15:32:00
8
consideration for it, under the controlling law in Berry
15:32:03
9
Harvester they do not have any basis to maintain a breach of
15:32:08
10
contract claim against the revolvers for the revolvers' funding
15:32:12
11
commitments.
15:32:14
12
THE COURT:
15:32:16
13
MR. RICE:
15:32:19
14
Rice.
15:32:25
15
they relied on, you know, the revolving commitment of the
15:32:29
16
revolving lenders, and I just would ask Your Honor to take a
15:32:33
17
look at, you know, both the provisions of § 2.1 which talk about
15:32:37
18
what they did rely on in making term loans and delay draw term
15:32:42
19
loans and contrast that with §§ 2.5 and 3.1 of the credit
15:32:47
20
agreement which are provisions where in other contexts the
15:32:53
21
parties to this contract show that they know exactly how to make
15:32:57
22
clear when they're relying on the commitment of other lenders.
15:33:01
23
Those two provisions relate to the letter of credit
15:33:03
24
commitment and the swing line loan commitment where one bank
15:33:06
25
goes out-of-pocket and relies on other banks to basically
So at the end of the day because the term lenders do
Anyone else want to add to that argument?
Your Honor, if I may just very briefly.
Tom
You know, the plaintiffs argue nonetheless that somehow
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 15 of 63
Oral Argument
15
15:33:10
1
reimburse it when they go out-of-pocket.
15:33:12
2
contexts, the parties make absolutely clear that one bank's
15:33:16
3
commitment is in reliance on another.
15:33:24
4
from any of the provisions relating to initial term loans or
15:33:27
5
delay draw terms loans.
15:33:29
6
15:33:30
7
one final point.
15:33:33
8
papers that somehow the credit agreement reflects an agreement
15:33:36
9
among the lenders to share the risks of the lending transaction
15:33:41
10
in a ratable fashion.
15:33:46
11
you recognized last summer in dealing with the Fontainebleau
15:33:49
12
motion, which is the sequential structure of this credit
15:33:52
13
facility, whereby you weren't going to be able to get to the
15:33:56
14
entire revolver until after the term and delay draw loans had
15:34:00
15
been exhausted.
15:34:03
16
going to bear the risk that for some reason or another the
15:34:07
17
revolvers weren't going to end up funding their loans.
15:34:11
18
got no basis for a breach of contract claim here, Your Honor.
15:34:14
19
15:34:17
20
sure that I've covered all of your arguments that you've raised
15:34:21
21
on this issue and you didn't have anything else you wanted to
15:34:30
22
bring to my attention that has not been briefed.
15:34:30
23
opportunity.
15:34:31
24
15:34:35
25
MR. CANTOR:
That is glaringly absent
And, Your Honor, if I may, I just to add
There was a suggestion in the term lenders'
I think, Your Honor, that ignores what
That shows that the term lenders were always
THE COURT:
MR. HEATON:
Your Honor.
In each of those
Then let me shift over.
Yeah.
They've
I want to make
Now's your
I do want to emphasize something,
We could've briefed this better and it gets to this
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 16 of 63
Oral Argument
16
15:34:38
1
point that merely because you are a party to a joint contract
15:34:40
2
doesn't mean you can enforce every promise.
15:34:42
3
uncontroversial statement.
15:34:45
4
15:34:49
5
words of severance, then you cannot enforce a right given you
15:34:54
6
under that contract.
15:34:57
7
I'd appreciate the opportunity to do here now, Your Honor, is to
15:35:00
8
point Your Honor to -- defendants cite 22 New York Jurisprudence
15:35:06
9
2d Contracts, Section 260, which says:
15:35:11
10
joinder are not necessary to create a joint obligation or
15:35:15
11
right."
15:35:16
12
15:35:18
13
15:35:20
14
15:35:25
15
point that we don't need -- the contract itself shows a joint
15:35:31
16
obligation.
15:35:36
17
the premise that a joint contract must have express words
15:35:43
18
including people in the set of people who can enforce rights is
15:35:49
19
false; and the defendants' citation to this 22 New York
15:35:56
20
Jurisprudence 2d Contracts, it's also in the Restatement
15:35:59
21
(Second) of Contracts 297.
15:36:00
22
15:36:03
23
that Berry Harvester is a contract that actually does exclude
15:36:07
24
people from enforcing rights, and it's important because the
15:36:11
25
defendants hammer on this idea that the obligation to lend is
That's an
The necessary rest of that is if there are express
THE COURT:
And what I wish we would've done and what
"Words of express
Is this something you briefed or is this
something you just came up with?
MR. HEATON:
It's in the -- what we briefed was the
What I think is not clear in there enough is that
So what happens in Berry Harvester, for example, is
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 17 of 63
Oral Argument
17
15:36:18
1
severed, it's not joint among lenders; but there is no
15:36:25
2
equivalent severing of the right to enforce that obligation, and
15:36:28
3
that is what would have to be in this joint contract under New
15:36:31
4
York law.
15:36:32
5
They focus on from whom the duty is owed.
15:36:36
6
point to anything severing to whom performance is owed, and
15:36:42
7
that's why they haven't shown that this joint contract under New
15:36:49
8
York law doesn't allow the term lenders to enforce.
15:36:54
9
15:36:58
10
if they are separate contracts is commercially absurd.
15:37:05
11
lender would enter into these agreements if theirs was the only
15:37:11
12
enforceable agreement, that all the other term lenders could
15:37:15
13
lend if they wanted to.
15:37:17
14
15:37:19
15
your agreement for you at this late stage?
15:37:25
16
crucial issues -- and I'm not saying that they weren't -- why
15:37:30
17
weren't they in the document or in some other intercredit or
15:37:37
18
interlender agreement spelling it out?
15:37:39
19
15:37:41
20
crystal clear on this point, that words of express joinder
15:37:46
21
aren't necessary in a joint contract.
15:37:48
22
15:37:53
23
enforceable by someone in a joint contract, or if you want a
15:37:57
24
right, a duty, to be severed is you have to expressly sever it.
15:38:02
25
This contract is no doubt written in reliance on that background
They don't
The other point is that to look at these contracts as
THE COURT:
MR. HEATON:
No term
Are you, in effect, asking me to rewrite
If these were
Your Honor, because New York law is
What you have to do if you want a right not to be
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 18 of 63
Oral Argument
18
15:38:09
1
law.
It is a false premise that we don't have a right to
15:38:14
2
enforce unless it is specifically there.
15:38:17
3
around.
15:38:23
4
severed.
15:38:23
5
THE COURT:
15:38:24
6
MR. CANTOR:
15:38:27
7
what words it is that they're looking for beyond a description
15:38:31
8
of the lending obligation that's several and a description of
15:38:35
9
the repayment obligation as being several.
15:38:40
10
15:38:44
11
In Berry Harvester what the Court looked at in deciding that
15:38:48
12
there were separate promises was the fact that one portion of
15:38:50
13
the contract was introduced by the words "It is mutually agreed
15:38:55
14
by and between two of the parties."
15:38:58
15
15:39:00
16
I assume that plaintiffs are not arguing that there is some
15:39:03
17
magic talismanic set of words that need to be uttered here -- it
15:39:08
18
is clear from the face of the contract that there are separate
15:39:12
19
lending agreements that are all bound together in one contract
15:39:16
20
that is designed to be administered jointly but that still
15:39:23
21
reflect separate obligations both on the part of the lenders to
15:39:25
22
lend and on the part of the borrower to repay.
15:39:33
23
15:39:36
24
contract either with respect to their commercially reasonable
15:39:39
25
argument, but presumably what they were expecting when they went
It's the other way
We have a right to enforce unless it is specifically
Response?
Yes, Your Honor.
I think -- I'm not sure
They've mischaracterized the facts in Berry Harvester.
Well, while we don't use the exact identical words -- and
I don't want to venture outside the four corners of the
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 19 of 63
Oral Argument
19
15:39:41
1
into this contract was that they were going to be repaid by the
15:39:44
2
borrower.
15:39:47
3
going to happen vis-à-vis other lenders.
15:39:51
4
been focusing on other lenders but they certainly knew, given
15:39:52
5
the sequential structure of the contract, that there was a risk
15:39:55
6
that for one reason or another that when they funded up front at
15:40:00
7
the closing in the case of the initial term lenders or at some
15:40:03
8
point earlier in the process in the case of the delay draw
15:40:06
9
lenders that the revolving lenders would be relieved of their
15:40:11
10
obligations to fund and would not fund.
15:40:14
11
clearly bore on the face of the contract.
15:40:17
12
THE COURT:
15:40:19
13
MR. HENNIGAN:
15:40:21
14
on behalf of the Avenue plaintiffs.
15:40:26
15
has not been discussed which is the in-balance test that is
15:40:29
16
required before any funding is permitted or required under the
15:40:34
17
agreement.
15:40:35
18
There is required to be a certification that there are
15:40:38
19
sufficient funds left to complete the project at every phase of
15:40:43
20
the project.
15:40:48
21
has sufficient credit accessible to it in order to complete the
15:40:52
22
project and specifically there for the benefit of each lender
15:40:57
23
whose turn it is to lend.
15:41:02
24
think, does knit together all of these obligations, to say that
15:41:06
25
we on our side, the term lenders, were looking to the continued
They probably had no expectations as to what was
They wouldn't have
That's a risk that they
Anything else anybody wants to argue?
If I may, Your Honor.
Michael Hennigan
There is a clause here that
That is there in order to insure that the project
And so that is a clause that, I
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 20 of 63
Oral Argument
20
15:41:11
1
availability of those loans before we were obligated to fund at
15:41:16
2
all.
15:41:17
3
THE COURT:
15:41:18
4
MR. CANTOR:
15:41:21
5
and oranges.
15:41:25
6
right to enforce a promise that was not made to you unless there
15:41:30
7
is something in the contract that makes it clear that you have
15:41:34
8
the right to enforce that promise.
15:41:37
9
15:41:42
10
money to Fontainebleau.
15:41:46
11
contract itself which in any way indicates that if the revolving
15:41:51
12
lenders did not lend to Fontainebleau that the other lenders
15:41:56
13
would have the right to sue Fontainebleau, excuse me, sue the
15:42:01
14
revolvers for damages for their failure to lend money to
15:42:04
15
Fontainebleau.
15:42:10
16
delve into the minutia of this complex contractual funding
15:42:16
17
arrangement in an effort to shore up what should have been a
15:42:19
18
very basic provision in the contract, I think, is exalting form
15:42:27
19
way over substance.
15:42:28
20
15:42:34
21
concern has to do with the issues associated with whether the
15:42:38
22
term lenders state a claim for breach of contract based on the
15:42:44
23
March 2nd and 3rd notices of borrowing and as part of that, we
15:42:49
24
get to the issue of the question of fully drawn and fully funded
15:43:02
25
or the like which I've been through before but as pointed out,
Any response?
Your Honor, that's really comparing apples
The law is clear that you're not going to have the
The promise here was by the revolving lenders to lend
There is nothing on the face of the
That's been the law for over 110 years and to
THE COURT:
All right.
Moving on, the next area of
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 21 of 63
Oral Argument
21
15:43:09
1
there are matters that needed to be brought to my attention by
15:43:13
2
the term lenders that they did not sufficiently have the
15:43:17
3
opportunity as amicus to address.
15:43:20
4
15:43:23
5
those points of your brief if there's something in addition that
15:43:26
6
you want to bring to my attention based upon all the
15:43:30
7
submissions.
15:43:30
8
15:43:33
9
15:43:36
10
this ground with the term lenders, certainly Mr. Hennigan's
15:43:40
11
clients in the room before.
15:43:43
12
crystal clear, Number 1, that Your Honor has already ruled on
15:43:45
13
this in the Fontainebleau case and even though they try to
15:43:49
14
characterize what they're doing as new, an awful lot of it is
15:43:54
15
rehashing.
15:43:55
16
15:43:58
17
denying Fontainebleau's motion for summary judgment and for its
15:44:03
18
application for an interlocutory appeal, the Court has made
15:44:06
19
clear that it's not looking at the general meaning of the term
15:44:10
20
"drawn" or "fully drawn."
15:44:14
21
of that term within the four corners of this contract and, most
15:44:18
22
importantly, you know, looking at § 2.B.3, the Court properly
15:44:22
23
found that that could only mean "fully funded."
15:44:26
24
15:44:29
25
So let me turn it back to whoever is going to argue
MR. RICE:
Your Honor, this is Tom Rice.
just to be brief -- and I won't reargue this.
I would guess
We've been over
But, you know, it's absolutely
I think Your Honor has already found twice, both on
The Court was looking at the meaning
So all of the references to dictionary definitions or
how it's used in cases, even though we don't think that supports
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 22 of 63
Oral Argument
22
15:44:32
1
their claim, that's not new.
I think Your Honor has already
15:44:35
2
rejected that.
15:44:36
3
15:44:44
4
contract where words like "draw" are used, Your Honor has dealt
15:44:47
5
with that already and has disposed of those arguments and I
15:44:49
6
won't go through those.
15:44:51
7
15:44:56
8
address, you know, any questions Your Honor would have about
15:44:58
9
them, but I think we have really, you know, addressed each of
15:45:02
10
those.
15:45:06
11
on an interpretation of the contract is this idea that, you
15:45:09
12
know, in § 2.B.3 rather than saying "delay draw term loans" it
15:45:15
13
says "delay draw term loan," so therefore this clause doesn't
15:45:18
14
mean what Your Honor found it to mean because it's only talking
15:45:22
15
about the loan of each individual lender that they severally
15:45:28
16
make, is frankly, Your Honor, specious.
15:45:32
17
15:45:37
18
know, it clearly says that plural means singular, singular means
15:45:41
19
plural.
15:45:46
20
talking about the proceeds to be received from the delay draw
15:45:49
21
term loans that are made in response to any particular notice of
15:45:53
22
borrowing.
15:45:56
23
15:46:00
24
the language of 2.B.3 that says those proceeds will be applied
15:46:07
25
first to repay in full the then outstanding revolving term
Similarly, the references to other places in the
I guess there are three new arguments, and I'm happy to
I think the main one or the only one that's really based
Number 1, the agreement itself in § 1.2.B says, you
And reading this in context, it's clear § 2.B.3 is
That's clearly what it means.
Even more importantly, their argument doesn't deal with
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 23 of 63
Oral Argument
23
15:46:11
1
loans, and that just can't happen if, as Your Honor has already
15:46:15
2
found, if "fully drawn" meant "fully requested" as opposed to
15:46:20
3
"fully funded."
15:46:21
4
15:46:25
5
stop.
15:46:27
6
in our reply papers, are similarly, I think, just totally devoid
15:46:30
7
of any merit and indeed the other ones go beyond the four
15:46:33
8
corners of the contract as well, but I'm obviously happy to
15:46:36
9
answer any questions.
15:46:38
10
15:46:40
11
that hasn't been already developed in the papers or you want to
15:46:46
12
emphasize?
15:46:47
13
15:46:49
14
would like to take on the charge that our use of "delay draw
15:46:53
15
term loan" is specious.
15:47:01
16
that revolvers suggested and that the Court adopted in the
15:47:03
17
August 2009 opinion just does not work because 2.1.B.3 uses the
15:47:11
18
term "delay draw term loan."
15:47:15
19
15:47:17
20
do this because this was an argument that was fleshed out on the
15:47:21
21
reply, just go to the definition of "delay draw commitment" in
15:47:27
22
the credit agreement.
15:47:31
23
delay draw lender the obligation of such lender, if any, to make
15:47:37
24
delay draw term loan.
15:47:39
25
Your Honor, I know you don't need to hear this.
I'll
The other arguments, I think, you know, as we've laid out
THE COURT:
MR. HEATON:
All right.
Anything that you want to cover
I won't emphasize anything.
Your Honor, I
That argument, the line of reasoning
You can go, for example, we didn't have the chance to
"Delay draw commitment" means as to any
Go to "delay draw lender," same page, Page 12 of the
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 24 of 63
Oral Argument
24
15:47:44
1
credit agreement, "A delay draw lender means each lender that
15:47:45
2
has a delay draw commitment or is the holder of a delay draw
15:47:50
3
term loan."
15:47:50
4
If the parties had meant that the amount of the entire
15:47:57
5
borrowing had to be bigger than the outstanding revolving loan,
15:48:01
6
they would have used the term they used in 2.1.B.1 which is each
15:48:06
7
borrowing under the delay draw commitment.
15:48:09
8
15:48:18
9
15:48:23
10
what we point out in our briefs, a reasonable person can hold
15:48:27
11
the view that "drawn" means "demanded" there and that's all we
15:48:33
12
have to show.
15:48:34
13
15:48:36
14
draw term loan" meant what was funded by a single delay draw
15:48:44
15
term lender, then this 2.B.3 doesn't make any sense at all
15:48:49
16
because there's no way that those monies could ever be applied
15:48:52
17
to repay in full on these outstanding revolving loans.
15:48:57
18
the agreement, including 1.2, I said "B" before; it's 1.2.D
15:49:02
19
which says "The meanings given to terms defined herein shall be
15:49:06
20
equally applicable to both the singular and plural forms of such
15:49:09
21
terms," gives the Court the ability, indeed I think it is the
15:49:12
22
inescapable ability, to interpret this in the manner that we've
15:49:18
23
suggested and in the manner that Your Honor has previously
15:49:21
24
found.
15:49:24
25
So it may be that "drawn" should mean "funded," but
that reasoning doesn't work.
MR. RICE:
And in light of all the rest of
Your Honor, just very briefly.
THE COURT:
All right.
If "delay
Clearly
Is there anything else that you
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 25 of 63
Oral Argument
25
15:49:26
1
want to bring to my attention that came up in the reply that you
15:49:31
2
haven't had a chance to address?
15:49:34
3
15:49:38
4
point.
15:49:42
5
It says each loan that comes in has to be set out over here
15:49:47
6
until that thing is repaid in full, and then the extra monies
15:49:52
7
go elsewhere into the bank proceeds account.
15:49:55
8
15:50:01
9
ambiguity, but it can never be such a strong ambiguity that it
15:50:06
10
can overcome what is obviously the meaning of "delay draw term
15:50:11
11
loan" which is the loan that each delay draw lender makes.
15:50:15
12
15:50:17
13
say that Mr. Heaton has not addressed § 1.2.D which gives Your
15:50:21
14
Honor actually the ability and, I think, obligates us to
15:50:22
15
interpret this in the way that makes sense within the context of
15:50:26
16
the agreement.
15:50:28
17
15:50:32
18
opportunity through the briefing to point out their various
15:50:35
19
positions, particularly as it relates to what I have said in a
15:50:40
20
prior order, so let's go to the remainder of the points if you
15:50:45
21
feel that oral argument is necessary on any of those remaining
15:50:52
22
issues on your motion.
15:50:53
23
15:50:57
24
15:50:58
25
Just to respond to the repay in full
MR. HEATON:
Your Honor, it's very simply a flow of funds mechanism.
At worst for the term lenders "in full" creates an
MR. RICE:
I'm not going to respond further except to
THE COURT:
MR. RICE:
All right.
I think everybody has had the
Your Honor, it's me, Tom Rice, again.
me just make one other point if I can on the argument.
THE COURT:
Go ahead.
May 7, 2010
Let
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 26 of 63
Oral Argument
26
15:50:59
1
15:50:59
2
made a number of arguments, but I think the only other one that
15:51:03
3
I wanted to focus on was our argument that by the time the
15:51:10
4
second notice of borrowing came in April, the April 21st notice
15:51:13
5
of borrowing for which we were sued for allegedly breaching
15:51:17
6
that, that that claim relating to that breach, you know, fails
15:51:23
7
as a matter of law because it is conceded, indeed it's
15:51:29
8
affirmatively alleged, that the day before that the revolving
15:51:31
9
lenders had issued notice of termination of their commitments.
15:51:36
10
15:51:41
11
otherwise, that had there been an event of default by
15:51:45
12
Fontainebleau on April 20th, that notice of termination could be
15:51:53
13
issued and, indeed, there are affirmative allegations by the
15:51:59
14
plaintiffs which show why -- withdrawn.
15:52:03
15
15:52:06
16
of default and indeed through their own pleadings we know why,
15:52:11
17
because they affirmatively allege elsewhere the existence of the
15:52:14
18
events of default.
15:52:19
19
April 21 notice of borrowing was that the termination of the
15:52:20
20
commitments on April 20 was no good because the reasons for that
15:52:24
21
termination were not given.
15:52:26
22
And, Your Honor, what we've laid out in our papers that
15:52:30
23
certainly they've asserted -- they have pointed to the Court for
15:52:33
24
no authority for that proposition, and I don't know that there
15:52:38
25
is any in the case law or, more importantly, within the contract
MR. RICE:
I mean, there really are -- you know, we
It's conceded as well, both in the papers and
The plaintiffs have not alleged the absence of an event
So their entire argument with regard to the
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 27 of 63
Oral Argument
27
15:52:41
1
itself.
15:52:44
2
15:52:48
3
Section 8, it talks about providing a notice or by notice
15:52:55
4
terminating.
15:52:59
5
should be, is a notice that the commitment is terminated.
15:53:02
6
There's nothing in there to suggest that they're supposed to be
15:53:05
7
given notice of the default which gives rise to the termination;
15:53:09
8
and we pointed to, in a footnote, I'm sorry to say, in our
15:53:13
9
papers, to § 8.D.2 which shows, you know, again, how the parties
15:53:19
10
when they mean to require notice of a default, as opposed to
15:53:24
11
notice of a termination, of how that's done.
15:53:27
12
15:53:30
13
several other provisions in the contract that make clear when
15:53:33
14
the parties are looking for specificity in terms of what the
15:53:36
15
notice will give, they know exactly how to do that.
15:53:41
16
refer the Court to § 6.7 in which when the borrower has an
15:53:45
17
obligation to give a notice of its defaults when they occur.
15:53:50
18
makes clear that they shall "set forth details of the occurrence
15:53:53
19
referred to therein and stating what action the company is
15:53:56
20
proposed to take thereto."
15:53:58
21
15:54:01
22
detail in terms of the notice, they say so, and I'll just give
15:54:05
23
you cites without burdening you with the argument about them,
15:54:08
24
but similar specificity is required in § 5.1 relating to
15:54:14
25
conditions for the closing date, § 2.17 relating to notice of
I think looking at the relevant provisions of
It's clear they're talking about what the notice
And then, Your Honor, if I could just briefly refer to
Briefly, I
It
So when the parties are looking for in the agreement
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 28 of 63
Oral Argument
28
15:54:20
1
increased borrowing costs as a result of changes in law, § 6.8
15:54:25
2
relating to environmental law issues and, maybe most obviously,
15:54:31
3
in §§ 2.4 and 2.6 in notices of borrowing where there's
15:54:36
4
specificity as to when details of the notice of borrowing need
15:54:40
5
to be given.
15:54:41
6
15:54:45
7
I'm not trying to go outside the scope of the pleadings, but
15:54:48
8
there is reference to the Aurelius complaint at Paragraph 68,
15:54:53
9
and that is when the March 2nd third notice of borrowing came
15:55:08
10
forward.
15:55:19
11
refused to fund, essentially for the reasons that were
15:55:27
12
incorporated in the responses; and it wasn't until it was
15:55:32
13
severed out, that is, the draw term request was made
15:55:36
14
independent, that there was funding by the draw term lenders.
15:55:39
15
15:55:44
16
sure that I understood that this is sufficiently from the
15:55:49
17
pleadings itself.
15:55:56
18
revolvers and the draw term lenders that met on this and made
15:56:03
19
their decision, forwarded on to Bank of America and then Bank of
15:56:10
20
America said, "Well, whoever disagrees with this can act
15:56:15
21
independently."
15:56:21
22
15:56:23
23
complaints fairly allege that on March 2 there was a borrowing,
15:56:29
24
a notice of borrowing for $670 million.
15:56:33
25
$656 million on March 3.
THE COURT:
Let me go back to one point because, again,
My understanding is that most of the delay draw lenders
Now, I wanted to go over the procedure on that and make
But there was a committee made up of the
Is that a fair analysis of what --
MR. RICE:
Yes, I believe it is, Your Honor.
May 7, 2010
The
It was corrected to
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 29 of 63
Oral Argument
29
15:56:39
1
On March 4th, there is reference in the complaint, and
15:56:44
2
therefore we attached it to our motion papers, so I don't think
15:56:49
3
it's outside the record -- it's Exhibit E to my affidavit with
15:56:54
4
our motions -- there is a communication from Bank of America's
15:56:59
5
agent to lenders and professionals who get these things which
15:57:03
6
says, "We're posting this renewed loan notice and we're advising
15:57:12
7
you that we formed an ad hoc committee of lenders."
15:57:17
8
THE COURT:
15:57:19
9
MR. RICE:
15:57:23
10
of lenders which included revolving lenders and some term loan
15:57:28
11
lenders as well.
15:57:30
12
15:57:32
13
15:57:33
14
15:57:35
15
some of the plaintiffs were.
15:57:40
16
This is not in the record, I don't believe, Your Honor, you
15:57:42
17
know, on the motion; but I do believe that at least one or a
15:57:48
18
term loan only member was Highland, which I believe some of the
15:57:54
19
plaintiffs who are on the other side of the table have acquired
15:57:57
20
their interest.
15:57:58
21
15:58:02
22
the interpretation of fully drawn that we've argued and Your
15:58:05
23
Honor has found, and then it goes on to state importantly -- and
15:58:09
24
I believe it is both alleged and it is also here in the
15:58:13
25
exhibit -- that "lenders which disagree with the steering
This is the steering committee of lenders.
It was called an ad hoc steering committee
THE COURT:
Were these plaintiffs members of that
committee?
MR. RICE:
I believe, Your Honor, that predecessors of
Highland, for example, is one.
But that ad hoc committee said it unanimously supported
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 30 of 63
Oral Argument
30
15:58:16
1
committee's position are asked to immediately contact Bank of
15:58:19
2
America as administrative agent to make operational arrangements
15:58:22
3
for funding their portion of the requested borrowing."
15:58:28
4
15:58:30
5
America was saying if there were any draw term lenders that
15:58:35
6
disagreed with the ad hoc steering committee's position, they
15:58:39
7
can act independently.
15:58:41
8
15:58:43
9
15:58:46
10
until there was yet a third borrowing notice which removed the
15:58:51
11
request for the revolver.
15:58:53
12
15:58:56
13
what's on the face of the complaint and what's fairly part of
15:59:04
14
these proceedings.
15:59:07
15
what's commercially fair and all, but didn't your predecessors
15:59:13
16
agree with Bank of America that that was the proper position
15:59:17
17
because they didn't come back after the fact and say, "You know
15:59:21
18
what, we don't believe that's right.
15:59:25
19
separately to protect our position."
15:59:28
20
15:59:29
21
we shouldn't go outside of the record at a time like this
15:59:33
22
because Your Honor is not in a position to know yet, without
15:59:38
23
benefit of expert testimony or fact testimony, what the course
15:59:41
24
of conduct is for lenders in a syndicate when their
15:59:46
25
administrative agent tells them --
Okay.
THE COURT:
MR. RICE:
Your Honor.
So at that juncture what Bank of
They can go ahead and fund and none did,
This is, I think, in the complaints.
None did
So let me go back to that issue in terms of
THE COURT:
You're talking about course of dealings and
MR. HEATON:
We're going to fund
Your Honor, this is a great example of why
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 31 of 63
Oral Argument
31
15:59:46
1
15:59:49
2
fairly on the face of the complaint that there was a procedure
15:59:56
3
in process where Bank of America said, "This is the position of
16:00:01
4
the ad hoc committee.
16:00:08
5
any term lenders disagree, go ahead and you may act separately."
16:00:13
6
I mean, that's not subject to expert testimony.
16:00:17
7
if that's a fair statement of what appears on the face of what
16:00:21
8
has been pled.
16:00:23
9
16:00:25
10
unfair would be to infer from that that the reason that the term
16:00:32
11
lenders did not fund was that they agreed with, acquiesced in,
16:00:41
12
Bank of America's decision.
16:00:44
13
hoc.
16:00:48
14
And to get back to the interrelatedness of a
16:00:52
15
transaction like this, something that the Court in the Deutsche
16:00:55
16
Bank case that we cite recognized, and which would be proven if
16:01:00
17
we had the chance to take evidence on this, is that no one is
16:01:09
18
going to fund into that sort of a situation.
16:01:15
19
16:01:21
20
or this thing doesn't make any sense.
16:01:24
21
would show when we got there is Bank of America knew full well,
16:01:28
22
or should have known full well, that no one was going to fund
16:01:32
23
once they had announced that their decision was it wasn't a
16:01:38
24
valid notice.
16:01:39
25
THE COURT:
MR. HEATON:
I didn't ask about that.
I'm asking what's
We're going to proceed to not fund and if
That's a fair statement.
I'm just asking
What would be
That ad hoc committee was very ad
It was not any official committee.
The whole idea here is that either everybody's funding
And what the evidence
And I think, you know, if we're going to go outside
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 32 of 63
Oral Argument
32
16:01:42
1
like this or if we're gonna look at stuff which is, you know,
16:01:46
2
outside the pleadings, but certainly outside the four corners of
16:01:48
3
the agreement, all of this is going to show that these terms are
16:01:54
4
susceptible to reasonable differences of opinion, and we need to
16:01:58
5
take discovery to figure out what this means.
16:02:01
6
16:02:05
7
you had two people before you saying this is unambiguous and the
16:02:09
8
other guy is being unreasonable.
16:02:12
9
think the term lenders are telling it like it is with respect to
16:02:17
10
these items.
16:02:21
11
agreement.
16:02:22
12
16:02:28
13
Reasonable minds can differ and they did differ because some of
16:02:30
14
the term lenders funded.
16:02:36
15
16:02:39
16
What is before Your Honor, you know, based on the pleadings and
16:02:40
17
the agreements are as Your Honor stated:
16:02:44
18
borrowing request on March 3, Bank of America gave the notice
16:02:49
19
that it gave.
16:02:51
20
agreement says each lender is obligated to make its own
16:02:55
21
decisions without reliance on anybody else, and what's also in
16:02:58
22
the record from Mr. Heaton's pleading, as well as elsewhere, is
16:03:04
23
that nobody funded in response to that second borrowing request
16:03:08
24
and did not fund until the request for the revolving loan was
16:03:15
25
removed from the agreement.
And when Your Honor went through this in August 2009,
Their view is unreasonable.
This term "fully drawn" is ambiguous in this
You know, there is ambiguity in this agreement.
MR. RICE:
Your Honor, if I may just very quickly.
After the second
It was also in the record that the credit
I think that clearly is supportive
May 7, 2010
I
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 33 of 63
Oral Argument
33
16:03:19
1
of the clear and unambiguous reading of "fully funded" that Your
16:03:23
2
Honor has previously found.
16:03:25
3
16:03:30
4
motion that anybody feels they need to bring up at this point in
16:03:34
5
oral argument that's not already covered by the papers?
16:03:39
6
MR. RICE:
16:03:42
7
THE COURT:
16:03:46
8
we've been at this about 45 minutes, and I want to have
16:03:50
9
sufficient time for the other issues.
16:03:53
10
Anything else from your side on that?
16:03:56
11
MR. HEATON:
16:03:57
12
THE COURT:
16:04:02
13
Bank of America's motion to dismiss the term lenders'
16:04:06
14
disbursement agreement claims which is Docket Entry 35 and
16:04:13
15
invite again anything you wish to emphasize here at oral
16:04:19
16
argument that you feel needs to be fleshed out more.
16:04:23
17
16:04:26
18
from O'Melveny & Myers.
16:04:30
19
argument because you have the papers and it's all there.
16:04:34
20
want to emphasize that term lenders -- they assert that the
16:04:39
21
disbursement agent here is the gatekeeper and that the
16:04:43
22
disbursement agent is lenders' last line of defense.
16:04:47
23
16:04:51
24
are entirely inconsistent with the clear and unambiguous terms
16:04:55
25
of the disbursement agreement which at every turn seeks to limit
THE COURT:
All right.
Is there anything else in the
Nothing from me, Your Honor.
MR. CANTOR:
Anyone else in terms of the motion because
No, Your Honor.
All right.
Thank you.
Thank you.
Thank you, Your Honor.
So let me turn to
Again, Dan Cantor
I will not go through the full blown
I just
And while these are nice rhetorical flourishes, they
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 34 of 63
Oral Argument
34
16:05:00
1
the disbursement agent's obligations and clearly establishes
16:05:04
2
that the position of disbursement agent is essentially an
16:05:09
3
administrative position.
16:05:13
4
gatekeeper.
16:05:16
5
auditor.
16:05:17
6
I would most particularly direct Your Honor's attention
16:05:20
7
to §§ 2.4.4 and 9.3.2 of the disbursement agreement which, taken
16:05:29
8
together, make it clear that with respect to advance requests,
16:05:35
9
the disbursement agent's sole obligation was to make sure that
16:05:39
10
the advance request that was submitted by Fontainebleau
16:05:41
11
contained all of the necessary documents.
16:05:45
12
were certifications that the conditions for funding under § 3.3
16:05:51
13
were met.
16:05:53
14
16:05:57
15
there, the disbursement agent had no choice.
16:06:01
16
It shall send an advance confirmation notice to the funding
16:06:04
17
agents who, in turn, shall release the funds to Fontainebleau.
16:06:10
18
16:06:16
19
amplifies the limited nature of the disbursement agent's
16:06:20
20
obligations.
16:06:22
21
not required to conduct any independent investigation with
16:06:25
22
respect to the accuracy, completeness, veracity of documents
16:06:29
23
submitted by Fontainebleau to certify its compliance.
16:06:33
24
16:06:35
25
The disbursement agent was not a
It was not a watchdog.
It certainly was not an
Among those documents
If, in fact, all of the required documentation was
It was required.
§ 9.3.2 -- I'll do this very quickly, Your Honor --
It specifically provides the disbursement agent is
It specifically provides that notwithstanding anything
else in the agreement to the contrary, that in approving an
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 35 of 63
Oral Argument
35
16:06:40
1
advance request, the disbursement agent is allowed to rely on
16:06:44
2
certifications from Fontainebleau as to the satisfaction of
16:06:49
3
conditions, and it specifically provides that the disbursement
16:06:52
4
agent is protected in acting upon any certifications that it
16:06:56
5
provides or that it receives, rather, from Fontainebleau.
16:07:01
6
16:07:04
7
any breach of contract claim with respect to the disbursement
16:07:09
8
agent's -- with respect to BofA's conduct as the disbursement
16:07:16
9
agent fails to state a claim, Your Honor.
16:07:18
10
MR. HENNIGAN:
16:07:19
11
of the plaintiffs in this case.
16:07:30
12
argument, one would assume that if you went back and read the
16:07:33
13
complaint, we allege that Bank of America failed in its
16:07:37
14
obligations as disbursement agent.
16:07:39
15
16:07:44
16
significantly, it was also the bank agent which is also called
16:07:50
17
the administrative agent.
16:07:53
18
to describe the responsibilities of the disbursement agent in
16:08:00
19
many different places, and I would suggest that some of those,
16:08:07
20
even if we were talking about the responsibilities as
16:08:09
21
disbursement agents, have been, shall we say, overly
16:08:17
22
optimistically characterized by counsel.
16:08:20
23
16:08:31
24
reliance generally which if you would just listen to the
16:08:34
25
argument, you would assume that this is like a letter of credit
So it is clear, Your Honor, from these provisions that
Your Honor, Michael Hennigan on behalf
Listening to counsel's
Bank of America played many roles here and,
There are provisions here that tend
He points, for example, to 9.3.2.
May 7, 2010
9.3.2 encaptioned
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 36 of 63
Oral Argument
36
16:08:38
1
where the disbursement agent is required to examine the document
16:08:42
2
itself and if the document itself appears to be in order and
16:08:47
3
properly signed, that he can and should rely on it.
16:08:53
4
what it says.
16:08:54
5
16:09:00
6
to skip into a complex paragraph -- "with a document believed by
16:09:05
7
it on reasonable grounds to be genuine and to have been signed
16:09:10
8
and presented by the proper party."
16:09:13
9
16:09:21
10
American Heritage Dictionary this morning to look at "genuine."
16:09:27
11
"Genuine" of course, means, "sincere."
16:09:32
12
means "to be trusted."
16:09:36
13
16:09:42
14
grounds to believe that it's genuine with the allegations of the
16:09:47
15
complaint that very specifically set forth the fact that Bank of
16:09:50
16
America, at the time it began processing these disbursement
16:09:56
17
requests, was fully aware of the fact that there had been a
16:10:01
18
material breach of one of the lending agreements by Lehman
16:10:03
19
Brothers and specified that that notice had been received by
16:10:11
20
them several months earlier.
16:10:13
21
16:10:21
22
there's a gatekeeper here, it's the BofA, it's not the
16:10:26
23
disbursement agent but the BofA.
16:10:30
24
its responsibilities as the bank agent, Paragraph 3.3 of the
16:10:34
25
agreement requires that the bank agent -- and I'm going to read
That's not
9.3.2 requires the disbursement agent -- and I'm going
Well, "genuine and signed."
We did a quick look of the
It means "real."
It
So we contrast that phrase of requiring reasonable
So we begin there.
We also point out the fact that if
Perhaps most significantly in
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 37 of 63
Oral Argument
37
16:10:41
1
this paragraph slowly and carefully -- "Conditions precedent to
16:10:46
2
advances by the trustee and the bank agent.
16:10:54
3
the trustee to make advances from the second mortgage proceeds
16:11:01
4
account to the second mortgage funding account and of the bank
16:11:04
5
agent to make advances from the bank proceeds account are each
16:11:08
6
subject to the prior satisfaction of each of the conditions
16:11:11
7
precedent set forth in this Section 3.3."
16:11:15
8
16:11:23
9
16:11:28
10
functioning responsibility of the bank agent at that moment in
16:11:32
11
time.
16:11:37
12
disbursement process, to ensure, make reasonable efforts to
16:11:40
13
conclude that the conditions precedent in 3.3 have been
16:11:44
14
satisfied.
16:11:44
15
We, of course, have alleged, I think very plainly, that
16:11:50
16
not only were they not but that Bank of America -- and we're not
16:11:56
17
specific with respect to which capacity it is -- was aware of
16:12:02
18
the fact that there were material breaches and they were aware
16:12:04
19
of them because term lenders had put them on specific notice of
16:12:09
20
it.
16:12:12
21
One of the provisions of Section 3 --
16:12:18
22
THE COURT:
16:12:21
23
record that deals with whether the plaintiffs here or their
16:12:28
24
predecessors were among those that put the bank on notice?
16:12:31
25
The obligations of
Well, there are, as far as I'm aware, no limitations or
no paragraphs that would describe some kind of narrow
He is required as bank agent, before he proceeds with the
Well, let me ask:
MR. HENNIGAN:
Is there anything in the
Plaintiffs and their predecessors put
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 38 of 63
Oral Argument
38
16:12:34
1
them on notice, yes.
16:12:35
2
THE COURT:
16:12:41
3
were aware of defaults, at least what could be characterized as
16:12:45
4
defaults, prior to making the draw term loans.
16:12:55
5
16:12:59
6
the emphasises here that relates to the prior argument as well
16:13:03
7
is this was one tightly knit, cohesive lending agreement that we
16:13:13
8
believed at the time anyone who failed to fund in the face of a
16:13:16
9
demand from the Bank of America in whichever capacity was going
16:13:20
10
to do so at its peril because it was likely going to crash this
16:13:25
11
entire multibillion dollar project.
16:13:28
12
16:13:30
13
understand in terms of your position.
16:13:33
14
predecessors knew and informed Bank of America and truly
16:13:37
15
believed that there were defaults, then why fund since you had
16:13:45
16
an independent and severable opportunity to make that decision.
16:13:53
17
16:13:53
18
Your Honor, it is our obligation to fund whether or not there
16:13:55
19
have been defaults.
16:14:00
20
know, we have an administrative agent, sometimes also called the
16:14:05
21
bank agent, who is responsible for ensuring that those funds do
16:14:10
22
not leave the sanctity of that account and get out into the
16:14:19
23
project until there are no longer any material breaches.
16:14:22
24
fact of the material breach does not prevent our obligation to
16:14:24
25
fund; it prevents their obligation to disburse.
So therefore plaintiffs and predecessors
MR. HENNIGAN:
THE COURT:
Indeed, Your Honor, and I think one of
This is what I'd like you to help me
MR. HENNIGAN:
If plaintiff and
Because the way we read the obligations,
It goes into a special block account.
May 7, 2010
You
So the
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 39 of 63
Oral Argument
39
16:14:29
1
16:14:33
2
conditional on that by saying our position is that there is a
16:14:41
3
default because of these two situations, and we are stating this
16:14:47
4
to you to make sure these other components of the agreement are
16:14:52
5
met so our monies are not further disbursed in a way that
16:14:57
6
prejudices us until this issue is resolved.
16:15:03
7
16:15:06
8
me on the Deutsche Bank where there was a declaratory action as
16:15:10
9
to what would happen or not happen under the circumstances.
16:15:13
10
this is where I'm having some difficulty because there's nothing
16:15:17
11
I saw from your side of it, or your predecessor's side, that
16:15:24
12
funded conditionally subject to maintaining rights.
16:15:30
13
that?
16:15:35
14
if I consider at this point -- but to what extent does that
16:15:40
15
address the issues of Bank of America's responsibility when
16:15:47
16
it's, you know, something that is also subject to your control
16:15:52
17
as well.
16:15:53
18
16:15:55
19
agreements, we were required to fund.
16:15:59
20
relatively safe function and keeps us from breaching.
16:16:04
21
step is whether Bank of America is going to permit disbursal and
16:16:08
22
in the two communications to the BofA dated September and
16:16:16
23
October '08, they say:
16:16:23
24
default and here are some of the things you can do.
16:16:29
25
is the borrower's legal counsel should provide an opinion that
THE COURT:
But wouldn't your communication be
In effect, this is something like the case you cited to
So
What about
I mean, to what extent is that something -- I don't know
MR. HENNIGAN:
Well, as I said, the way we read the
That's supposed to be a
The next
"We believe that there has been a
May 7, 2010
One of them
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 40 of 63
Oral Argument
40
16:16:37
1
the Lehman funding agreement is in full force and effect.
Our
16:16:43
2
position is that Lehman is in breach of the agreement.
16:16:46
3
not appear that the retail lenders made the September payment
16:16:50
4
but, rather, equity investors.
16:16:55
5
Merrill Lynch.
16:16:59
6
made for funding requests were false."
16:17:08
7
16:17:13
8
disbursement agent received notice of Lehman default from one or
16:17:17
9
more term lenders.
16:17:24
10
necessarily a default forever and steps can be taken in the
16:17:29
11
interim to make sure that the defaults have been cured and that
16:17:35
12
the project is still in force, and that's where we rely upon the
16:17:40
13
discretion, good faith and contractual responsibilities of the
16:17:45
14
BofA.
16:17:48
15
16:17:49
16
and let me try to get to all of it, and I'll try to do it in the
16:17:53
17
order in which Mr. Hennigan laid it out.
16:17:59
18
his first arguments are interesting arguments that I would have
16:18:02
19
enjoyed responding to in my reply brief had they been found
16:18:07
20
anywhere in his opposition brief, but this is the first time I'm
16:18:10
21
hearing of an argument about the word "genuine."
16:18:14
22
16:18:18
23
what 9.3.2 was meant to mean was that the disbursement agent
16:18:25
24
shall be protected in acting or referring on acting in any
16:18:29
25
certificate or other paper document believed by it on reasonable
It does
Please see attached report from
This would indicate that the reps the companies
As we alleged in Paragraph 129, the BofA as
I think the quick answer is a default isn't
MR. CANTOR:
Thank you, Your Honor.
There's a lot here
Certainly several of
I certainly believe that it would be an odd choice if
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 41 of 63
Oral Argument
41
16:18:34
1
grounds to be genuine or to be signed and presented.
16:18:38
2
that meant was that, in fact, we needed to believe that it was
16:18:42
3
accurate, notwithstanding the fact that later in the paragraph
16:18:44
4
it says that we are not required to conduct any independent
16:18:47
5
investigation as to the accuracy, veracity or completeness of
16:18:51
6
any such items or investigate any other facts or circumstances
16:18:55
7
to verify compliance by the project entities, "genuine" is an
16:18:59
8
odd word to have chosen to laden it with as much meaning as
16:19:05
9
counsel now gives it here.
16:19:08
10
The second argument was about --
16:19:10
11
THE COURT:
16:19:13
12
I missed this -- is there anything in the complaint where
16:19:17
13
Fontainebleau affirmatively certifies that there was no default,
16:19:22
14
such that Bank of America could rely upon that?
16:19:26
15
MR. CANTOR:
16:19:28
16
THE COURT:
16:19:31
17
point to in the complaint one way or the other that refers to
16:19:38
18
Fontainebleau affirmatively certifying that there was no
16:19:40
19
default, such that Bank of America could rely upon that?
16:19:46
20
16:19:48
21
specifically allege that.
16:19:50
22
contract provides that Fontainebleau will submit this advance
16:19:57
23
request.
16:20:01
24
Exhibit C1.
16:20:05
25
disbursement agreement and thus is in the record in that form.
MR. CANTOR:
Can we go back?
I'm sorry.
If what
Is there anything -- maybe
I couldn't hear Your Honor.
I say, Is there anything that anyone could
I don't know whether plaintiffs
The process, Your Honor, under the
A copy of the advance request is in the record.
It's
A model advance request is Exhibit C1 to the
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 42 of 63
Oral Argument
42
16:20:08
1
And what you'll see if you look at the document is that it
16:20:12
2
requires numerous, different representations, warranties and
16:20:17
3
certifications by Fontainebleau, among other things, as to the
16:20:21
4
satisfaction of all conditions required for funding.
16:20:29
5
16:20:32
6
respect to counsel's argument with § 3.3 and the bank agent's
16:20:40
7
responsibility to fund because if you look at the way this is
16:20:43
8
supposed to work -- and it's very important, Your Honor, to
16:20:47
9
recognize that in this complex lending transaction, these
16:20:51
10
lengthy documents, lengthy and detailed documents, set up some
16:20:55
11
very specific procedures that had to be followed here and if
16:20:59
12
they were followed, there were rights that flow from that, and
16:21:02
13
we can't just sit here and argue about what should've happened
16:21:04
14
or what sounds right.
16:21:07
15
16:21:10
16
of the contract were followed.
16:21:14
17
agreement, it provides, let me back up one.
16:21:19
18
Fontainebleau to submit an advance request in order to obtain
16:21:24
19
funds that have been provided by the lenders.
16:21:29
20
this advance request which I previously described to Your Honor,
16:21:31
21
under 2.4.4 the disbursement agent reviews the advance request
16:21:37
22
and the attachments thereto to determine whether all required
16:21:41
23
documentation has been provided.
16:21:45
24
that the disbursement agent has under 2.4.4.
16:21:50
25
And that actually, Your Honor, is significant with
We have to look and see whether the specific provisions
In § 2.4.4 of the disbursement
§ 2.4 provides for
When they submit
That is the only obligation
If you then flip forward to 2.4.6, it says that
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 43 of 63
Oral Argument
43
16:21:54
1
when the applicable conditions precedent set forth in Article 3
16:21:58
2
have been satisfied, and they get satisfied in this instance by
16:22:01
3
virtue of a certification to the disbursement agent by the
16:22:05
4
borrower that they've been satisfied, then it says the
16:22:09
5
disbursement agent shall execute an advance confirmation notice
16:22:13
6
setting forth the amount of advances to be made pursuant to each
16:22:17
7
finance agreement on the advance date.
16:22:19
8
16:22:24
9
16:22:28
10
agents, which is the same as the bank agent, shall make the
16:22:31
11
advances contemplated by that advance confirmation notice to the
16:22:36
12
relevant accounts.
16:22:38
13
So to the extent that we're talking about obligations
16:22:42
14
under the disbursement agreement here, it is clear that all of
16:22:46
15
the proper -- that there has been no allegation that the proper
16:22:49
16
steps were not followed here.
16:22:54
17
as I read them and as described in plaintiffs' opposition brief
16:23:00
18
after we said when we read the complaint, we see the claim
16:23:04
19
against BofA as disbursement agent to be the following:
16:23:08
20
BofA was wrong in approving advance requests and in not issuing
16:23:13
21
stop funding notices.
16:23:14
22
16:23:17
23
there, that there was some other claim that we needed to address
16:23:20
24
because we would have addressed it in our reply brief.
16:23:23
25
we have established, Your Honor, in our briefs is that with
And then if you go further down in that paragraph, it
says that on the scheduled advance date, each of the funding
The allegations in the complaint,
That
No one ever said to us that we'd missed something
May 7, 2010
And what
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 44 of 63
Oral Argument
44
16:23:25
1
respect to those two claims, that if you parse through § 2.4.4
16:23:29
2
and 2.4.6 which deal with advance requests and if you look at §
16:23:35
3
2.5.1 which deals with the conditions under which a stop funding
16:23:41
4
notice is permitted to issue, there is no allegation that BofA
16:23:47
5
in its capacity as disbursement agent has breached any
16:23:50
6
obligation that it had under the disbursement agreement.
16:23:53
7
16:23:59
8
breached any obligation that it had under the disbursement
16:24:01
9
agreement.
16:24:06
10
have quarrel with whether BofA took actions that they consider
16:24:10
11
to be improper under other agreements.
16:24:14
12
claim, we'll address it.
16:24:15
13
16:24:18
14
whether Bank of America breached the disbursement agreement, and
16:24:22
15
there is no allegation sufficient when read next to the clear
16:24:27
16
and unambiguous terms of the disbursement agreement establishing
16:24:31
17
that sort of a breach.
16:24:34
18
16:24:37
19
which, I think, gets sometimes spoken about too swiftly when
16:24:44
20
counsel for BofA is speaking.
16:24:50
21
"When the applicable conditions precedent set forth in Article 3
16:24:54
22
have been satisfied," that's when the rest of the paragraph
16:24:59
23
follows.
16:25:00
24
16:25:04
25
There isn't even any allegation that BofA as bank agent
These are disbursement agreement claims.
They may
If they ever plead that
But the claim that we're dealing with here now is
MR. HENNIGAN:
Your Honor, let's go back to 2.4.6
Let me read the first sentence:
Let's go back to Article 3.
Article 3 is the one that
says that the bank agent is required -- obligations are
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 45 of 63
Oral Argument
45
16:25:09
1
conditioned upon the satisfaction of all the conditions
16:25:12
2
precedent.
16:25:20
3
16:25:23
4
account made concurrently with or after exhaustion of the second
16:25:27
5
mortgage proceeds account, the bank agent shall not have become
16:25:32
6
aware, after the date hereof, of any information or other matter
16:25:37
7
affecting any loan party, Turnberry residential, the project or
16:25:43
8
the transactions contemplated hereby that, taken as a whole, is
16:25:48
9
inconsistent in a material and adverse manner with the
16:25:51
10
information or other matter disclosed to them concerning such
16:25:56
11
projects and the project taken as a whole."
16:25:58
12
16:26:01
13
precedent to disbursing any funds, cannot have become aware of
16:26:05
14
any adverse information.
16:26:10
15
16:26:12
16
agreement and the way that the funding mechanism was set up.
16:26:18
17
Looking at 2.4.6:
16:26:23
18
forth in Article 3 have been satisfied, the disbursement agent
16:26:29
19
shall."
16:26:35
20
make it crystal clear that the disbursement agent's
16:26:39
21
responsibility with respect to determining whether the
16:26:41
22
conditions precedent set forth in Article 3 have been satisfied,
16:26:45
23
that obligation is fulfilled if it receives a certification from
16:26:51
24
the borrower that all of the conditions necessary to a borrowing
16:26:55
25
have been satisfied.
Let me read to you condition precedent 3.3.21.
"In the case of each advance from a bank proceeds
In other words, Bank of America, as a condition
MR. CANTOR:
Your Honor, that ignores the rest of the
"When the applicable conditions precedent set
The rest of the contract, particularly 2.4.4 and 9.3.2,
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 46 of 63
Oral Argument
46
16:26:56
1
When they get that certification and there's no
16:26:58
2
16:26:59
3
16:27:02
4
16:27:07
5
16:27:09
6
16:27:15
7
THE COURT:
Would you answer my question?
16:27:17
8
MR. CANTOR:
I am trying to, Your Honor.
16:27:19
9
16:27:23
10
representation.
16:27:25
11
make that representation.
16:27:26
12
16:27:29
13
that be an important part of your statement of claim that
16:27:35
14
Fontainebleau failed to make representation, and there was a
16:27:43
15
loan anyway?
16:27:47
16
important to your claim as it relates to Bank of America?
16:27:51
17
MR. HENNIGAN:
16:27:51
18
THE COURT:
16:27:53
19
MR. HENNIGAN:
16:27:54
20
16:27:58
21
16:28:01
22
16:28:02
23
16:28:06
24
had failed to allege that Bank of America was actually on notice
16:28:10
25
of adverse information, in which case we would have to then
allegation --
THE COURT:
So was there a certification that's part of
anything in this record so far from Fontainebleau?
I would say, Your Honor, there is no --
MR. CANTOR:
the process is the process.
The -- the -- the --
I apologize.
There is no allegation that Fontainebleau made that
There is also no allegation that they failed to
THE COURT:
Well, let me ask you about that.
Wouldn't
I mean, isn't what Fontainebleau did or didn't do
No.
Explain that to me.
First of all, there's no allegation one
way or the other in the complaint.
THE COURT:
That's why I'm asking whether that's
materially missing.
MR. HENNIGAN:
It is not.
May 7, 2010
It might be important if we
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 47 of 63
Oral Argument
47
16:28:13
1
allege that they were not in possession of the kind of
16:28:16
2
documentation that would have permitted them to fund.
16:28:21
3
not our case.
16:28:22
4
16:28:25
5
know, we can assume here that Fontainebleau, you know, was at
16:28:30
6
least filing routine documents that were saying that the thing
16:28:35
7
was in balance, for example.
16:28:36
8
16:28:40
9
16:28:45
10
information out there that it can't and should not be permitted
16:28:50
11
to ignore.
16:28:51
12
16:28:55
13
from Page 3.
16:29:00
14
say:
16:29:06
15
default under the disbursement agreement concerning the
16:29:08
16
allegedly Lehman defaults.
16:29:14
17
was permitted to rely on, and indeed could not disregard,
16:29:17
18
Fontainebleau's certification as to the satisfaction of the
16:29:22
19
disbursement agent's conditions precedent to funding."
16:29:25
20
16:29:27
21
allegation that there was such a certification, but they're flat
16:29:32
22
wrong about the description of the complaint.
16:29:36
23
specifically says that you were on notice of a default because
16:29:40
24
we sent it to you.
16:29:43
25
That's
You know, for purposes of this discussion only, you
What happens here is what happens when Bank of America
is on notice and it's true that there is material adverse
Let me read from the reply brief of Bank of America
The second full paragraph about halfway down they
"There's no allegation that BANA ever received a notice of
In the absence of such notice, BANA
A little footnote there:
MR. CANTOR:
We didn't make that
The complaint
Well, there's several problems with that.
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 48 of 63
Oral Argument
48
16:29:46
1
First of all, all they allege in the complaint is that letters
16:29:49
2
were sent.
16:29:53
3
describe the letters in any detail.
16:29:56
4
them.
16:29:59
5
16:30:02
6
16:30:03
7
16:30:05
8
they try to conflate all of the different roles that BofA had in
16:30:11
9
this transaction and, admittedly, they had multiple roles.
16:30:15
10
16:30:19
11
states that knowledge that BofA has in one context is not
16:30:26
12
imputed to it in another context.
16:30:30
13
a letter to Bank of American as lender or Bank of America as
16:30:31
14
bank agent and said, "Hey, did you hear about the Lehman
16:30:34
15
default," that's not notice to Bank of America as disbursement
16:30:37
16
agent.
16:30:38
17
16:30:41
18
believe it to be, the parties specifically decided that the
16:30:47
19
disbursement agent, whether it be BofA or somebody else, was not
16:30:52
20
going to be burdened with that issue of whether there were
16:30:56
21
defaults or not.
16:31:02
22
agent shall be protected in acting upon information that it
16:31:07
23
receives from Fontainebleau; that notwithstanding anything else
16:31:11
24
in the agreement to the contrary that in performing its duties,
16:31:16
25
including approving advance requests, disbursement agent shall
They don't say whom they were sent to.
They don't
They certainly don't attach
The issue here is not --
THE COURT:
Well, how detailed do we have to get at
this stage?
MR. CANTOR:
Well, it's important, Your Honor, because
But there is a specific provision in the contracts that
And so therefore if they sent
And in any event, as remarkable as plaintiffs seem to
9.3.2 makes it clear that the disbursement
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 49 of 63
Oral Argument
49
16:31:19
1
be entitled to rely on certifications from the project entities.
16:31:24
2
They want to read into that some notion --
16:31:27
3
THE COURT:
16:31:30
4
because I asked about the issue of whether there was
16:31:35
5
certification of nondefault.
16:31:39
6
Fontainebleau had to submit along with its request?
16:31:42
7
16:31:44
8
establish that we breached our obligations, they have to
16:31:48
9
plead -- and they have not -- that Fontainebleau failed to
16:31:52
10
certify that there was compliance and we went ahead and issued a
16:31:59
11
confirmation notice anyway.
16:32:01
12
They don't allege that, so they have not properly
16:32:03
13
alleged a breach by Bank of America as disbursement agent.
16:32:09
14
THE COURT:
16:32:13
15
technical arguments.
16:32:27
16
difficult because the matters alleged, the two breaches, I mean,
16:32:29
17
Lehman and, what was it, Nevada Bank --
16:32:32
18
MR. HENNIGAN:
16:32:34
19
THE COURT:
16:32:37
20
16:32:41
21
MR. CANTOR:
16:32:43
22
THE COURT:
16:32:49
23
16:32:56
24
16:32:58
25
So I'm going around in circles a little bit
Isn't that something that
Yes, Your Honor.
MR. CANTOR:
In order for them to
I understand a lot of this comes down to
I'm going to back off for a moment.
It's
Yes.
-- were known to the plaintiffs and Bank of
America and everybody else.
Arguably, Your Honor, there were other -So how could Fontainebleau certify there
was no default when those two issues were clearly on the table?
MR. CANTOR:
I don't know.
Fontainebleau.
May 7, 2010
I can't speak for
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 50 of 63
Oral Argument
50
16:32:59
1
16:33:03
2
is whether in order for your side, your complaint, is that an
16:33:06
3
essential allegation, that in addition to knowledge there was
16:33:13
4
no certification of nondefault.
16:33:16
5
MR. HENNIGAN:
16:33:18
6
THE COURT:
16:33:20
7
MR. HENNIGAN:
16:33:22
8
that we're going to stand on is:
16:33:27
9
of America as bank agent -- let's draw a circle around it -- as
16:33:32
10
16:33:37
11
16:33:39
THE COURT:
Well, that's what I'm struggling with here,
No, Your Honor.
That's where I'm struggling.
The case that we've alleged and the one
What is the obligation of Bank
bank agent when it knows that that certification is false?
Okay.
I understand your position because
12
you're at a pleading stage.
This is something that may be more
16:33:43
13
appropriate at a summary judgment argument on their side of the
16:33:46
14
equation.
16:33:52
15
of one means or another, I'm not sure they have to.
16:33:59
16
16:34:02
17
they might have wanted to plead, and we would have moved against
16:34:05
18
it and dealt with it.
16:34:07
19
America as disbursement agent should not have approved advance
16:34:11
20
requests or should have issued stop funding notices.
16:34:15
21
different than what Bank of America as bank agent should have
16:34:18
22
done.
16:34:18
23
16:34:22
24
you can't conflate them and place Bank of America as
16:34:25
25
disbursement agent for which it was paid not by the lenders but
THE COURT:
You're arguing they knew.
MR. CANTOR:
Whether they knew because
That's an interesting claim and one that
But what they pled is that Bank of
These are divided.
That's
These positions are divided up, and
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 51 of 63
Oral Argument
51
16:34:29
1
by the borrower a paltry sum and say that it's going to be
16:34:34
2
responsible for a billion eight in financing if it wrongly
16:34:38
3
approves an advance request when the language of the contract is
16:34:42
4
so clear that all it was doing was checking boxes and making
16:34:45
5
sure that documents were attached.
16:34:47
6
16:34:51
7
agent under the credit agreement for not taking action?
16:34:54
8
know, but that's not what they've pled here.
16:34:58
9
the complaints.
16:35:02
10
specifically about approving advance requests and failing to
16:35:09
11
issue stop funding notices.
16:35:15
12
the Aurelius complaint.
16:35:19
13
it's in the third claim.
16:35:20
14
16:35:24
15
pled, and it's sufficiently different that it doesn't even come
16:35:27
16
within the normal rules about reading a pleading broadly and
16:35:31
17
allowing them to state any claim.
16:35:34
18
against a difficult entity.
16:35:35
19
It so happens in this case that BofA had multiple
16:35:40
20
roles, but they've asserted a claim against the disbursing
16:35:42
21
agent.
16:35:44
22
to plead a claim against the bank agent, well, they had a chance
16:35:47
23
to do that and they didn't.
16:35:48
24
THE COURT:
16:35:51
25
MR. HENNIGAN:
Do they have a claim against Bank of America as bank
I don't
It's clear from
Paragraph 176 of the Avenue complaint talks
The same is truth with respect to
I don't have specific paragraph now but
They're now arguing a different claim than the one they
It's a different claim
They've failed to plead it as such.
Anything else.
If they want to try
Any last points?
Your Honor, I think he's confusing
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 52 of 63
Oral Argument
52
16:35:54
1
complaints.
In our complaint, the Avenue complaint, there is no
16:35:58
2
allegation that Bank of America failed to perform its
16:36:02
3
responsibilities as disbursement agent.
16:36:04
4
that they were both the bank agent and the disbursement agent.
16:36:08
5
16:36:12
6
responsibilities throughout.
16:36:15
7
You know, I don't want, you know, the power of the argument here
16:36:19
8
to change the words on the page.
16:36:23
9
breached its responsibilities.
16:36:25
10
16:36:29
11
amount of time trying to figure out this metaphysical difference
16:36:33
12
between the Bank of America as disbursement agent and the Bank
16:36:35
13
of America as bank agent and the Bank of America as funding
16:36:39
14
agent.
16:36:40
15
16:36:43
16
16:36:46
17
THE COURT:
16:36:48
18
MR. HENNIGAN:
19
THE COURT:
16:36:52
20
MR. HENNIGAN:
16:36:54
21
THE COURT:
16:36:56
22
MR. HENNIGAN:
16:36:58
23
you get knowledge in one capacity and not in another capacity if
16:37:01
24
you're the same person.
16:37:03
25
We very clearly allege
We then allege that Bank of America failed in its
You know, that's what we pleaded.
We pleaded Bank of America
Now, I have to tell you something.
I've spent a fair
You know, I don't know how that works.
You know, I'd kind of understand if they had told me
that their Milan branch --
THE COURT:
Were they a draw lender, too?
Yes, they were.
Okay.
No, no.
They were a revolving lender.
They were a revolving lender.
Okay.
So I don't know understand exactly how
Well, I mean, part of the problem, too, is
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 53 of 63
Oral Argument
53
16:37:06
1
Bank of America as revolving lender says, "Well, we knew there
16:37:12
2
were defaults which is one of the reasons why we didn't fund
16:37:17
3
Fontainebleau, and that's why we shouldn't be subject to any
16:37:20
4
liability to them."
16:37:21
5
16:37:23
6
16:37:25
7
THE COURT:
16:37:27
8
half in Bank of America or --
16:37:29
9
MR. CANTOR:
16:37:31
10
to read the documents and take their words as they are written,
16:37:35
11
not as they are characterized by counsel.
16:37:38
12
respect to advance requests and stop funding notices is not
16:37:43
13
knowledge, it's notice.
16:37:50
14
BofA as disbursement agent received a notice.
16:37:54
15
THE COURT:
16:37:55
16
MR. CANTOR:
16:37:55
17
16:37:56
18
THE COURT:
16:37:57
19
MR. CANTOR:
16:38:02
20
THE COURT:
16:38:07
21
16:38:07
22
16:38:08
23
16:38:09
24
THE COURT:
16:38:11
25
MR. CANTOR:
MR. CANTOR:
That is why, Your Honor, it is important
to read -So does one half communicate with the other
But, Your Honor, that's why it's important
All right.
The issue here with
The question is whether
From whom?
From the bank agent.
But the reason why
it's important that they --
division?
From whom?
From Bank of America as bank agent.
So one division sends a notice to the other
Is that what you're saying?
MR. CANTOR:
The reason that would be important, Your
Honor, is because if you look -Is that what you're saying?
They would need to paper it correctly.
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 54 of 63
Oral Argument
54
16:38:13
1
It's not enough to assume that someone told someone else.
They
16:38:17
2
would need to paper it.
16:38:18
3
16:38:21
4
as some people may think it sounds, is because if you look at
16:38:25
5
2.5.1, Bank of America as disbursement agent is then supposed to
16:38:29
6
provide a copy of that notice of default to Fontainebleau when
16:38:33
7
it issues a stop funding notice to Fontainebleau saying we're
16:38:36
8
not giving you the money that you want.
16:38:38
9
16:38:41
10
provide that notice to Fontainebleau.
16:38:45
11
me, by the way, just before I move --
16:38:50
12
16:38:52
13
16:38:53
14
16:38:57
15
me make sure I'm looking at -- well, I'm sorry.
16:39:01
16
other firm's complaints.
16:39:07
17
16:39:13
18
16:39:16
19
16:39:20
20
2008, and continuing through the March 25 Advance Request,
16:39:24
21
BofA materially breached its duties under the Disbursement
16:39:29
22
Agreement by improperly approving Advance Requests that
16:39:32
23
failed to meet one or more of the conditions precedent under
16:39:36
24
§ 3.3 of the Disbursement Agreement, improperly issuing
16:39:41
25
Advance Confirmation Notices, improperly failing to issue
Your Honor, the reason that's important, as ridiculous
If they don't receive the notice, then they can't
THE COURT:
Again, Your Honor, let
We're going to have to wrap up in a few
minutes.
MR. CANTOR:
Yeah.
The complaint, Paragraph 154 -- let
That's the
Paragraph 176 of the Hennigan, Bennett & Dorman
complaint says that, beginning in Paragraph 176:
"Beginning with Advance Requests made in September
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 55 of 63
Oral Argument
55
16:39:42
1
Stop Funding Notices."
16:39:43
2
Your Honor, those --
16:39:46
3
MR. HENNIGAN:
16:39:47
4
MR. CANTOR:
16:39:50
5
16:39:53
6
16:39:57
7
16:40:00
8
16:40:05
9
16:40:09
10
16:40:11
11
16:40:16
12
the disbursement agent which in 2.4.6, I said, provides that
16:40:20
13
when they get this advance confirmation notice, they shall fund.
16:40:24
14
So for them to say that their allegations are not about BofA in
16:40:29
15
its role as the disbursement agent is totally contrary to
16:40:33
16
Paragraph 176.
16:40:36
17
obligation to issue Advance Confirmation Notices, Stop Funding
16:40:38
18
Notices, and approve Advance Requests.
16:40:40
19
16:40:43
20
16:40:45
21
MR. HEATON:
16:40:47
22
THE COURT:
16:40:48
23
MR. HEATON:
16:40:50
24
Aurelius complaint at Paragraph 152.
16:40:57
25
its obligation as bank agent, (administrative agent), and/or
Can we finish the sentence?
Let me finish it!
Let's see.
Where did I
leave off?
"And improperly disbursing funds from the Bank Proceeds
Account pursuant to such deficient Advance Requests."
Your Honor, the first three of those are
responsibilities of the disbursement agent.
They are not
responsibilities of the bank agent.
The final one flows from the notice that they get from
It's only the disbursement agent that has the
THE COURT:
I can't wait to hear this argument in front
of a jury.
Your Honor, may I have ten seconds?
Just last words.
Very last, just to this point, the
May 7, 2010
BofA's failure to fulfill
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 56 of 63
Oral Argument
56
16:41:00
1
disbursement agent by approving Advance Requests constitutes a
16:41:03
2
material breach of its obligations under the disbursement
16:41:07
3
agreement.
16:41:08
4
16:41:12
5
both bank agent and disbursement agent is belied by just going
16:41:16
6
back and reading these allegations, Your Honor.
16:41:18
7
16:41:21
8
clear that the bank agent doesn't approve advance requests.
16:41:24
9
they could allege whatever they want about the bank agent but if
16:41:27
10
it's not an obligation in the contract, it doesn't establish a
16:41:31
11
breach.
16:41:31
12
16:41:33
13
16:41:35
14
MR. HENNIGAN:
16:41:35
15
THE COURT:
16:41:37
16
through some of these matters, but I appreciate all work that
16:41:40
17
you've done on it.
16:41:41
18
16:41:45
19
The idea that we don't allege breaches of duties as
And, Your Honor, the contract is crystal
MR. CANTOR:
All right.
THE COURT:
So
Thank you for your appearances
today.
Thank you, Your Honor.
It's going to take me a little time to work
Have a nice weekend.
MR. HEATON:
Thank you very much, Your Honor.
[The proceedings conclude at 4:41 p.m., 5/7/10.]
20
21
22
23
24
25
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 57 of 63
57
1
2
3
CERTIFICATE
I hereby certify that the foregoing is an accurate transcription of the
proceedings in the above-entitled matter.
4
5
6
7
8
9
10
________________
05.08.10
DATE
______________________________________
JOSEPH A. MILLIKAN, RPR-CM-NSC-FCRR
Official United States Court Reporter
Federally Certified Realtime Reporter
Wilkie D. Ferguson, Jr., United States Courthouse
400 North Miami Avenue, Suite 11-1
Miami, FL 33128
305.523.5588
(Fax) 305.523.5589
jamillikan@aol.com
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Quality Assurance by Proximity Linguibase Technologies
May 7, 2010
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 58 of 63
58
A
Aaron 2:12 6:4
ability 24:21,22 25:14
able 6:11 15:13
about 7:21,23,23 8:1,15 9:7 10:1,24
14:17 22:8,15,20 27:3,4,23 30:14
31:1 33:8 35:20 39:12 40:21 41:10
42:13 43:13 44:19 46:12 47:13,22
48:14 49:4 51:10,16 55:14 56:9
above-entitled 57:3
absence 26:15 47:16
absent 15:3
absolutely 15:2 21:11
absurd 17:10
accessible 19:21
account 25:7 37:4,4,5 38:19,22 45:4,5
55:7
accounts 43:12
accuracy 34:22 41:5
accurate 41:3 57:2
ACP 1:20 4:12 5:18
acquiesced 31:11
acquired 29:19
act 28:20 30:7 31:5
acting 35:4 40:24,24 48:22
action 8:4 27:19 39:8 51:7
actions 44:10
actually 9:12,23 16:23 25:14 42:5
46:24
ad 29:7,9,21 30:6 31:4,12,12
add 14:12 15:6
addition 11:1 12:2 21:5 50:3
address 12:16 21:3 22:8 25:2 39:15
43:23 44:12
addressed 22:9 25:13 43:24
addresses 11:9
administered 18:20
administrative 30:2,25 34:3 35:17
38:20 55:25
admittedly 8:8 48:9
adopted 23:16
advance 34:8,10,16 35:1 41:22,23,24
42:18,20,21 43:5,7,9,11,2 0 44:2
45:3 48:25 50:19 51:3,10 53:12
54:19,20,22,2 5 55:7,13,17,1 8 56:1,8
advances 37:2,3,5 43:6,11
adverse 45:9,14 46:25 47:9
advising 29:6
affecting 45:7
affidavit 29:3
affirmative 26:13
affirmatively 26:8,17 41:13,18
after 5:7 15:14 30:17 32:17 43:18 45:4
45:6
afternoon 4:1,3,8,15 5:14,25 6:3,4,16
AG 2:12
again 5:10 10:17 25:23 27:9 28:6
33:15,17 54:10
against 14:10 43:19 50:17 51:6,18,20
51:22
agent 29:5 30:2,25 33:21,22 34:2,3,15
34:20 35:1,4,9,14,16,17,1 8 36:1,5
36:23,24,25 37:2,5,10,1 1 38:20,21
40:8,23 42:21,24 43:3,5,10,1 9 44:5
44:7,25 45:5,18 48:14,16,19,22,25
49:13 50:9,10,19,21,2 5 51:7,21,22
52:3,4,4,12,13,1 4 53:14,16,19 54:5
55:9,10,12,15,16,25,2 5 56:1,5,5,8,9
agents 34:17 35:21 43:10
agent's 34:1,9,19 35:8 42:6 45:20
47:19
agree 9:13 11:7 30:16
agreed 18:13 31:11
agreement 10:9,14,19,2 0 11:1,2,4,8
11:17,19,20,2 2 12:1,6,10 13:2,8
14:20 15:8,8 17:12,15,18 19:17
22:17 23:22 24:1,18 25:16 27:21
32:3,11,12,20,2 5 33:14,25 34:7,25
36:25 38:7 39:4 40:1,2 41:25 42:17
43:7,14 44:6,9,9,14,1 6 45:16 47:15
48:24 51:7 54:22,24 56:3
agreements 7:9 10:9,10,21,2 3 12:3
17:11 18:19 32:17 36:18 39:19
44:11
ahead 12:16 25:25 30:8 31:5 49:10
ALAN 1:9
allegation 43:15 44:4,7,15 46:2,9,10
46:19 47:14,21 50:3 52:2
allegations 26:13 36:14 43:16 55:14
56:6
allege 26:17 28:23 35:13 41:21 46:24
47:1 48:1 49:12 52:3,5 56:4,9
alleged 8:6 26:8,15 29:24 37:15 40:7
49:13,16 50:7
allegedly 26:5 47:16
allow 17:8
allowed 35:1
allowing 51:17
alluded 12:17
almost 9:23
along 49:6
already 21:12,16 22:1,5 23:1,11 33:5
always 9:11 10:1 15:15
ambiguity 25:9,9 32:12
ambiguous 32:10
America 2:8 4:19 6:1 28:19,20 30:2,5
30:16 31:3,21 32:18 35:13,15 36:16
37:16 38:9,14 39:21 41:14,19 44:14
45:12 46:16,24 47:8,12 48:13,15
49:13,20 50:9,19,21,2 4 51:6 52:2,5
52:8,12,13,1 3 53:1,8,19 54:5
American 36:10 48:13
America's 29:4 31:12 33:13 39:15
amicus 21:3
among 11:3,8,9 12:11 15:9 17:1 34:11
37:24 42:3
amount 13:8 24:4 43:6 52:11
amplifies 34:19
analysis 7:7,11,15 8:17,19 9:22 28:21
and/or 55:25
Angeles 1:17
announced 31:23
another 10:25 11:20 15:3,16 19:6
48:12 50:15 52:23
answer 10:12 23:9 40:9 46:7
Anthony 2:17 6:7,12
anthony.paccione@ kattenlaw.com
2:19
anybody 7:7 9:4 10:10,10 11:11 19:12
32:21 33:4
anyone 14:12 33:7 38:8 41:16
anything 15:21 17:6 19:12 23:10,13
24:25 33:3,10,15 34:24 37:22 41:11
41:12,16 46:4 48:23 51:24
anyway 46:15 49:11
anywhere 40:20
apologize 4:18 6:2 10:15 46:8
appeal 21:18
appear 40:3
appearances 1:13 4:2,14 5:4,11,21
56:12
appears 31:7 36:2
apples 20:4
applicable 24:20 43:1 44:21 45:17
application 21:18
applied 22:24 24:16
apply 7:1,6
appreciate 16:7 56:16
approach 8:18,20
appropriate 50:13
approve 55:18 56:8
approved 50:19
approves 51:3
approving 34:25 43:20 48:25 51:10
54:22 56:1
April 26:4,4,12,19,20
area 20:20
arguably 8:3 49:21
argue 4:20 14:14 19:12 21:4 42:13
argued 11:14 29:22
arguing 18:16 50:14 51:14
argument 1:9 6:23 7:23 12:18 13:21
14:12 18:25 22:23 23:15,20 25:21
25:24 26:3,18 27:23 33:5,16,19
35:12,25 38:6 40:21 41:10 42:6
50:13 52:7 55:19
arguments 12:16 15:20 22:5,7 23:5
26:2 40:18,18 49:15
around 5:21 18:3 49:3 50:9
arrangement 20:17
arrangements 30:2
arrive 7:14
Article 7:23 8:4,10,12,16,2 1 9:1 43:1
44:21,24,24 45:18,22
arubinstein@ kayescholer.com 2:14
asked 30:1 49:4
asking 8:17 11:11 17:14 31:1,6 46:21
assert 7:17 33:20
asserted 26:23 51:20
asserting 9:16
assertion 13:14
associated 20:21
assume 12:10 18:16 35:12,25 47:5
54:1
attach 48:3
attached 29:2 40:4 51:5
attachments 42:22
attention 12:2,8 15:22 21:1,6 25:1
34:6
auditor 34:5
August 23:17 32:6
Aurelius 1:20 4:12 5:19 28:8 51:12
55:24
authority 26:24
availability 20:1
Avenue 1:15 2:4,13,18 3:7 4:9 5:14
19:14 51:9 52:1 57:8
aware 10:14 11:6 36:17 37:8,17,18
38:3 45:6,13
awful 21:14
B
B 1:20 24:18
back 5:3,4 10:11,18 11:23 21:4 28:6
30:12,17 31:14 35:12 41:11 42:17
44:18,24 49:15 56:6
background 17:25
balance 47:7
BANA 47:14,16
bank 2:3,3,4,8,17 4:17,17,18 5:23,24
6:1,8,13 14:24 25:7 28:19,19 29:4
30:1,4,16 31:3,12,16,2 1 32:18
33:13 35:13,15,16 36:15,24,25 37:2
37:4,5,10,11,16,2 4 38:9,14,21 39:8
39:15,21 41:14,19 42:6 43:10 44:7
44:14,25 45:3,5,12 46:16,24 47:8
47:12 48:13,13,14,1 5 49:13,17,19
50:8,9,10,18,21,21,2 4 51:6,6,22
52:2,4,5,8,12,12,13,1 3 53:1,8,16,19
53:19 54:5 55:6,10,25 56:5,8,9
Banking 2:21 6:15
banks 14:25
bank's 15:2
Barclays 2:3 4:17 5:24
Bartlett 2:3 4:16 5:23
Bartlit 1:21
based 9:6 20:22 21:6 22:10 32:16
basic 20:18
basically 14:25
basis 14:9 15:18
bear 15:16
Beck 1:21
become 45:5,13
before 1:9 19:16 20:1,25 21:11 24:18
26:8 32:7,16 37:11 54:11
began 36:16
begin 36:21
beginning 54:18,19
behalf 4:2,9,12 5:14,18 6:1,5,17 19:14
35:10
being 10:1 11:14 18:9 32:8
belied 56:5
believe 10:15,22 12:7 28:22 29:14,16
29:17,18,24 30:18 36:14 39:23
40:22 41:2 48:18
believed 36:6 38:8,15 40:25
beneficiaries 12:14
benefit 19:22 30:23
Bennett 1:16 54:17
Berry 3:21 9:20 14:8 16:22,23 18:10
18:11
better 15:25
between 11:3 12:10 18:14 52:12
beyond 11:22 18:7 23:7
bigger 24:5
bilateral 8:23 13:15,16,17
billion 51:2
Biscayne 2:22 3:2
bit 7:16 49:3
block 38:19
blown 33:18
BofA 36:22,23 39:22 40:7,14 43:19,20
May 7, 2010
44:4,7,10,2 0 48:8,11,19 51:19
53:14 54:21 55:14
BofA's 35:8 55:24
bore 19:11
borrower 18:22 19:2 27:16 43:4 45:24
51:1
borrower's 39:25
borrowing 12:21 20:23 22:22 24:5,7
26:4,5,19 28:1,3,4,9,23,2 4 30:3,10
32:18,23 45:24
both 7:3 14:17 18:21 21:16 24:20
26:10 29:24 52:4 56:5
Boulevard 2:22 3:2
bound 18:19
Bowen 2:22 6:14
boxes 51:4
branch 52:16
breach 7:17 8:6 12:19 14:9 15:18
20:22 26:6 35:7 36:18 38:24 40:2
44:17 49:13 56:2,11
breached 44:5,8,14 49:8 52:9 54:21
breaches 37:18 38:23 49:16 56:4
breaching 26:5 39:20
brief 14:2 21:5,9 40:19,20 43:17,24
47:12
briefed 9:21 15:22,25 16:12,14
briefing 25:18
briefly 14:13 24:13 27:12,15
briefs 24:10 43:25
bring 15:22 21:6 25:1 33:4
broadly 8:16 51:16
Brothers 36:19
brought 12:1,8 21:1
Buccola 1:21 4:12 5:18
burdened 48:20
burdening 27:23
C
C 2:2 57:1,1
CA 1:17
call 8:16
called 10:14,15 29:9 35:16 38:20
came 16:13 25:1 26:4 28:9
Camulos 3:1 6:17
Cantor 2:8 5:25,25 7:13,13 8:2,20
9:13 10:12 11:6,16 12:17 15:6 18:6
20:4 33:17,17 40:15 41:15,20 45:15
46:5,8 47:25 48:7 49:7,21,24 50:16
53:5,9,16,19,22,2 5 54:14 55:4 56:7
capacity 37:17 38:9 44:5 52:23,23
Capital 1:20 2:8 4:13 5:19 6:2
carefully 37:1
case 1:3 4:1 8:5,24 9:3 11:15 12:7 19:7
19:8 21:13 26:25 31:16 35:11 39:7
45:3 46:25 47:3 50:7 51:19
cases 14:2 21:25
cause 5:8
certainly 4:25 9:25 12:1 19:4 21:10
26:23 32:2 34:4 40:17,22 48:3
certificate 3:16 40:25
certification 19:18 43:3 45:23 46:1,3
47:18,21 49:5 50:4,10
certifications 34:12 35:2,4 42:3 49:1
Certified 3:7 57:7
certifies 41:13
certify 34:23 49:10,22 57:2
certifying 41:18
cetera 10:23
chance 23:19 25:2 31:17 51:22
change 52:8
changes 28:1
characterize 9:8 21:14
characterized 35:22 38:3 53:11
charge 23:14
Chase 2:4 4:17
checking 51:4
Chicago 1:22
choice 7:9,18,19 34:15 40:22
chosen 8:24 41:8
circle 50:9
circles 49:3
circuit 7:3,4,15
circuit's 6:25
circumstances 39:9 41:6
citation 9:3,6 16:19
CITATIONS 3:19
cite 9:20 16:8 31:16
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 59 of 63
59
cited 14:2 39:7
cites 27:23
claim 14:10 15:18 20:22 22:1 26:6
35:7,9 43:18,23 44:12,13 46:13,16
50:16 51:6,13,14,17,17,20,22
claims 8:15 33:14 44:1,9
clause 7:18 19:14,23 22:13
clear 14:22 15:2 16:16 17:20 18:18
20:5,7 21:12,19 22:19 27:4,13,18
33:1,24 34:8 35:6 43:14 44:15
45:20 48:21 51:4,8 56:8
clearly 19:11 22:18,22 24:17 32:25
34:1 49:23 52:3
clients 21:11
CLO 1:15
closing 19:7 27:25
Co 3:21,21
cohesive 38:7
colloquial 8:3
come 5:3,4 30:17 51:15
comes 8:13 9:9 12:12 25:5 49:14
comfortable 4:6 9:25
commercially 17:10 18:24 30:15
commitment 12:22,24 13:4,13 14:7
14:15,22,24,2 4 15:3 23:21,22 24:2
24:7 27:5
commitments 13:9 14:11 26:9,20
committee 28:17 29:7,8,9,13,2 1 31:4
31:12,13
committee's 30:1,6
common 7:12
communicate 53:7
communication 29:4 39:1
communications 39:22
companies 40:5
company 27:19
comparing 20:4
complaint 9:17 28:8 29:1 30:13 31:2
35:13 36:15 41:12,17 43:16,18
46:20 47:22,22 48:1 50:2 51:9,12
52:1,1 54:14,18 55:24
complaints 6:20 28:23 30:9 51:9 52:1
54:16
complete 19:19,21
completeness 34:22 41:5
complex 20:16 36:6 42:9
complexity 11:1
compliance 34:23 41:7 49:10
components 39:4
conceded 26:7,10
concern 20:21
concerning 45:10 47:15
conclude 37:13 56:19
concurrently 45:4
condition 45:2,12
conditional 39:2
conditionally 39:12
conditioned 45:1
conditions 27:25 34:12 35:3 37:1,6,13
42:4 43:1 44:3,21 45:1,17,22,24
47:19 54:23
conduct 30:24 34:21 35:8 41:4
confess 10:17
confirmation 34:16 43:5,11 49:11
54:25 55:13,17
conflate 48:8 50:24
confusing 51:25
connection 12:19
consider 39:14 44:10
consideration 12:24 13:1 14:8
considerations 13:12
consistent 9:19
constitutes 56:1
constitutional 8:10,12
contact 30:1
contained 34:11
contemplated 43:11 45:8
CONTENTS 3:14
context 22:19 25:15 48:11,12
contexts 14:20 15:2
continue 12:10
continued 19:25
continuing 54:20
contract 1:6 7:17,18,18,2 5 8:4,6,7,10
8:21,22 9:2,18,22 10:2 12:8,19
13:25 14:10,21 15:18 16:1,6,15,17
16:23 17:3,7,21,23,2 5 18:13,18,19
18:24 19:1,5,11 20:7,11,18,22
21:21 22:4,11 23:8 26:25 27:13
35:7 41:22 42:16 45:19 51:3 56:7
56:10
contracting 8:7
contracts 8:14 16:9,20,21 17:9,10
48:10
contractual 8:25 9:15,16 20:16 40:13
contract's 14:1
contrary 13:7 34:25 48:24 55:15
contrast 14:19 36:13
control 39:16
controlling 14:8
controversy 8:5
copy 41:23 54:6
corners 18:23 21:21 23:8 32:2
Corp 6:2
Corporation 6:15
correct 10:5
corrected 28:24
correctly 53:25
costs 28:1
could've 15:25
counsel 4:18 35:22 39:25 41:9 44:20
53:11
counsel's 35:11 42:6
counterpoint 6:22
course 11:2 30:14,23 36:11 37:15
Court 1:1 3:6 4:1,5,10,14,2 2 5:2,9,10
5:16,20 6:2,9,18 7:21 8:13 9:3 10:3
10:7,24 11:11,25 12:9 14:12 15:19
16:12 17:14 18:5,11 19:12 20:3,20
21:18,20,22 23:10,16 24:21,25
25:17,25 26:23 27:16 28:6 29:8,12
30:4,12 31:1,15 33:3,7,12 37:22
38:2,12 39:1 41:11,16 46:3,7,12,18
46:21 48:5 49:3,14,19,2 2 50:1,6,11
51:24 52:17,19,21,2 5 53:7,15,18,20
53:24 54:12 55:19,22 56:12,15 57:7
Courthouse 57:8
COURTROOM 1:4
cover 23:10
covered 15:20 33:5
covers 10:16,19
crash 38:10
create 16:10
creates 25:8
credit 7:9 10:9,20,21 11:1,19 13:2,8
14:19,23 15:8,12 19:21 23:22 24:1
32:19 35:25 51:7
creditors 11:3
creditors/lenders 12:11
crucial 17:16
crystal 17:20 21:12 45:20 56:7
cured 40:11
C1 41:24,24
D
D 1:15 57:8
damages 12:19 20:14
Dan 5:25 7:13 33:17
DANIEL 2:8
date 27:25 43:7,9 45:6 57:6
dated 39:22
day 14:5 26:8
dcantor@omm.com 2:10
deal 10:8,25 22:23 44:2
dealing 15:11 44:13
dealings 30:14
deals 37:23 44:3
dealt 22:4 50:18
decided 48:18
deciding 18:11
decision 28:19 31:12,23 38:16
decisions 32:21
declaratory 39:8
default 26:11,16,18 27:7,10 39:3,24
40:8,9,10 41:13,19 47:15,23 48:15
49:23 54:6
defaults 27:17 38:3,4,15,1 9 40:11
47:16 48:21 53:2
defendant 6:5
defendants 2:1 6:19 16:8,19,25
defense 33:22
deficient 55:7
defined 24:19
definition 23:21
definitions 21:24
delay 14:18 15:5,14 19:8 22:12,13,20
23:14,18,21,22,23,24,2 5 24:1,2,2,7
24:13,14 25:10,11 28:10
delve 20:16
demand 38:9
demanded 24:11
demonstrably 13:16
denying 21:17
describe 35:18 37:9 48:3
described 42:20 43:17
description 18:7,8 47:22
designed 18:20
detail 27:22 48:3
detailed 42:10 48:5
details 27:18 28:4
determine 42:22
determined 10:4
determining 45:21
Deutsche 2:3 4:17 5:23 31:15 39:8
developed 23:11
devoid 23:6
dictionary 21:24 36:10
differ 32:13,13
difference 7:1 52:11
differences 32:4
different 7:22 14:4 35:19 42:2 48:8
50:21 51:14,15,17
difficult 49:16 51:18
difficulty 39:10
Dillman 1:15 4:9 5:15
dillmank@bhdlawyers.com 1:18
dimension 8:10
direct 34:6
disagree 7:7 29:25 31:5
disagreed 30:6
disagrees 28:20
disburse 38:25
disbursed 39:5
disbursement 10:10 11:2,17,22 33:14
33:21,22,25 34:1,2,3,7,9,15,19,20
35:1,3,7,8,14,18,2 1 36:1,5,16,23
37:12 40:8,23 41:25 42:16,21,24
43:3,5,14,1 9 44:5,6,8,9,14,1 6 45:18
45:20 47:15,19 48:15,19,21,25
49:13 50:19,25 52:3,4,12 53:14
54:5,21,24 55:9,12,15,1 6 56:1,2,5
disbursing 45:13 51:20 55:6
disclosed 45:10
discovery 32:5
discretion 40:13
discussed 19:15
discussion 12:9 47:4
dismiss 6:20 33:13
dispersal 39:21
disposed 22:5
dispute 12:25 14:6
disputes 10:3
disregard 47:17
DISTRICT 1:1,1,10
divided 50:23,23
division 1:2 53:20,21
Docket 6:21 33:14
document 10:13 17:17 36:1,2,6 40:25
42:1
documentation 34:14 42:23 47:2
documents 11:1 34:11,11,22 42:10,10
47:6 51:5 53:10
doing 21:14 51:4
dollar 38:11
done 16:6 27:11 50:22 56:17
Dorman 1:16 54:17
doubt 17:25
down 9:9 12:13 43:8 47:13 49:14
dozens 13:16
draw 14:18 15:5,14 19:8 22:4,12,13,20
23:14,18,21,22,23,24,2 5 24:1,2,2,7
24:14,14 25:10,11 28:10,13,14,18
30:5 38:4 50:9 52:17
drawn 20:24 21:20,20 23:2 24:8,11
29:22 32:10
duties 11:5 48:24 54:21 56:4
duty 17:5,24
E
E 29:3 57:1,1
each 13:9,13,19 15:1 19:22 22:9,15
24:1,6 25:5,11 32:20 37:5,6 43:6,9
May 7, 2010
45:3
earlier 19:8 36:20
early 4:22
easily 9:24
effect 17:14 39:7 40:1
effort 20:17
efforts 37:12
eight 51:2
either 9:25 13:4 18:24 31:19
Eleventh 7:3
elsewhere 25:7 26:17 32:22
Emery 3:1
Emory 6:17
emphasises 38:6
emphasize 15:24 23:12,13 33:15,20
encaptioned 35:23
end 8:8 14:5 15:17
enforce 8:6,25 10:2 13:3,21 14:1,7
16:2,5,18 17:2,8 18:2,3 20:6,8
enforceable 17:12,23
enforcing 16:24
enjoyed 40:19
enough 16:16 54:1
ensure 37:12
ensuring 38:21
enter 17:11
entire 15:14 24:4 26:18 38:11
entirely 33:24
entities 41:7 49:1
entitled 49:1
entitles 14:6
entity 51:18
Entry 6:21 33:14
environmental 28:2
equally 24:20
equation 50:14
equity 40:4
equivalent 17:2
ESQ 1:15,15,20,2 1 2:2,3,8,12,17,21
3:1
essentially 9:12 12:12 28:11 34:2 50:3
establish 49:8 56:10
established 43:25
establishes 34:1
establishing 44:16
et 10:23
even 21:13,25 22:23 35:20 44:7 51:15
event 10:4 26:11,15 48:17
events 26:18
ever 24:16 43:22 44:11 47:14
every 16:2 19:19 33:25
everybody 5:11 6:19 25:17 49:20
everybody's 6:23 31:19
evidence 31:17,20
exact 18:15
exactly 14:21 27:15 52:22
exalting 20:18
examine 36:1
example 16:22 23:19 29:15 30:20
35:23 47:7
except 25:12
exclude 16:23
excuse 20:13
execute 43:5
exhausted 15:15
exhaustion 45:4
exhibit 29:3,25 41:24,24
existence 10:1 26:17
exists 12:4
expectations 19:2
expecting 18:25
expert 30:23 31:6
Explain 46:18
express 16:4,9,17 17:20
expressly 13:5,9 17:24
extensive 11:18
extent 39:13,14 43:13
extra 25:6
F
F 57:1
face 18:18 19:11 20:10 30:13 31:2,7
38:8
facility 15:13
fact 7:24 13:4,7,16 18:12 30:17,23
34:14 36:15,17,21 37:18 38:24 41:2
41:3
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 60 of 63
60
facts 18:10 41:6
failed 35:13 38:8 46:10,14,24 49:9
51:21 52:2,5 54:23
failing 51:10 54:25
fails 26:6 35:9
failure 20:14 55:24
fair 12:4,5 28:21 30:15 31:7,9 52:10
fairly 28:23 30:13 31:2
faith 40:13
false 13:16 16:19 18:1 40:6 50:10
far 37:8 46:4
fashion 15:10
Fax 1:17,23 2:5,14,19,2 3 3:3,8 57:9
federal 7:11
Federally 3:7 57:7
feel 25:21 33:16
feels 33:4
fees 13:13
Ferguson 57:8
few 5:5 54:12
Figueroa 1:16
figure 32:5 52:11
filing 47:6
final 15:7 55:11
finance 43:7
financing 51:2
finish 55:3,4
firm's 54:16
first 4:2 12:15 22:25 40:18,20 44:20
46:19 48:1 55:8
Fitzgerald 2:3 4:16 5:23
FL 2:23 3:2,8 57:9
flat 47:21
fleshed 23:20 33:16
flip 42:25
FLORIDA 1:1,5
flourishes 33:23
flow 25:4 42:12
flows 55:11
focus 17:5 26:3
focusing 19:4
followed 42:11,12,16 43:16
following 43:19
follows 44:23
Fontainebleau 1:5 12:22,25 13:11,11
15:11 20:10,12,13,1 5 21:13 26:12
34:10,17,23 35:2,5 41:13,18,22
42:3,18 46:4,9,14,1 5 47:5 48:23
49:6,9,22,2 5 53:3 54:6,7,10
Fontainebleau's 12:20 21:17 47:18
footnote 27:8 47:20
force 40:1,12
foregoing 57:2
forever 40:10
form 13:12 20:18 41:25
formed 29:7
forms 24:20
forth 27:18 36:15 37:7 43:1,6 44:21
45:18,22
forward 28:10 42:25
forwarded 28:19
found 21:16,23 22:14 23:2 24:24
29:23 33:2 40:19
four 18:23 21:21 23:7 32:2
Fracasso 2:21 6:14,14
frankly 22:16
from 4:4,16 5:23 6:5,7,16 7:3,13 8:18
9:7,21 10:24 12:7 15:4 16:24 17:5
18:18 22:20 28:16 29:4 31:10 32:22
32:25 33:6,10,18 35:2,5,6 37:3,5
38:9 39:11,20 40:4,8 42:12 45:3,23
46:4 47:12,13 48:23 49:1 51:8
53:15,16,18,1 9 55:6,11,11
front 4:7 19:6 55:19
fulfill 55:24
fulfilled 45:23
full 22:25 24:17 25:3,6,8 31:21,22
33:18 40:1 47:13
fully 20:24,24 21:20,23 23:2,2,3 29:22
32:10 33:1 36:17
function 39:20
functioning 37:10
fund 3:1 6:17 12:20 19:10,10 20:1
28:11 30:8,18 31:4,11,18,2 2 32:24
38:8,15,18,2 5 39:19 42:7 47:2 53:2
55:13
funded 19:6 20:24 21:23 23:3 24:8,14
32:14,23 33:1 39:12
funding 14:10 15:17 19:16 20:16
28:14 30:3 31:19 34:12,16 37:4
40:1,6 42:4 43:9,21 44:3 45:16
47:19 50:20 51:11 52:13 53:12 54:7
55:1,17
funds 12:25 19:19 25:4 34:17 38:21
42:19 45:13 55:6
further 11:21 25:12 39:5 43:8
F.3d 9:4
G
gatekeeper 33:21 34:4 36:22
gave 32:18,19
general 21:19
generally 35:24
genuine 36:7,9,10,11,1 4 40:21 41:1,7
GERALD 2:21
gets 15:25 44:19
getting 7:2
give 8:6 9:6 27:15,17,22
given 7:4 16:5 19:4 24:19 26:21 27:7
28:5
gives 24:21 25:13 27:7 41:9
giving 13:3 54:8
glaringly 15:3
go 6:21 7:10,15 10:10,18 12:16 15:1
22:6 23:7,19,21,2 5 25:20,25 28:6,7
28:15 30:8,12,21 31:5,25 33:18
41:11 43:8 44:18,24
goes 14:25 25:7 29:23 38:19
going 4:20 15:13,16,17 19:1,3 20:5
21:4 25:12 30:18 31:4,18,22,25
32:3 36:5,25 38:9,10 39:21 48:20
49:3,15 50:8 51:1 54:12 56:5,15
GOLD 1:9
gone 11:23
gonna 32:1
good 4:1,3,8,15 5:13,25 6:4,16 26:20
40:13
great 8:22 30:20
ground 21:10
grounds 36:7,14 41:1
guess 10:12 21:8 22:7
guy 32:8
H
half 53:7,8
halfway 47:13
hammer 16:25
happen 19:3 23:1 39:9,9
happened 42:13
happens 16:22 47:8,8 51:19
happy 14:3 22:7 23:8
Harvester 3:21 9:20 14:9 16:22,23
18:10,11
having 9:12 39:10
hear 6:11,23 23:4 41:15 48:14 55:19
hearing 40:21
Heaton 1:20 4:11,11 5:17,17 9:11
10:6 11:7 12:5 15:24 16:14 17:19
23:13 25:3,13 30:20 31:9 33:11
55:21,23 56:18
Heaton's 32:22
help 38:12
helpful 6:22
Hennigan 1:15,16 4:3,4,8,9 5:13,14
19:13,13 35:10,10 37:25 38:5,17
39:18 40:17 44:18 46:17,19,23
49:18 50:5,7 51:25 52:18,20,22
54:17 55:3 56:14
Hennigan's 21:10
hennigan@hbdlawyers.com 1:18
hereof 45:6
Heritage 36:10
Herman 1:21
Hey 48:14
Highland 29:15,18
hoc 29:7,9,21 30:6 31:4,12,13
hold 24:10
holder 24:2
holding 6:2
Honor 4:3,8,11,15,18,2 1 5:1,13,17,22
5:25 6:4,7,13 7:13 8:2,9,21 9:11
10:6,13,17,2 0 11:6,7,16,2 3 12:5,17
14:3,13,16 15:6,10,18,2 5 16:7,8
17:19 18:6 19:13 20:4 21:8,12,16
22:1,4,8,14,1 6 23:1,4,13 24:13,23
25:4,14,23 26:22 27:12 28:22 29:14
29:16,23 30:9,20,22 32:6,15,16,17
33:2,6,11,1 7 34:18 35:6,9,10 38:5
38:18 40:15 41:15,21 42:5,8,20
43:25 44:18 45:15 46:5,8 48:7 49:7
49:21 50:5 51:25 53:5,9,23 54:3,10
55:2,8,21 56:6,7,14,18
HONORABLE 1:9
Honor's 34:6
HSH 2:12 6:5
Hubbard 1:22
hurdle 9:23
I
idea 16:25 22:11 31:19 56:4
identical 13:18,18 18:15
identify 13:2,22
ignore 47:11
ignores 15:10 45:15
III 1:20
IL 1:22
imagine 7:8
immediately 30:1
impliedly 13:5
important 12:2 16:24 42:8 46:13,16
46:23 48:7 53:5,9,17,2 2 54:3
importantly 21:22 22:23 26:25 29:23
impose 5:2
improper 44:11
improperly 54:22,24,25 55:6
imputed 48:12
incidental 12:13
included 29:10
including 16:18 24:18 48:25
inconsistent 33:24 45:9
incorporated 28:12
increased 28:1
indeed 23:7 24:21 26:7,13,16 38:5
47:17
independent 10:9 28:14 34:21 38:16
41:4
independently 28:21 30:7
indicate 40:5
indicates 20:11
individual 22:15
inescapable 24:22
infer 31:10
information 45:6,10,14 46:25 47:10
48:22
informed 38:14
initial 15:4 19:7
injury 7:24 8:5 9:23
innocently 9:13
instance 43:2
insure 19:20
intended 12:13
intercredit 17:17
intercreditor 10:14 11:4
interest 7:24 29:20
interesting 40:18 50:16
interim 40:11
interlender 10:9 11:4,8 17:18
interlocutory 21:18
interpret 24:22 25:15
interpretation 22:11 29:22
interpreting 9:18
interrelatedness 31:14
introduced 18:13
investigate 41:6
investigation 34:21 41:5
investors 40:4
invite 33:15
in-balance 19:15
issue 7:5,9,17,25 8:10,15,20,21,2 3 9:1
9:2,5,8 11:10,21 12:3 15:21 20:24
30:12 39:6 44:4 48:4,20 49:4 51:11
53:11 54:25 55:17
issued 26:9,13 49:10 50:20
issues 6:24 7:11,12 12:12 17:16 20:21
25:22 28:2 33:9 39:15 49:23 54:7
issuing 43:20 54:24
items 32:10 41:6
IV 1:15
i.e 13:10
J
J 1:15,21
May 7, 2010
James 1:20 4:11 5:17
jamillikan@aol.com 3:9 57:10
jb.heaton@bartlit-beck.com 1:23
joinder 16:10 17:20
joint 4:20 6:20 16:1,10,15,1 7 17:1,3,7
17:21,23
jointly 18:20
JOSEPH 3:6 57:6
JP 2:4 4:17 5:23
Jr 2:21 57:8
JUDGE 1:10
judgment 21:17 50:13
juncture 30:4
Jurisprudence 16:8,20
jury 55:20
just 4:6,6 5:5,11 7:10 9:9,12,21 10:19
11:9 14:13,16 15:6 16:13 21:9 23:1
23:6,17,21 24:13 25:3,24 27:12,22
31:6 32:15 33:19 35:24 42:13 54:11
55:22,23 56:5
K
Katten 2:17 6:8,12
Kaye 2:12 6:5
keeps 39:20
kind 7:25 8:17 37:9 47:1 52:15
kinds 11:13
Kirk 1:15 4:9 5:15
knew 19:4 31:21 38:14 50:14,14 53:1
knit 19:24 38:7
know 4:21,22 7:9 8:16,25 9:8,20,25
10:10,23 14:14,15,17,2 1 21:11,22
22:8,9,12,1 8 23:4,5 26:1,6,16,24
27:9,15 29:17 30:17,22 31:25 32:1
32:12,16 38:20 39:13,16 41:20 47:4
47:5,5 49:24 51:8 52:6,7,7,14,14,15
52:22
knowledge 48:11 50:3 52:23 53:13
known 31:22 49:19
knows 10:20 50:10
L
L 2:8,17
laden 41:8
laid 23:5 26:22 40:17
language 22:24 51:3
LAS 1:5
last 15:11 33:22 51:24 55:22,23
late 17:15
later 41:3
law 7:2,5,6,9,11,12,18,19,1 9 8:21 9:1,9
10:4 12:7,12 13:23 14:8 17:4,8,19
18:1 20:5,15 26:7,25 28:1,2
laying 11:18
least 29:17 38:3 47:6
leave 38:22 55:5
left 11:21 19:19
legal 8:11 39:25
legally 7:24
Lehman 36:18 40:1,2,8 47:16 48:14
49:17
lend 12:25 16:25 17:13 18:22 19:23
20:9,12,14
lender 13:9 17:11 19:22 22:15 23:23
23:23,25 24:1,1,15 25:11 32:20
48:13 52:17,20,21 53:1
lenders 6:20 8:14,24 9:15 10:19,21
11:3,9,9 12:18,23,24,2 5 13:2,5,13
13:14,18 14:5,16,22 15:7,9,15 17:1
17:8,12 18:21 19:3,4,7,9,9,2 5 20:9
20:12,12,22 21:2,10 25:8 26:9
28:10,14,18 29:5,7,8,10,10,11,25
30:5,24 31:5,11 32:9,14 33:13,20
33:22 37:19 40:3,9 42:19 50:25
lending 12:22 13:3,20 15:9 18:8,19
36:18 38:7 42:9
lengthy 42:10,10
let 5:2,10,20 10:7 15:19 21:4 25:23
28:6 30:12 33:12 37:22 40:16 42:17
44:20 45:2 46:12 47:12 54:10,14
55:4
letter 14:23 35:25 48:13
letters 48:1,3
let's 6:24 25:20 44:18,24 50:9 55:4
Lexington 2:4
liability 53:4
life 10:25
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 61 of 63
61
light 24:9
like 6:19,21 7:10 11:1,5 12:1 14:3
20:25 22:4 23:14 30:21 31:15 32:1
32:9 35:25 38:12 39:7
likely 38:10
limit 33:25
limitations 37:8
limited 34:19
line 14:24 23:15 33:22
listen 35:24
Listening 35:11
LITIGATION 1:6
little 47:20 49:3 56:15
LLP 1:16 2:3,8,12,17 3:1
loan 13:19 14:24 22:13,15 23:15,18,24
24:3,5,14 25:5,11,11 29:6,10,18
32:24 45:7 46:15
loans 13:10,13 14:18,19 15:4,5,14,17
20:1 22:12,21 23:1 24:17 38:4
longer 38:23
look 10:11,18 11:12 12:2 13:7 14:17
17:9 32:1 36:9,10 42:1,7,15 44:2
53:23 54:4
looked 6:25 11:16,24 18:11
looking 7:3 18:7 19:25 21:19,20,22
27:2,14,21 45:17 54:15
Los 1:17
lot 21:14 40:15 49:14
Ltd 1:15,20
Lynch 2:8 4:19 6:2 40:5
M
M 3:1
Mach 3:21
made 13:14 20:6 21:18 22:21 26:2
28:13,17,18 40:3,6 43:6 45:4 46:9
54:19
Madison 2:18
magic 18:17
main 22:10
maintain 14:9
maintaining 39:12
make 7:1 9:17 13:10 14:21 15:2,19
22:16 23:23 24:15 25:24 27:13
28:15 30:2 31:20 32:20 34:8,9 37:3
37:5,12 38:16 39:4 40:11 43:10
45:20 46:11,14 47:20 54:15
makes 20:7 25:11,15 27:18 48:21
making 14:18 38:4 51:4
manner 24:22,23 45:9
many 8:22 13:17 35:15,19
March 12:21 20:23 28:9,23,25 29:1
32:18 54:20
Master 1:20,20 3:1 4:12,13 5:18 6:17
material 36:18 37:18 38:23,24 45:9
47:9 56:2
materially 46:22 54:21
matter 9:17 26:7 45:6,10 57:3
matters 10:24 21:1 49:16 56:16
may 1:6 4:1,22 7:16 10:17,18 13:18
14:13 15:6 19:13 24:8 31:5 32:15
44:9 50:12 54:4 55:21
maybe 28:2 41:11
McDermott 3:1 6:17
mean 13:25 16:2 21:23 22:14,14 24:8
26:1 27:10 31:6 39:13 40:23 46:15
49:16 52:25
meaning 21:19,20 25:10 41:8
meaningless 13:22
meanings 24:19
means 22:18,18,22 23:22 24:1,11 32:5
36:11,11,12 50:15
meant 9:14,24 23:2 24:4,14 40:23
41:2
mechanism 25:4 45:16
meet 54:23
member 29:18
members 29:12
merely 13:24 16:1
merit 23:7
Merrill 2:8 4:19 6:1 40:5
met 28:18 34:13 39:5
metaphysical 52:11
Miami 1:2,5 2:23 3:2,7,8 57:8,9
Michael 1:15 4:3,8 5:14 19:13 35:10
microphone 4:5,7 6:10
microphones 5:12
might 46:23 50:17
Milan 52:16
MILLIKAN 3:6 57:6
million 28:24,25
mind 6:21 8:9
minds 32:13
mine 4:25
minutes 5:5 33:8 54:13
minutia 20:16
mischaracterized 18:10
mislabeled 9:13
misnomer 7:16
missed 41:12 43:22
missing 46:22
Mitsui 2:21 6:15
model 41:24
moment 37:10 49:15
money 20:10,14 54:8
monies 24:16 25:6 39:5
months 36:20
more 7:16 8:3 12:6 22:23 26:25 33:16
40:9 50:12 54:23
Morgan 2:4 4:17 5:24
morning 36:10
mortgage 37:3,4 45:5
most 21:21 28:2,10 34:6 36:23
motion 4:19,20 15:12 21:17 25:22
29:2,17 33:4,7,13
motions 6:20 29:4
move 54:11
moved 50:17
Moving 20:20
Mowing 3:21
much 41:8 56:18
Muchin 2:17 6:8,12
multibillion 38:11
multilateral 8:22
multiparty 8:22 13:25
multiple 48:9 51:19
must 16:17
mutual 13:21,23
mutually 18:13
Myers 2:8 6:1 7:14 33:18
N
Nachtwey 1:20 4:11 5:18
narrow 37:9
nature 7:4 34:19
near 13:18
necessarily 40:10
necessary 16:4,10 17:21 25:21 34:11
45:24
need 4:5 6:9 7:15 16:15 18:17 23:4
28:4 32:4 33:4 53:25 54:2
needed 21:1 41:2 43:23
needs 33:16
Nevada 49:17
never 25:9
new 2:4,9,13,18 7:2,5,19 10:4 12:12
13:23 16:8,19 17:3,7,19 21:14 22:1
22:7
next 20:20 39:20 44:15
nice 33:23 56:17
nobody 32:23
nondefault 49:5 50:4
none 14:1 30:8,9
nonetheless 14:14
Nordbank 2:12 6:6
normal 51:16
North 3:7 57:8
nothing 20:10 27:6 33:6 39:10
notice 22:21 26:4,4,9,12,1 9 27:3,3,4,5
27:7,10,11,15,17,22,2 5 28:4,9,24
29:6 30:10 31:24 32:18 34:16 36:19
37:19,24 38:1 40:8 43:5,11 44:4
46:24 47:9,14,16,2 3 48:15 49:11
53:13,14,20 54:6,7,9,10 55:11,13
notices 12:21 20:23 28:3 43:21 50:20
51:11 53:12 54:25 55:1,17,18
notion 49:2
notwithstanding 34:24 41:3 48:23
Now's 15:22
number 21:12 22:17 26:2
numerous 42:2
NY 2:4,9,13,18
N.E 3:21
N.Y 3:21
O
obligated 20:1 32:20
obligates 25:14
obligation 11:14 13:10 16:10,16,25
17:2 18:8,9 23:23 27:17 34:9 38:18
38:24,25 42:23 44:6,8 45:23 50:8
55:17,25 56:10
obligations 11:5,18 12:14 13:22,23
18:21 19:10,24 34:1,20 35:14 37:2
38:17 43:13 44:25 49:8 56:2
obtain 42:18
obviously 10:22 23:8 25:10 28:2
occur 27:17
occurrence 27:18
October 39:23
odd 40:22 41:8
off 49:15 55:5
office 4:22
OFFICER 5:9
official 3:6 31:13 57:7
Okay 4:25 9:3 10:3,7,24 11:25 12:9
30:4 50:11 52:19,21
once 11:21 31:23
one 8:7,24 10:3 13:19 14:24 15:2,7
18:12,19 19:6 22:10,10 25:24 26:2
28:6 29:15,17 31:17,22 35:12 36:18
37:21 38:5,7 39:24 40:8 41:17
42:17 43:22 44:24 46:19 48:11 50:7
50:15,16 51:14 52:23 53:2,7,20
54:23 55:11
ones 23:7
only 12:22 17:11 21:23 22:10,14 26:2
29:18 37:16 42:23 47:4 55:16
operational 30:2
opinion 9:6 23:17 32:4 39:25
opportunity 15:23 16:7 21:3 25:18
38:16
opposed 8:11 23:2 27:10
opposition 13:15 14:2 40:20 43:17
optimistically 35:22
oral 1:9 25:21 33:5,15
oranges 20:5
order 19:20,21 25:20 36:2 40:17 42:18
49:7 50:2
other 4:14 5:4 8:7 9:6 10:21 12:10
14:20,22,25 17:9,12,17 18:2 19:3,4
20:12 22:3 23:5 25:24 26:2 27:13
29:19 32:8 33:9 39:4 40:25 41:6,17
42:3 43:23 44:11 45:6,10,12 46:20
49:21 53:7,20 54:16
others 6:10 23:7
otherwise 9:4 26:11
ought 9:10
out 11:4,18 17:18 20:25 23:5,20 24:10
25:5,18 26:22 28:13 32:5 33:16
36:21 38:22 40:17 47:10 52:11
outside 18:23 28:7 29:3 30:21 31:25
32:2,2
outstanding 22:25 24:5,17
out-of-pocket 14:25 15:1
over 9:23 13:24 15:19 20:15,19 21:9
25:5 28:15
overall 10:8
overcome 25:10
overly 35:21
owed 17:5,6
own 4:19 26:16 32:20
o'clock 4:24
O'Melveny 2:8 6:1 7:13 33:18
P
Paccione 2:17 6:7,7,12,12
page 3:15,20 23:25,25 47:13 52:8
Pages 1:7
paid 50:25
Palenchar 1:21
paltry 51:1
paper 40:25 53:25 54:2
papers 13:15 15:8 23:6,11 26:10,22
27:9 29:2 33:5,19
paragraph 28:8 36:6,24 37:1 40:7
41:3 43:8 44:22 47:13 51:9,12
54:14,17,18 55:16,24
paragraphs 37:9
Park 2:13
parse 44:1
part 4:20 10:8 18:21,22 20:23 30:13
May 7, 2010
46:3,13 52:25
participated 10:25
particular 9:16 22:21
particularly 25:19 34:6 45:19
parties 8:7 9:22 11:19 14:21 15:2
18:14 24:4 27:9,14,21 48:18
partner 5:15
party 8:8 13:24 16:1 36:8 45:7
payment 40:3
people 16:18,18,24 32:7 54:4
perform 52:2
performance 17:6
performing 48:24
Perhaps 36:23
peril 38:10
permit 13:5 39:21
permitted 19:16 44:4 47:2,10,17
person 24:10 52:24
pertain 12:11
pertains 11:13
phase 19:19
phone 5:4
phrase 36:13
PH.D 1:20
pick 5:4
place 7:14 8:9 50:24
places 22:3 35:19
plainly 37:15
plaintiff 38:13
plaintiffs 1:14 4:2,9,13 5:15,19 9:7
12:1,13 13:21 14:2,14 18:16 19:14
26:14,15 29:12,15,19 35:11 37:23
37:25 38:2 41:20 43:17 48:17 49:19
played 35:15
PLC 2:3,17
plead 44:11 49:9 51:21,22
pleaded 52:6,8
pleading 32:22 50:12 51:16
pleadings 26:16 28:7,17 32:2,16
please 4:7 5:5,10,12 6:19,24 40:4
pled 31:8 50:17,18 51:8,15
plural 22:18,19 24:20
point 12:15 15:7 16:1,8,15 17:6,9,20
19:8 24:10 25:4,18,24 28:6 33:4
36:21 39:14 41:17 55:23
pointed 20:25 26:23 27:8
points 6:22 21:5 25:20 35:23 51:24
portion 18:12 30:3
position 30:1,6,16,19,2 2 31:3 34:2,3
38:13 39:2 40:2 50:11
positions 25:19 50:23
possession 47:1
posting 29:6
power 52:7
precedent 37:1,7,13 43:1 44:21 45:2,2
45:13,17,22 47:19 54:23
precisely 10:16
predecessors 29:14 30:15 37:24,25
38:2,14
predecessor's 39:11
prejudices 39:6
premise 16:17 18:1
presented 36:8 41:1
presumably 18:25
prevent 38:24
prevents 38:25
previously 24:23 33:2 42:20
prior 25:20 37:6 38:4,6
probably 19:2
problem 52:25
problems 47:25
procedural 7:8
procedure 28:15 31:2
procedures 42:11
proceed 31:4
proceeding 7:4 9:25
proceedings 5:8 30:14 56:19 57:3
proceeds 22:20,24 25:7 37:3,5,11 45:3
45:5 55:6
process 19:8 31:3 37:12 41:21 46:6,6
processing 36:16
professionals 29:5
project 10:8 19:19,20,20,2 2 38:11,23
40:12 41:7 45:7,11 49:1
projects 45:11
promise 8:23 12:22,23 13:20,20 16:2
20:6,8,9
promises 8:23 11:5 12:14 13:12,15,17
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 62 of 63
62
13:17 14:1 18:12
proper 30:16 36:8 43:15,15
properly 21:22 36:3 49:12
proposed 27:20
proposition 26:24
protect 30:19
protected 7:24 35:4 40:24 48:22
proven 31:16
provide 39:25 54:6,10
provided 12:24 13:1 14:7 42:19,23
provides 7:19 13:12 34:20,24 35:3,5
41:22 42:17,17 55:12
providing 27:3
provision 7:19 13:2,4 14:6 20:18
48:10
provisions 11:22 14:17,20,23 15:4
27:2,13 35:6,17 37:21 42:15
pure 8:10 9:1
purely 9:17
purposes 12:9 47:4
pursuant 43:6 55:7
put 37:19,24,25
p.m 5:6,8 56:19
Q
quarrel 44:10
question 6:25 7:5,12 8:13 10:4,7,12,13
10:13 12:6,12 20:24 46:7 53:13
questions 22:8 23:9
quick 36:9 40:9
quickly 32:15 34:18
R
R 57:1
raise 8:15
raised 15:20
ratable 15:10
rather 5:2 6:23 7:11 8:5 22:12 35:5
40:4
RE 1:4
read 35:12 36:25 38:17 39:18 43:17
43:18 44:15,20 45:2 47:12 49:2
53:6,10
reading 22:19 33:1 51:16 56:6
real 36:11
really 7:16 8:2 9:14,17 10:1 11:10
20:4 22:9,10 26:1
Realtime 3:7 57:7
Reaping 3:21
reargue 21:9
reason 15:16 19:6 31:10 53:16,22 54:3
reasonable 18:24 24:10 32:4,13 36:7
36:13 37:12 40:25
reasoning 23:15 24:9
reasons 26:20 28:11 53:2
receive 54:9
received 22:20 36:19 40:8 47:14 53:14
receives 35:5 45:23 48:23
recess 5:6,7
recognize 42:9
recognized 15:11 31:16
record 29:3,16 30:21 32:19,22 37:23
41:23,25 46:4
refer 27:12,16
reference 28:8 29:1
references 21:24 22:3
referred 27:19
referring 11:12 40:24
refers 41:17
reflect 18:21
reflects 15:8
refusal 12:20
refused 28:11
regard 26:18
rehashing 21:15
reimburse 15:1
rejected 22:2
relate 14:23
relates 25:19 38:6 46:16
relating 15:4 26:6 27:24,25 28:2
relationships 11:2
relatively 39:20
release 34:17
relevant 27:2 43:12
reliance 15:3 17:25 32:21 35:24
relied 14:15
relies 14:25
relieved 19:9
rely 14:18 35:1 36:3 40:12 41:14,19
47:17 49:1
relying 14:22
remainder 25:20
remaining 25:21
remarkable 48:17
remember 10:16
removed 30:10 32:25
renewed 29:6
repaid 19:1 25:6
repay 13:13,20 18:22 22:25 24:17
25:3
repayment 18:9
reply 23:6,21 25:1 40:19 43:24 47:12
report 40:4
REPORTED 3:6
Reporter 3:6,7 57:7,7
Reporter's 3:16
represent 11:23
representation 46:10,11,14
representations 42:2
reps 40:5
request 28:13 30:11 32:18,23,24
34:10 35:1 41:23,23,24 42:18,20,21
49:6 51:3 54:20
requested 23:2 30:3
requesting 8:18
requests 34:8 36:17 40:6 43:20 44:2
48:25 50:20 51:10 53:12 54:19,22
55:7,18 56:1,8
require 27:10
required 19:16,16,18 27:24 34:14,15
34:21 36:1 37:11 39:19 41:4 42:4
42:22 44:25
requirements 7:1
requires 14:3 36:5,25 42:2
requiring 36:13
residential 45:7
resolved 39:6
respect 18:24 32:9 34:8,22 35:7,8
37:17 42:6 44:1 45:21 51:11 53:12
respond 25:3,12
responding 40:19
response 12:20 18:5 20:3 22:21 32:23
responses 6:23 28:12
responsibilities 11:14 35:18,20 36:24
40:13 52:3,6,9 55:9,10
responsibility 37:10 39:15 42:7 45:21
responsible 38:21 51:2
rest 16:4 24:9 44:22 45:15,19
Restatement 16:20
result 7:24 14:4 28:1
resume 5:8
retail 10:21 40:3
reviews 42:21
revolver 15:14 30:11
revolvers 12:19,20,21,2 4 13:1,3,6 14:7
14:10,10 15:17 20:14 23:16 28:18
revolving 14:15,16 19:9 20:9,11 22:25
24:5,17 26:8 29:10 32:24 52:20,21
53:1
rewrite 17:14
rfracasso@shutts -law.com 2:24
rhetorical 33:23
Rice 2:2 4:15,15,25 5:22,22 10:17
11:7 14:13,14 21:8,8 24:13 25:12
25:23,23 26:1 28:22 29:9,14 30:8
32:15 33:6
ridiculous 54:3
right 4:6,14 6:18 7:17 8:4,25 9:7,15,16
10:2 13:3,25 16:5,11 17:2,22,24
18:1,3 20:6,8,13,2 0 23:10 24:25
25:17 30:18 33:3,12 42:14 53:13
56:12
rights 8:6,14 10:19 16:18,24 39:12
42:12
rise 5:9 27:7
risk 15:16 19:5,10
risks 15:9
Robert 2:21 6:14
role 55:15
roles 35:15 48:8,9 51:20
room 12:15 21:11
Rosenman 2:17 6:8,12
routine 47:6
Royal 2:4 4:17 5:24
RPR-CM -NSC-FCRR 3:6 57:6
Rubinstein 2:12 6:4,5
ruled 21:12
rules 7:20 51:16
S
S 1:9,21 2:3,22 3:2
safe 39:20
same 7:14 8:8 23:25 43:10 51:11
52:24
Samuel 3:1 6:16
sanctity 38:22
satisfaction 35:2 37:6 42:4 45:1 47:18
satisfied 37:14 43:2,2,4 44:22 45:18
45:22,25
saw 39:11
saying 17:16 22:12 30:5 32:7 39:2
47:6 53:21,24 54:7
says 16:9 22:13,17,18,2 4 24:19 25:5
29:6 32:20 36:4 41:4 42:25 43:4,9
44:25 47:23 53:1 54:18
scheduled 43:9
Scholer 2:12 6:5
scope 28:7
Scotland 2:4,17 4:18 5:24 6:8,13
Scott 1:21
seated 4:6 5:5,10,11
second 7:4 16:21 26:4 32:17,23 37:3,4
41:10 45:4 47:13
seconds 55:21
Section 13:8 16:9 27:3 37:7,21
security 5:9 10:22
see 9:1,1 11:13 40:4 42:1,15 43:18
55:4
seeks 33:25
seem 48:17
seems 7:10 9:9
send 34:16
sends 53:20
sense 8:3,11,12,1 2 24:15 25:15 31:20
sent 47:24 48:2,2,12
sentence 44:20 55:3
separate 13:10,12,19,19,2 0 17:10
18:12,18,21
separately 30:19 31:5
September 39:22 40:3 54:19
sequential 15:12 19:5
serious 11:12
set 4:23 16:18 18:17 25:5 27:18 36:15
37:7 42:10 43:1 44:21 45:16,17,22
setting 43:6
sever 17:24
severable 38:16
several 13:10 18:8,9 27:13 36:20
40:17 47:25
severally 22:15
severance 16:5
severed 17:1,24 18:4 28:13
severing 17:2,6
sfitzgerald@stblaw.com 2:6
share 15:9
Sheldon 3:1 6:16,16
shift 15:19
shore 20:17
short 5:6
should've 42:13
show 14:21 24:12 26:14 31:21 32:3
shown 17:7
shows 15:15 16:15 27:9
Shutts 2:22 6:14
side 8:18 9:5,7 12:15 19:25 29:19
33:10 39:11,11 50:2,13
signed 36:3,7,9 41:1
significant 42:5
significantly 35:16 36:23
similar 27:24
similarly 22:3 23:6
simply 25:4
Simpson 2:3 4:16 5:23
since 6:10 7:18 11:12 12:14 38:15
sincere 36:11
single 24:14
singular 22:18,18 24:20
sir 4:5 5:16
sit 10:15 42:13
situation 31:18
situations 39:3
skip 9:10 36:6
May 7, 2010
slowly 37:1
sole 34:9
some 9:19 11:25 15:16 17:17 18:16
19:7 29:10,15,18 32:13 35:19 37:9
39:10,24 42:10 43:23 49:2 54:4
56:16
somebody 48:19
somehow 14:14 15:8
someone 17:23 54:1,1
something 8:17 9:6 12:2 15:24 16:12
16:13 20:7 21:5 31:15 39:7,13,16
43:22 49:5 50:12 52:10
sometimes 38:20 44:19
sorry 6:9 27:8 41:15 54:15
sort 31:18 44:17
sounds 42:14 54:4
South 1:16
SOUTHERN 1:1
speak 4:7 5:11 6:9 49:24
speaking 44:20
special 38:19
specific 11:17 12:6 37:17,19 42:11,15
48:10 51:12
specifically 18:2,3 19:22 34:20,24
35:3 36:15 41:21 47:23 48:18 51:10
specificity 27:14,24 28:4
specified 36:19
specious 22:16 23:15
spelled 11:4
spelling 17:18
spent 52:10
spoke 11:20
spoken 44:19
Square 2:9,9
ssheldon@mwe.com 3:3
stage 17:15 48:6 50:12
stand 50:8
standing 6:24 7:1,5,16,22,22,23,25
8:3,11,16,2 1 9:8,14,21
start 5:10,20 6:19,24
state 7:5,11 8:20 9:1,9 20:22 29:23
35:9 51:17
stated 32:17
statement 12:4,5 16:3 31:7,9 46:13
states 1:1,10 3:6 13:9 48:11 57:7
stating 27:19 39:3
stay 4:6 5:5,11
Ste 2:22
steering 29:8,9,25 30:6
step 39:21
steps 9:10 40:10 43:16
Steve 1:20 4:11,16 5:22
Steven 2:3 5:18
steven.nachtwey@bartlit-beck.com
1:24
still 18:20 40:12
stop 23:5 43:21 44:3 50:20 51:11
53:12 54:7 55:1,17
Street 1:16,22
strong 25:9
structure 15:12 19:5
struggling 50:1,6
stuff 32:1
subject 31:6 37:6 39:12,16 53:3
submissions 21:7
submit 41:22 42:18,19 49:6
submitted 34:10,23
substance 20:19
substantive 7:8
sue 8:24 12:18 13:5 20:13,13
sued 26:5
sufficient 19:19,21 33:9 44:15
sufficiently 8:14 21:2 28:16 51:15
suggest 27:6 35:19
suggested 23:16 24:23
suggestion 15:7
suggests 9:4
Suite 1:16 3:2,7 57:8
sum 51:1
Sumitomo 2:21 6:15
summary 21:17 50:13
summer 15:11
supportable 12:7
supported 29:21
supportive 32:25
supports 21:25
supposed 27:6 39:19 42:8 54:5
sure 7:14 11:21 12:17 15:20 18:6
Case 1:10-cv-20236-ASG Document 62 Entered on FLSD Docket 02/22/2011 Page 63 of 63
63
28:16 34:9 39:4 40:11 50:15 51:5
54:15
surprise 11:20
susceptible 32:4
swiftly 44:19
swing 14:24
syndicate 30:24
T
T 57:1,1
table 3:14 5:21 8:18 9:5 29:19 49:23
take 13:7 14:16 23:14 27:20 31:17
32:5 53:10 56:15
taken 5:6 11:11 34:7 40:10 45:8,11
taking 51:7
talismanic 18:17
talk 14:17
talking 8:1,15 10:24 22:14,20 27:4
30:14 35:20 43:13
talks 27:3 51:9
technical 49:15
telephone 6:10
tell 9:4 52:10
telling 4:23 32:9
tells 30:25
ten 55:21
tend 35:17
term 6:20 8:14,24 9:14 12:18,23,23,25
13:2,5,14 14:5,18,18 15:4,7,14,15
17:8,10,12 19:7,25 20:22 21:2,10
21:19,21 22:12,13,21,2 5 23:15,18
23:18,24 24:3,6,14,1 5 25:8,10
28:13,14,18 29:10,18 30:5 31:5,10
32:9,10,14 33:13,20 37:19 38:4
40:9
terminated 27:5
terminating 27:4
termination 26:9,12,19,2 1 27:7,11
terms 6:25 7:2 11:18 13:9,19 15:5
24:19,21 27:14,22 30:12 32:3 33:7
33:24 38:13 44:16
test 19:15
testimony 30:23,23 31:6
Thacher 2:3 4:16 5:23
Thank 4:10,14 5:5,13,16,20,2 2 6:18
33:11,12,17 40:15 56:12,14,18
their 4:19 9:20 13:14 14:2 15:17 18:24
19:9 20:14 22:1,23 25:18 26:9,16
26:18 28:19 29:20 30:3,24 31:23
32:8 37:23,25 38:25 50:13 52:16
53:10 55:14
theirs 17:11
thereto 27:20 42:22
thing 25:6 31:20 47:6
things 11:9 29:5 39:24 42:3
think 5:3 7:22 8:2 9:13,19,21,2 4 10:18
10:23 11:8 15:10 16:16 18:6 19:24
20:18 21:16,25 22:1,9,10 23:5,6
24:21 25:14,17 26:2 27:2 29:2 30:9
31:25 32:9,25 37:15 38:5 40:9
44:19 51:25 54:4
third 28:9 30:10 51:13
THOM AS 2:2
though 10:18 21:13,25
thought 4:23 9:12 11:25
three 4:23 22:7 55:8
through 6:21 7:10,15 20:25 22:6
25:18 26:16 32:6 33:18 44:1 54:20
56:16
throughout 52:6
tightly 38:7
time 26:3 30:21 33:9 36:16 37:11 38:8
40:20 52:11 56:15
Times 2:9,9
titled 13:8
today 10:16 56:13
together 18:19 19:24 34:8
told 52:15 54:1
Tom 4:15 5:22 14:13 21:8 25:23
totally 23:6 55:15
Tower 2:9
transaction 15:9 31:15 42:9 48:9
transactions 45:8
TRANSCRIPT 1:9
transcription 57:3
trice@stblaw.com 2:5
true 47:9
truly 38:14
trusted 36:12
trustee 37:2,3
truth 51:11
try 21:13 40:16,16 48:8 51:21
trying 28:7 46:8 52:11
turn 19:23 21:4 33:12,25 34:17
Turnberry 45:7
twice 21:16
two 12:3 14:23 18:14 32:7 39:3,22
44:1 49:16,23
types 7:22
typical 9:21
U
ultimately 7:2,5 9:9
unable 13:22
unambiguous 32:7 33:1,24 44:16
unanimously 29:21
uncontroversial 16:3
under 7:17,24 8:4,14 10:2,4,21 12:12
14:8 16:6 17:3,7 19:16 24:7 34:12
39:9 41:21 42:21,24 43:14 44:3,6,8
44:11 47:15 51:7 54:21,23 56:2
understand 9:11 38:13 49:14 50:11
52:15,22
understanding 4:25 7:3 28:10
understood 10:1 28:16
unfair 31:10
United 1:1,10 3:6 57:7
unless 18:2,3 20:6
unreasonable 32:8,8
until 5:3 15:14 25:6 28:12 30:10 32:24
38:23 39:6
use 7:21 18:15 23:14
used 21:25 22:4 24:6,6
uses 23:17
uttered 18:17
U.S 57:8
V
v 3:21
valid 31:24
various 6:22 11:19 12:14 25:18
VEGAS 1:5
venture 18:23
veracity 34:22 41:5
verify 41:7
versus 7:8
very 14:13 20:18 24:13 25:4 31:12
32:15 34:18 36:15 37:15 42:8,11
52:3 55:23 56:18
view 24:11 32:8
Vince 4:12
Vincent 1:21 5:18
virtue 43:3
vis-à-vis 10:19 19:3
W
wait 5:3 55:19
Walter 3:21
want 9:5 14:12 15:19,24 17:22,23
18:23 21:6 23:10,11 25:1 33:8,20
49:2 51:21 52:7 54:8 56:9
wanted 7:21 15:21 17:13 26:3 28:15
50:17
wants 19:12
warranties 42:2
wasn't 28:12 31:23
watchdog 34:4
way 9:20,25 11:13 18:2 20:11,19
24:16 25:15 38:17 39:5,18 41:17
42:7 45:16 46:20 54:11
weekend 56:17
welcome 6:18
well 8:13 9:19 11:11 18:15 23:8 26:10
28:20 29:11 31:21,22 32:22 36:9
37:8,22 38:6 39:17,18 46:12 47:25
48:5,7 50:1 51:22 52:25 53:1 54:15
went 18:25 32:6 35:12 49:10
were 4:19 12:6 15:15 17:15 18:12,25
19:1,25 20:1 26:5,21 28:11 29:15
30:5 34:12,13 35:20 37:16,18,18,24
38:3,15 39:19 40:6 42:12,12,16
43:16 47:1,6,23 48:2,2,20 49:19,21
49:23 51:5 52:4,17,18,20,2 1 53:2
weren't
15:13,17 17:16,17
West 1:22
we'll 5:4 44:12
we're 4:16 9:22,24 29:6,6 30:18 31:4
31:25 32:1 37:16 43:13 44:13 50:8
54:7,12
we've 9:20 21:9 23:5 24:22 26:22
29:22 33:8 50:7
whichever 38:9
while 18:15 33:23
whole 31:19 45:8,11
Wilkie 57:8
wish 16:6 33:15
withdrawn 26:14
Wood 3:21
word 40:21 41:8
words 16:5,9,17 17:20 18:7,13,15,17
22:4 45:12 52:8 53:10 55:22
work 5:21 23:17 24:9 42:8 56:15,16
works 52:14
worst 25:8
wouldn't 12:3 19:3 39:1 46:12
would've 16:6
wrap 54:12
written 17:25 53:10
wrong 43:20 47:22
wrongly 51:2
Y
Yeah 15:24 54:14
years 13:24 20:15
York 2:4,9,13,18 7:2,6,19 10:4 12:12
13:23 16:8,19 17:4,8,19
$
$656 28:25
$670 28:24
0
08 39:23
09-2106 4:1
09-2106-MDL-GOLD 1:3
1
1 1:7 21:12 22:17
1.2 24:18
1.2.B 22:17
1.2.D 24:18 25:13
10017 2:4
10022 2:13,18
10036 2:9
11-1 1:4 3:7 57:8
110 13:24 20:15
12 23:25
129 40:7
1500 2:22
152 55:24
154 54:14
176 51:9 54:17,18 55:16
1897 3:21
2
2 13:8 28:23
2d 16:9,20
2nd 20:23 28:9
2.B.3 21:22 22:12,19,24 24:15
2.1 13:9 14:17
2.1.B.1 24:6
2.1.B.3 23:17
2.17 27:25
2.4 28:3 42:17
2.4.4 34:7 42:16,21,24 44:1 45: 19
2.4.6 42:25 44:2,18 45:17 55:12
2.5 14:19
2.5.1 44:3 54:5
2.6 28:3
2.7.A 13:11
2.8.A 13:11
20 26:20
20 th 26:12
2008 54:20
2009 12:21 23:17 32:6
201 2:22 3:2
2010 1:6
21 26:19
21 st 26:4
May 7, 2010
212.408.2483
212.445.3040
212.455.2502
212.836.8000
212.836.8689
212.894.5502
212.940.8502
213.694.1200
213.694.1234
22 16:8,19
2200 3:2
25 54:20
260 16:9
2900 1:16
297 16:21
2:9
2:4
2:5
2:13
2:14
2:19
2:18
1:17
1:17
3
3 7:23 8:4,10,12,16,2 1 9:1 28:25 32:18
37:21 43:1 44:21,24,24 45:18,22
47:13
rd
3 20:23
3.1 14:19
3.3 34:12 36:24 37:7,13 42:6 54:24
3.3.21 45:2
3:07 5:6
3:15 4:23 5:1,3
3:17 5:8
305.347.6500 3:3
305.358.3500 3:2
305.358.6300 2:23
305.381.9982 2:23
305.523.5588 3:8 57:9
305.523.5589 3:8 57:9
312.494.4425 1:22
312.494.4440 1:23
33128 3:8 57:9
33131 2:23 3:2
35 33:14
36 6:21
4
4th 29:1
4:41 56:19
400 3:7 57:8
405 9:3
425 2:4,13
45 33:8
46 3:21
5
5.1 27:24
5/7/10 56:19
54 1:22
57 3:16
575 2:18
6
6.7 27:16
6.8 28:1
60654 1:22
68 28:8
7
7 1:6
8
8 27:3
8.D.2 27:9
865 1:16
9
9 3:21
9.3.2 34:7,18 35:23,23 36:5 40:23
45:19 48:21
90017 1:17
952 3:21
964 9:4
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 1 of 32
1
1
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
MIAMI DIVISION
2
3
Case 09-2106-MDL-GOLD
4
IN RE:
5
6
FONTAINEBLEAU LAS VEGAS HOLDINGS, LLC,
et al.,
7
Debtors.
8
9
10
FONTAINEBLEAU LAS VEGAS
HOLDINGS, LLC, et al.,
COURTROOM 11-1
Plaintiffs,
11
MIAMI, FLORIDA
vs.
12
JANUARY 7, 2011
BANK OF AMERICA, N.A., et al.,
13
14
15
16
17
18
(Pages 1 - 32)
Defendants.
__________________________________________________________________
TRANSCRIPT OF ORAL ARGUMENT
BEFORE THE HONORABLE ALAN S. GOLD
UNITED STATES DISTRICT JUDGE
__________________________________________________________________
APPEARANCES:
KIRK DILLMAN, ESQ.
Hennigan Bennett & Dorman LLP
865 S. Figuerora Street, Suite 2900
Los Angeles, CA 90017
213.694.1200
19
20
21
BRETT AMRON, ESQ.
Bast Amron, LLP
One Southeast Third Avenue, Suite 1440
Miami, FL 33131
305.379.7904
22
23
24
25
TOTAL ACCESS
NETWORK COURTROOM REALTIME TRANSCRIPTION
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 2 of 32
2
1
DANIEL CANTOR, ESQ.
O'Melveny & Myers, LLP
Times Square Tower
7 Times Square
New York, NY 10036
2
3
212.326.2000
4
5
CRAIG RASILE, ESQ.
Hunton & Williams
1111 Brickell Avenue, Suite 2500
Miami, FL 33131
305.810.2500
6
7
8
DAVID WOLL, ESQ.
Simpson Thacher & Bartlett, LLP
425 Lexington Avenue
New York, NY 10017
10
212.455.3040
AARON RUBINSTEIN, ESQ.
Kaye Scholer, LLP
425 Park Avenue
New York, NY 10022
9
212.836.8000
11
12
13
14
15
STEVEN MAHER, ESQ.
Shutts & Bowen
201 S. Biscayne Boulevard, Suite 1500
Miami, FL 33131
305.358.6300
16
17
18
19
20
21
22
REPORTED BY:
JOSEPH A. MILLIKAN, RPR-CM-NSC-FCRR
Official United States Court Reporter
Federally Certified Realtime Reporter
400 North Miami Avenue, Suite 11-1
Miami, FL 33128
305.523.5588
(Fax) 305.523.5589
jamillikan@aol.com
23
24
25
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 3 of 32
3
1
TABLE OF CONTENTS
2
Page
3
Reporter's Certificate ...................................... 32
4
5
6
CITATIONS
7
Page
8
Lloyd Noland Foundation, Inc. versus Tenet Health
Care, 483 F.3d 773 .......................................... 17
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 4 of 32
Oral Argument
4
All rise.
The Honorable
09:59:12
1
09:59:15
2
09:59:18
3
THE COURT:
09:59:41
4
May I have appearances this morning on Case 09-2106.
09:59:46
5
MR. DILLMAN:
09:59:49
6
for the Nevada term lenders.
09:59:50
7
MR. AMRON:
09:59:53
8
behalf of plaintiffs ACP Master, Ltd. and Aurelius Capital
09:59:58
9
Master, Ltd.
09:59:58
10
THE COURT:
10:00:00
11
MR. CANTOR:
10:00:03
12
O'Melveny & Myers, on behalf of Bank of America, N.A. and
10:00:07
13
Merrill Lynch Capital Corp.
10:00:10
14
MR. RASILE:
10:00:12
15
Hunton & Williams, also co-counsel with Mr. Cantor for Bank of
10:00:14
16
America, N.A. and Merrill Lynch.
10:00:20
17
10:00:23
18
Simpson Thacher & Bartlett, for J. P. Morgan Chase Bank,
10:00:23
19
Barclays, Royal Bank of Scotland and Deutsche Bank.
10:00:25
20
THE COURT:
10:00:25
21
MR. RUBINSTEIN:
10:00:27
22
10:00:35
23
10:00:36
24
10:00:40
25
THE COURTROOM DEPUTY:
Alan S. Gold presiding.
MR. WOLL:
This Court is in session.
Good morning, everyone.
Please be seated.
Good morning, Your Honor.
Good morning, Your Honor.
All right.
Brett Amron on
Thank you.
Good morning, Your Honor.
Good morning, Your Honor.
Good morning, Your Honor.
All right.
Kirk Dillman
Dan Cantor,
Craig Rasile of
David Woll from
Thank you.
Good morning, Your Honor.
Aaron
Rubinstein from Kaye Scholer on behalf of HSH Nordbank.
MR. MAHER:
Your Honor, Steven Maher from Shutts &
Bowen here for Sumitomo Mitsui Banking Corporation.
THE COURT:
Give me a moment.
January 7, 2011
There are some who are
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 5 of 32
Oral Argument
5
10:00:44
1
joining us by telephone but will not be participating through
10:01:01
2
appearances.
10:01:06
3
10:01:09
4
joined us.
10:01:14
5
have had appearances from counsel here in court.
10:01:19
6
10:01:23
7
joint motion for partial final judgment.
10:01:32
8
start our discussions:
10:01:42
9
benefit of arguing on the issue which directly concerns you that
10:01:50
10
10:01:58
11
10:02:00
12
10:02:04
13
10:02:07
14
will be permitted to file an amicus brief -- it is discretionary
10:02:11
15
with the appellate court -- and there is even less guarantee
10:02:14
16
that we would be permitted to argue.
10:02:18
17
even if those things were granted, an amicus simply doesn't have
10:02:24
18
the same standing as a party to an appeal.
10:02:27
19
10:02:32
20
argue, then there really isn't any reason for delay in terms of
10:02:37
21
a 54(b) certification.
10:02:42
22
we are going to be arguing and presenting our opinions to the
10:02:45
23
Court, that everyone who is there, all arguments will be aired
10:02:50
24
and there will be no reason not to have that be final and
10:02:53
25
binding upon us.
All right.
Thank you.
Good morning to those who have
I'm not going to take appearances over the phone.
I
We are here this morning on the plaintiff term lenders'
So let me ask as we
Why would you not have the same type of
the trustee has already filed by way of filing amicus briefs?
MR. DILLMAN:
lenders.
Your Honor, Kirk Dillman for the term
I will be arguing on behalf of the term lenders today.
A couple of things:
One, there is no guarantee that we
The reality, however, is
But if we were permitted to file an amicus brief and
If we are going to be there anyway, if
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 6 of 32
Oral Argument
6
10:02:55
1
It is one of the benefits.
10:02:59
2
of an MDL proceeding, to have a situation where all parties may
10:03:03
3
air their views on the same issues before one Court at one time
10:03:08
4
and hopefully get a final decision, so that is what we would
10:03:12
5
hope for.
10:03:12
6
10:03:15
7
primary ground had to do with standing, to make the argument, if
10:03:23
8
you go 54(b), doesn't the Eleventh Circuit have to address that
10:03:27
9
issue before letting you argue on the merits on the
10:03:35
10
10:03:36
11
10:03:38
12
first answer, the short answer, is no, I don't believe so.
10:03:40
13
Court can reach the conclusion on the fully drawn -- which it
10:03:44
14
will have to reach no matter what, and if the Court agrees with
10:03:48
15
this Court, that the failure to fund claims in our case were
10:03:51
16
properly dismissed, the summary judgment was properly denied in
10:03:55
17
the trustee's case, then the standing issue will never have to
10:04:03
18
be reached.
10:04:04
19
10:04:09
20
efficiencies compelling and would, in fact, sequence their
10:04:12
21
deliberations in that manner.
10:04:15
22
10:04:19
23
the fully drawn question that would not already be covered by
10:04:23
24
the trustee and also any amicus brief that you file, assuming
10:04:28
25
that you are permitted to do so?
THE COURT:
It is the primary benefit
But let me ask you this:
Because the
interpretation question?
MR. DILLMAN:
Your Honor, a couple of things.
The
The
We suspect that the Eleventh Circuit would find those
THE COURT:
What arguments would you envision making on
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 7 of 32
Oral Argument
7
Well, Your Honor, if we are permitted to
10:04:30
1
10:04:32
2
file an amicus brief, we would make the arguments that we would
10:04:36
3
make if we were an appellant, so we wouldn't be making any new
10:04:40
4
or different arguments as an appellant.
10:04:41
5
As I say as an appellant we have the virtue of having
10:04:46
6
full standing to be there and also we have the finality of the
10:04:51
7
decision.
10:04:51
8
One thing that I should point out, Your Honor, is --
10:04:55
9
THE COURT:
10:05:01
10
if you go 54(b) instead of amicus, you might have the
10:05:05
11
opportunity to stand up and make some additional oral argument?
10:05:09
12
10:05:16
13
were permitted to argue, we would have the same opportunity to
10:05:20
14
present to the Court; however, what we would not have is the
10:05:26
15
finality.
10:05:32
16
upon the Ninth and the Second Circuits these same issues.
10:05:36
17
10:05:38
18
an important point that at least wasn't expressly made in our
10:05:43
19
papers.
10:05:43
20
10:05:49
21
appellate and we do not have finality, what is going to happen?
10:05:53
22
At the end of this case, those issues will then be determined by
10:06:00
23
the Court, by the jurisdiction in which the matter then resides.
10:06:04
24
10:06:09
25
MR. DILLMAN:
MR. DILLMAN:
Is the real difference and practical effect
If we went 54(b) as opposed to amicus and
We would not have the standing and we would impose
Let me pause there for a moment because I think this is
If the trustee's motion is brought without us as an
These matters will be remanded to their home districts
upon the conclusion of pretrial proceedings.
January 7, 2011
When they are, we
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 8 of 32
Oral Argument
8
10:06:16
1
will go back to Nevada which is governed by the Ninth Circuit.
10:06:22
2
The ACP plaintiffs will go back to New York, governed
10:06:25
3
by the Second Circuit.
10:06:29
4
judgment and at that point, the appeal of these issues by the
10:06:33
5
term lenders will be had.
10:06:34
6
10:06:38
7
case; the Second Circuit will in the Aurelius case.
10:06:42
8
burdened two additional circuits with the exact same issues,
10:06:46
9
facts and parties that could now be, with a 54(b) certification,
10:06:52
10
10:06:53
11
10:06:57
12
has been delayed until sometime in February.
10:07:01
13
delayed because there is an ongoing mediation with the Eleventh
10:07:05
14
Circuit mediator.
10:07:10
15
We have been told that, pending this motion, we are respectfully
10:07:14
16
not invited.
10:07:15
17
10:07:21
18
therefore have the other salutary effect not only of not
10:07:24
19
imposing on additional districts these issues but on, perhaps,
10:07:29
20
promoting a global settlement of these issues.
10:07:32
21
THE COURT:
10:07:34
22
MR. DILLMAN:
10:07:36
23
except I have communications from the mediator to the effect
10:07:39
24
that we have been disinvited.
10:07:46
25
pending on other matters next week, and I believe the sort of
The trial will be held.
Who will hear that?
There will be a
The Ninth Circuit will in our
We have now
before the Eleventh Circuit.
I am told that the Eleventh Circuit briefing process
It has been
We have actually asked to be a part of that.
We think that the granting of 54(b) relief would
When is the mediation set?
Your Honor, I don't have that information
There is a mediation that is
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 9 of 32
Oral Argument
9
10:07:49
1
separate mediation or separate issues raised here, as far as I
10:07:53
2
know -- and counsel across the aisle can comment -- but as far
10:07:58
3
as I know, there hasn't been a date set for that continued
10:08:03
4
mediation.
10:08:03
5
10:08:04
6
moment and turn to the other side.
10:08:11
7
are raised with regard to any additional appeals to other
10:08:20
8
circuits and would it make sense if they are fully part of
10:08:28
9
global mediation with the 54(b) partial final judgment?
10:08:31
10
10:08:34
11
O'Melveny & Meyers.
10:08:36
12
THE COURT:
10:08:40
13
MR. CANTOR:
10:08:41
14
respectfully, and let me explain why not, certainly with respect
10:08:45
15
to the argument about involving the other circuits.
10:08:47
16
10:08:50
17
because if, in fact, this case ultimately gets resolved, the
10:08:54
18
disbursement agent agreement claims that are still remaining in
10:08:57
19
the case between Bank of America and the term lenders gets
10:09:00
20
resolved on summary judgment by Your Honor, that appeal would go
10:09:03
21
to the Eleventh Circuit.
10:09:03
22
So it is not even entirely clear that this case on an
10:09:07
23
appellate level would end up in either the Ninth or the Second
10:09:10
24
Circuit, but even if that were the case, Your Honor, quite
10:09:13
25
frankly, that makes it even more clear why 54(b) relief is
THE COURT:
MR. CANTOR:
Let me interrupt your presentation for a
What about these points that
Thank you, Your Honor.
Dan Cantor from
Doesn't that make some sense?
It actually does not, Your Honor,
As an initial matter, it is a speculative argument
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 10 of 32
Oral Argument
10
10:09:18
1
inappropriate because there is going to be an appeal at the end
10:09:21
2
of the litigation between the term lenders and Bank of America.
10:09:25
3
10:09:27
4
anywhere close to this litigation knows that one side or the
10:09:30
5
other will be appealing the ultimate outcome of that case.
10:09:34
6
So if, in fact, that appeal is going to happen at all,
10:09:39
7
it makes far more sense -- and this is what the second sentence
10:09:44
8
of 54(b) is designed to accomplish -- and the basic policy of
10:09:48
9
not having piecemeal appeals is designed to avoid where you
10:09:53
10
would have a situation where the Ninth or the Second Circuit is
10:09:56
11
going to have to learn all about this case anyways.
10:09:59
12
shouldn't have them have to do it only for half the case.
10:10:03
13
10:10:05
14
of theoretical possibilities, inconsistent ruling among the
10:10:09
15
circuits?
10:10:10
16
10:10:13
17
situation that would be something that you would prefer to
10:10:15
18
avoid.
10:10:16
19
10:10:18
20
10:10:19
21
10:10:22
22
would suspect that although they would not be bound by any
10:10:25
23
determination by the Eleventh Circuit, they certainly would be
10:10:27
24
well influenced by the fact that a panel has already considered
10:10:31
25
these questions and ruled upon them.
I know that in my bones and anyone who has been
THE COURT:
MR. CANTOR:
You
What if you have, continuing our discussion
Obviously, Your Honor, that would be a
THE COURT:
Right, but that wouldn't benefit anybody,
MR. CANTOR:
It would not benefit anyone, although I
would it?
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 11 of 32
Oral Argument
11
10:10:34
1
But I think more fundamentally, Your Honor, what that
10:10:37
2
argument reveals is a basic misunderstanding by the term lenders
10:10:43
3
of what 54(b) is about.
10:10:48
4
this issue or this argument, rather, on an issue-by-issue basis.
10:10:52
5
The question is not how many appeals are there going to be on
10:10:56
6
the fully drawn issue.
10:11:00
7
there going to be in the case of term lenders versus revolving
10:11:06
8
lenders.
10:11:07
9
10:11:09
10
in that case and Rule 54(b), and all the Eleventh Circuit
10:11:13
11
authority on Rule 54(b) make it clear that if you are going to
10:11:18
12
have two separate appeals in a single case, one on an
10:11:22
13
interlocutory basis and one at the end of the case, that the
10:11:25
14
movant under 54(b) has to satisfy an extremely high burden in
10:11:30
15
order to justify that relief.
10:11:33
16
The Eleventh Circuit in the Eberhini case and in the
10:11:36
17
Vann case has made it clear that the circumstances justifying
10:11:40
18
54(b) relief are going to be encountered only rarely and that
10:11:45
19
District Courts are supposed to be conservative in ruling on
10:11:49
20
54(b) motions and that it is reserved for the unusual case where
10:11:52
21
there is a pressing need on the part of the movant.
10:11:58
22
Court called it the infrequent harsh case.
10:12:02
23
10:12:04
24
case, that couldn't be further from what the term lenders are
10:12:10
25
facing here.
It is not about -- you can't look at
The question is how many appeals are
The term lenders want there to be two different appeals
The Vann
Well, pressing need, unusual case, infrequent harsh
They are merely complaining about the
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 12 of 32
Oral Argument
12
10:12:11
1
inconvenience of the fact that there is another appeal that
10:12:15
2
raises an issue, but not all of the issues that would be raised
10:12:20
3
in their appeals, and that it is proceeding first.
10:12:24
4
10:12:28
5
May 28th ruling when it first came out.
10:12:31
6
reconsideration.
10:12:34
7
were perfectly fine with this case proceeding along the normal
10:12:38
8
path until the Fontainebleau trustee dismissed the rest of its
10:12:44
9
claims and got the right to immediately appeal the fully drawn
10:12:48
10
ruling.
10:12:52
11
appeal Your Honor's ruling.
10:12:53
12
10:12:58
13
as a result of the Fontainebleau trustee arguing this issue
10:13:01
14
before they get a chance to do so, that is not the kind of
10:13:05
15
hardship or prejudice or pressing need --
10:13:08
16
THE COURT:
10:13:12
17
technical if you don't mind.
10:13:13
18
MR. CANTOR:
10:13:15
19
THE COURT:
10:13:17
20
Circuit to have a choice, which really comes down to -- and I
10:13:23
21
will get back to that in a second -- of looking at these issues
10:13:29
22
with respect to both cases and also determine their standing?
10:13:34
23
MR. CANTOR:
10:13:36
24
THE COURT:
10:13:40
25
You know, they were content to not appeal Your Honor's
They didn't seek
They didn't move for 1292(b) relief.
They
That was when they suddenly decided that they needed to
But whatever it is that they feel that they will suffer
Let me talk more practical to you than
Okay.
Sure.
What would be the harm for the Eleventh
Well, that is the part, Your Honor, -What would be the harm to your side to tee
off all these issues and get one opinion on it?
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 13 of 32
Oral Argument
13
Well, among other things, Your Honor, the
10:13:45
1
10:13:48
2
issue of the credit agreement breach is one that could be mooted
10:13:54
3
by the proceedings that are going to happen on the disbursement
10:13:58
4
agreement claims that are going forward in Your Honor's court
10:14:01
5
simultaneously with the appeal that is going on at the Eleventh
10:14:03
6
Circuit.
10:14:04
7
10:14:09
8
first raised this issue and they were adamant that they didn't
10:14:11
9
want to do anything that was going to prejudice their 2012 trial
10:14:15
10
10:14:18
11
10:14:21
12
claims, one of the things that they are going to have to show is
10:14:24
13
that there were defaults, events of default, by Fontainebleau.
10:14:29
14
10:14:32
15
ruling in the Fontainebleau case and as we discussed with Your
10:14:36
16
Honor in the briefing on the motion to dismiss in this case, if
10:14:41
17
it is established by the term lenders, as they must, that there
10:14:46
18
were defaults by Fontainebleau, and the events of default that
10:14:50
19
they are talking about in their complaint happened long, long,
10:14:54
20
long before March 2009, then there would be no breach claim
10:15:02
21
under the credit agreement for failure to fund the March
10:15:05
22
borrowing request because Fontainebleau would have already been
10:15:08
23
in material breach of the credit agreement.
10:15:10
24
10:15:15
25
MR. CANTOR:
We spoke to counsel for the term lenders when they
date on the disbursement agent claims.
But in order to prevail on the disbursement agent
But as Your Honor recognized in the summary judgment
So we would be going up to the Eleventh Circuit on an
issue that, from a standing perspective, Your Honor has already
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 14 of 32
Oral Argument
14
10:15:19
1
determined they don't have the right to be heard on.
That is
10:15:25
2
what your standing ruling is, is that they are not a beneficiary
10:15:28
3
of the fully drawn provision and therefore they don't have a
10:15:32
4
right to be heard on it.
10:15:33
5
10:15:36
6
go up to the Eleventh Circuit in an extraordinary procedural
10:15:41
7
mechanism that is to be invoked rarely so that they can argue
10:15:44
8
about the contract interpretation of a provision that Your Honor
10:15:48
9
said they don't have the power to enforce.
10:15:51
10
are talking about a claim that could be mooted by the ongoing
10:15:54
11
litigation.
10:15:55
12
10:15:58
13
to, respectfully, you know, what's the harm is not the proper
10:16:04
14
standard.
10:16:07
15
lot more serious than okay, you know, it would be convenient.
10:16:11
16
10:16:15
17
overstepped my bounds and they are going to limit their
10:16:19
18
discussion, in which case the other side then says, "Well, we
10:16:23
19
want at least the opportunity to file amicus on this."
10:16:27
20
10:16:30
21
other, they're going to try to get their position heard with
10:16:33
22
respect to the fully drawn question.
10:16:38
23
MR. CANTOR:
10:16:39
24
THE COURT:
10:16:41
25
So it is really getting it backwards that they want to
In any event, they
So that's the prejudice to us, Your Honor, in addition
The Eleventh Circuit has made it clear that it is a
THE COURT:
Then they would tell us that I have
So then we're back to the amicus issue.
One way or the
Your Honor, it is interesting -The only issue is whether they have any
opportunity to argue about the standing issue at that same time.
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 15 of 32
Oral Argument
15
Your Honor, it was interesting that when
10:16:45
1
10:16:47
2
you asked them what new arguments, different arguments, they
10:16:50
3
would raise that aren't going to be raised by the trustee,
10:16:55
4
whether intentionally or by inadvertence, they actually didn't
10:16:59
5
answer that question because, quite frankly, either answer
10:17:01
6
doesn't help them on this motion.
10:17:04
7
10:17:06
8
or their arguments are going to be different, in which case
10:17:09
9
their point about not burdening the Eleventh Circuit makes no
10:17:11
10
sense because now they are, in fact, burdening the Eleventh
10:17:14
11
Circuit with additional issues that they wouldn't otherwise have
10:17:17
12
to address.
10:17:18
13
10:17:22
14
10:17:24
15
10:17:27
16
Let me go back to, I think, where your question started with
10:17:32
17
counsel.
10:17:33
18
10:17:37
19
any reason that we should not be in the Eleventh Circuit arguing
10:17:43
20
these issues?
10:17:44
21
10:17:46
22
this in the first instance and had delayed, had not sought
10:17:51
23
reconsideration, had not sought a 54(b) certification because we
10:17:56
24
had determined that we didn't want to be in the Court of Appeal.
10:17:58
25
MR. CANTOR:
Either their arguments are going to be exactly the same
THE COURT:
Point well taken but let me turn back.
What do you have to say with respect to their position?
MR. DILLMAN:
Well, Your Honor, a lot was just said.
As a practical matter, why do we care?
Why is there
Counsel suggested that we had somehow not cared about
Far from it, Your Honor.
We would have loved, in May
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 16 of 32
Oral Argument
16
10:18:01
1
of last year, to go up on appeal.
We would have liked to have
10:18:05
2
gotten finality on this.
10:18:08
3
revolving lenders back in this case.
10:18:11
4
one-defendant case where it was eleven before.
10:18:14
5
10:18:17
6
neither this Court nor the Eleventh Circuit would have looked
10:18:20
7
favorably upon the multiple appeals that that would have
10:18:26
8
created.
10:18:27
9
10:18:30
10
Fontainebleau.
10:18:35
11
have an appeal of that issue at the end of their case.
10:18:41
12
by definition if we were to seek 54(b) relief at that time, we
10:18:45
13
would have created the situation of multiple considerations by
10:18:48
14
the Eleventh Circuit on these issues.
10:18:52
15
10:18:56
16
Honor granted the trustee's motion to dismiss claims, to allow
10:19:01
17
the trustee to appeal, that now gave an opportunity to have this
10:19:07
18
issue decided once by the Eleventh Circuit now.
10:19:13
19
10:19:18
20
possible harm?
10:19:20
21
with a couple of additional arguments?
10:19:23
22
10:19:26
23
Eleventh Circuit will want to have before it when it considers
10:19:29
24
these issues all points of view.
10:19:35
25
at the end of the case it is determined that they weren't given
We would have liked to have gotten the
This is now a
It was our assessment, however, at that time that
How so?
You had already denied the 1292(b) motion for
Therefore, they were going to only be able to
That situation has now come full circle.
I go back to the practical question:
And so
When Your
What is the
Why is the Eleventh Circuit going to be burdened
I think that they can handle that.
I think the
They will be disappointed if
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 17 of 32
Oral Argument
17
10:19:38
1
arguments.
10:19:39
2
10:19:44
3
possibility.
10:19:48
4
multiplicity of appeals throughout the circuits that will result
10:19:51
5
if we are not there.
10:19:52
6
10:19:55
7
the Eleventh Circuit calls the shots on the issue because if I
10:20:03
8
grant your motion, it can take a look at what I've done and say
10:20:09
9
that the entry of partial final judgment under 54(b) was
10:20:13
10
10:20:21
11
10:20:25
12
versus Tenet Health Care, 483 F.3d 773, decided in 2007, and
10:20:40
13
there are others.
10:20:44
14
10:20:48
15
in the interest of all the parties as they see it through the
10:20:52
16
appellate lens.
10:20:58
17
10:21:01
18
that opportunity and the opportunity for the other side to move
10:21:04
19
to dismiss it as being improperly filed, I suppose, and the
10:21:07
20
Eleventh Circuit can decide that question.
10:21:10
21
10:21:13
22
Yarn Processing case as another case where the Eleventh Circuit
10:21:16
23
rejected a 54(b) certification, saying that there hadn't been
10:21:19
24
sufficient grounds established.
10:21:20
25
Now, Your Honor has pointed to the issue of an amicus
Yes, that exists, but then we get back to the
THE COURT:
Well, I mean, the truth of the matter is
improper and dismiss it, and they have done so.
One case I found was Lloyd Noland Foundation, Inc.
So the Eleventh Circuit can decide, in effect, what is
The question is whether it makes sense to give them
MR. DILLMAN:
Well, Your Honor, I would point to the
The Eleventh Circuit has shown no reluctance to step in
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 18 of 32
Oral Argument
18
10:21:22
1
when it does not want to be bothered by appeals that it does not
10:21:25
2
consider to be appropriate under Rule 54(b).
10:21:29
3
10:21:34
4
ourselves:
10:21:40
5
out of the Eleventh Circuit?
10:21:43
6
will be there.
10:21:47
7
They will fly out.
10:21:50
8
have to address the standing argument, but they will have to
10:21:53
9
address that sometime anyway.
10:21:54
10
10:21:57
11
10:21:57
12
10:22:00
13
10:22:05
14
I want to emphasize this is an MDL proceeding.
10:22:09
15
set up for just these efficiencies, and I would suggest that the
10:22:15
16
MDL panel, if looking at this, would say we don't want these
10:22:18
17
appeals to be heard in different circuits.
10:22:22
18
it to Judge Gold.
10:22:26
19
Circuit oversee these matters.
10:22:28
20
10:22:31
21
reason that all of us are here before you, that you would not
10:22:35
22
permit us 54(b) certification.
10:22:37
23
10:22:39
24
global mediation?
10:22:45
25
a place at the table.
I think, Your Honor, as a final matter we have to ask
Why are the defendants fighting so hard to keep us
They are going to be there.
They
It is not going to be a stitch more for them.
They will make their appearance.
They will
They think you are too good an advocate up
THE COURT:
there.
Well, Your Honor, it is obviously
MR. DILLMAN:
strategic, not equitable, in terms of their desires here.
This is
That's why we sent
That's why we sent it to have the Eleventh
I think it is fundamentally inconsistent with the whole
THE COURT:
What is your response to the issue of the
With a 54(b) in their favor, they would have
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 19 of 32
Oral Argument
19
10:22:46
1
Why wouldn't you want them to have a place at the
10:22:49
2
10:22:49
3
10:22:54
4
that.
10:23:00
5
because they have to do with strategic settlement issues.
10:23:04
6
10:23:06
7
is there some persuasive reason that would be disruptive of the
10:23:14
8
mediation to have them as a participant if it is a global
10:23:18
9
mediation?
10:23:18
10
10:23:20
11
posture right now from a settlement perspective than the trustee
10:23:26
12
is.
10:23:26
13
10:23:29
14
dismissed.
10:23:33
15
Bank of America which while I, as you undoubtedly recognize,
10:23:40
16
seriously dispute, I'm sure they believe them to be very strong,
10:23:43
17
very valid and worth a lot of money.
10:23:47
18
10:23:52
19
the settlement conference just for that reason alone, among
10:23:56
20
others.
10:23:56
21
10:24:00
22
among yourselves at this point because the discovery hasn't gone
10:24:03
23
far enough?
10:24:05
24
10:24:10
25
table?
MR. CANTOR:
Your Honor, I've got lots of answers to
Some of them are probably not appropriate for a courtroom
THE COURT:
MR. CANTOR:
I'm not asking for those answers.
I mean,
Well, Your Honor, they are in a different
Every single one of the trustee's claims has now been
The term lenders still have their claims against
Thus, it would impose an entirely different dynamic on
THE COURT:
Is it premature for settlement discussions
Would it be helpful to have an early discussion which
is triggered by this global mediation at the Eleventh Circuit
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 20 of 32
Oral Argument
20
10:24:16
1
level?
10:24:16
2
10:24:19
3
not meaning to be -- hopefully not being nonresponsive.
10:24:22
4
parties have been mindful already of the potential benefits of
10:24:27
5
early settlement.
10:24:32
6
will not advance that goal in any way.
10:24:42
7
Your Honor, just further on the mediation point, the
10:24:47
8
parties have already debated with Mr. Halbecker, the Eleventh
10:24:52
9
Circuit mediator, whether, in fact, mediation would be fruitful
10:24:57
10
10:25:00
11
10:25:03
12
Mr. Halbecker has told us he still wants to go forward with the
10:25:07
13
mediation.
10:25:11
14
with high expectations for its success, so that's another
10:25:16
15
atmospheric there as well.
10:25:18
16
10:25:21
17
point on this issue of if the Eleventh Circuit doesn't want it,
10:25:24
18
the Eleventh Circuit will kick it back.
10:25:27
19
10:25:29
20
Circuit opinions on 54(b), and in particular the Eberhini case,
10:25:37
21
the Eleventh Circuit has made it clear that it doesn't want to
10:25:39
22
be burdened with having to kick it back in the first instance.
10:25:42
23
10:25:46
24
instructed to Districts Courts that they need to make very
10:25:50
25
specific findings before granting 54(b) relief and has, in the
MR. CANTOR:
Let me put it this way, Your Honor, and
The
The mediation that is planned for February
even between the revolving lenders and the trustees.
Quite frankly, over the revolving lenders' views,
So it's not as though everyone is going to mediation
If I may, Your Honor, I just would like to add one
Respectfully, I think when you read the Eleventh
And that is why, respectfully, it has specifically
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 21 of 32
Oral Argument
21
10:25:55
1
Court's words, counseled Districts Courts to exercise the
10:26:00
2
limited discretion afforded by Rule 54(b) conservatively.
10:26:05
3
10:26:08
4
does not envision a process whereby 54(b) relief will be granted
10:26:13
5
because what's the harm?
10:26:16
6
it back.
10:26:17
7
10:26:20
8
10:26:21
9
10:26:25
10
order but I'm asking you practically, as we discuss the
10:26:33
11
implementations of the give and take, what is really going on
10:26:36
12
here between the parties, this question, --
10:26:38
13
MR. CANTOR:
10:26:39
14
THE COURT:
10:26:41
15
litigation context.
10:26:44
16
10:26:51
17
we talk about summary judgment on the remaining issues that are
10:26:57
18
still before us, but without even beginning to imagine all the
10:27:05
19
arguments that both sides will present, there may be a
10:27:12
20
likelihood that there are material issues of fact that require
10:27:16
21
resolution through trial.
10:27:19
22
10:27:24
23
different points of view among circuits on this issue and that
10:27:28
24
certainly is not consistent with the multidistrict goals.
10:27:37
25
So I think it is fair to say that the Eleventh Circuit
The Eleventh Circuit can always kick
They want to make sure that the issue has been fully
vetted here first.
THE COURT:
I promise I won't put those words in my
Yeah.
-- particularly in a multidistrict
I have concerns about where it all ends up.
You know,
If that's the case, then there could be a potential for
MR. CANTOR:
I understand that, Your Honor, but -January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 22 of 32
Oral Argument
22
That's one point that the Eleventh Circuit
10:27:39
1
10:27:42
2
might have some concern about, that they would be the one to
10:27:47
3
decide this issue as to all the parties once and for all.
10:27:57
4
10:27:57
5
could I jump in for a second on that point?
6
Simpson Thacher.
THE COURT:
MR. WOLL:
Your Honor, if Mr. Cantor doesn't mind,
Sure.
David Woll from
Could you use the microphone a
10:28:00
7
10:28:01
8
little bit better?
10:28:03
9
MR. WOLL:
10:28:06
10
recognize that the "fully drawn" appeal in the trustee case, in
10:28:13
11
the Fontainebleau case, could very well result in unresolved
10:28:19
12
disputed factual issues, either because the Eleventh Circuit
10:28:22
13
found contrary to our belief that the term is ambiguous and that
10:28:25
14
there needs to be a trial on the meaning of "fully drawn," or
10:28:30
15
because of the events of default issues that Mr. Cantor
10:28:33
16
mentioned.
10:28:35
17
10:28:39
18
contract interpretation issue, there is still the issue of the
10:28:42
19
events of default which Your Honor is suggesting may not be
10:28:46
20
subject to resolution on summary judgment.
10:28:48
21
10:28:52
22
the Eleventh Circuit now on this legal issue and then have
10:28:55
23
another shot in another circuit after a trial on the factual
10:28:59
24
issues which could very well result from the appeal, I don't
10:29:03
25
think serves judicial economy or the MDL interest because then
THE COURT:
I apologize.
I think it is important to
Even if Fontainebleau prevailed on the "fully drawn"
So this notion that the term lenders want to go up to
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 23 of 32
Oral Argument
23
10:29:08
1
you have two Appellate Courts dealing with appeals in the same
10:29:11
2
case.
10:29:13
3
10:29:15
4
making earlier, Your Honor, which is to say that there is going
10:29:17
5
to be an appeal from the term lender versus revolver case, and
10:29:22
6
it will be better for whatever Court ultimately hears that
10:29:25
7
appeal that it have all of the issues between us before it
10:29:28
8
rather than having only part of those issues, particularly with
10:29:33
9
respect to the credit agreement claims, because as Mr. Woll
10:29:37
10
said, there are going to be arguments about the credit agreement
10:29:41
11
claims in this case if the Eleventh Circuit decides that your
10:29:44
12
interpretation of "fully drawn" was either incorrect or that the
10:29:48
13
term is ambiguous.
10:29:51
14
10:29:54
15
term lender case until it was all done, Mr. Dillman referred to
10:29:58
16
this as strategic, but I think he sort of meant that in a
10:30:02
17
somewhat pejorative sense, but I think it is really more a
10:30:06
18
matter of fairness.
10:30:07
19
10:30:09
20
case on the issue of the credit agreement with all of our
10:30:16
21
arguments available to us.
10:30:18
22
10:30:20
23
in a pleading sense as opposed to a factual sense is that the
10:30:21
24
term lenders can't prevail on the credit agreement claim because
10:30:26
25
it has been established that Fontainebleau breached the
MR. CANTOR:
And that goes back to the point that I was
So on the other hand if we were to wait to appeal the
We should be able to go up to the Appeals Court in this
One argument that we won't have available to us except
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 24 of 32
Oral Argument
24
10:30:29
1
agreement before it made the March 3 borrowing request.
10:30:34
2
10:30:39
3
suggested, where there could be multiple courts dealing with
10:30:42
4
that issue, where all of the issues relating to the credit
10:30:45
5
agreement are not before the Appellate Court, whereas if you
10:30:48
6
keep the term lender litigation together -- and again to go back
10:30:51
7
to my initial point, 54(b) is not about the appeal of issues; it
10:30:55
8
is about the appeal of cases.
10:30:57
9
10:31:01
10
the second part of 54(b) talks about, what the policy against
10:31:06
11
piecemeal appeals is designed to prevent, then you avoid these
10:31:11
12
potential problems.
10:31:12
13
THE COURT:
10:31:14
14
MR. DILLMAN:
10:31:17
15
to simply try and count up appeals and say how many are there,
10:31:23
16
and depending on that equation, we're going to grant or not
10:31:27
17
54(b) relief.
10:31:30
18
10:31:34
19
the Appellate Courts now to be there and, by the same token, to
10:31:42
20
prevent parties from cutting in line.
10:31:45
21
you need to go through to appeal, and the Appellate Court has
10:31:47
22
said we don't want people cutting in line unless there is a
10:31:51
23
pretty darn good reason for it.
10:31:54
24
10:31:57
25
54(b) relief puts you in this odd posture, as Mr. Woll
And if you keep this case to one appeal, which is what
What's your response to all that?
Your Honor, I think it is a narrow view
54(b) is designed to allow parties that should be in
There is a process that
We are not even seeking to cut in line.
there.
It is already
We are just seeking to join the parties that are already
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 25 of 32
Oral Argument
25
10:32:00
1
in line, that are there as a matter of right; and the notion
10:32:05
2
that somehow there may be events -- and I am not even sure I
10:32:09
3
completely understood the fact patterns that they were
10:32:12
4
speculating in terms of what may happen and when and in what
10:32:15
5
circuits.
10:32:16
6
10:32:21
7
drawn issues on the credit agreement, the only issues involving
10:32:25
8
10 of the 11 defendants, the only issues involving those
10:32:29
9
revolving defendants, other than BofA, who is -- the
10:32:34
10
allegations, who is being -- claims are being asserted against
10:32:39
11
on a wholly different agreement for wholly different conduct
10:32:42
12
with different damages.
10:32:47
13
set of claims involving 10 defendants up before the Court of
10:32:51
14
Appeal.
10:32:52
15
10:32:54
16
don't know how things are going to go.
10:32:56
17
summary judgment.
10:32:59
18
all I know.
10:33:04
19
stake through this particular issue and, that is, is there a
10:33:08
20
claim for failure to fund against the revolving lenders?
10:33:11
21
10:33:16
22
It may or may not be able to be joined with this case given the
10:33:20
23
timing.
10:33:23
24
that bridge when we come to it.
10:33:25
25
One thing we know to be clear:
These issues, the fully
So we have got all of the issues on a
I don't know what is going to happen in these cases.
I
I don't know about
Your Honor may grant our summary judgment for
But I do know that we have an opportunity to put a
If the answer to that is yes, it will come back down.
Who knows what is going to happen, but we will burn
If the answer is no, then we're done.
January 7, 2011
Then we no
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 26 of 32
Oral Argument
26
10:33:29
1
longer have the revolving lender failure to fund claims to deal
10:33:35
2
with, and I think that really is the focus of our motion, is to
10:33:42
3
generate the efficiencies, to eliminate the extraneous work that
10:33:51
4
would otherwise be imposed upon the Eleventh Circuit,
10:33:54
5
potentially the Ninth Circuit and potentially the Second Circuit
10:33:58
6
here.
There is no reason.
10:34:01
7
here.
The parties are there.
10:34:07
8
them.
10:34:07
9
10:34:10
10
it clear that there has to be a pressing need, that the purpose
10:34:13
11
of 54(b) is to avoid prejudice to the party that seeks the
10:34:19
12
relief.
10:34:22
13
10:34:28
14
at the Eleventh Circuit with the trustee, and I can understand
10:34:30
15
why he would like to be a part of that proceeding, but he has
10:34:32
16
not made even the remotest showing of a pressing need.
10:34:38
17
10:34:40
18
about is 54(b) relief for what was alternative grounds for Your
10:34:47
19
Honor's decision to dismiss his claims.
10:34:53
20
seeks 54(b) relief so that he can appeal the principal basis on
10:34:58
21
which his claims were dismissed.
10:35:00
22
He wants to appeal an alternative basis.
10:35:10
23
MR. RUBINSTEIN:
24
10:35:12
25
MR. CANTOR:
There is no just cause for delay
We simply seek to be there with
Your Honor, the Eleventh Circuit has made
What is the pressing need?
What is the prejudice?
Mr. Dillman has explained why they would like to be up
Again, it is important to remember what he's talking
It is not even that he
Your Honor, may I?
Aaron Rubinstein
from Kaye Scholer for HSH Nordbank.
I am in a slightly different position than Mr. Cantor
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 27 of 32
Oral Argument
27
10:35:15
1
and his client because I am only a revolver, and I am not facing
10:35:19
2
the disbursement agreement claims that he is facing.
10:35:21
3
10:35:25
4
yes from the Eleventh Circuit, that indeed Your Honor was wrong,
10:35:30
5
then I am back in litigation now and I am litigating and going
10:35:34
6
through discovery and everything without the Eleventh Circuit
10:35:37
7
having had the opportunity to address everything to prevent me
10:35:40
8
from being in that position, because without 54(b)
10:35:44
9
certification, the litigation is going to proceed against Bank
10:35:47
10
10:35:49
11
10:35:54
12
10:35:58
13
10:36:00
14
declared and that alone would preclude the revolvers from having
10:36:05
15
to have funded on March 2 or March 3.
10:36:07
16
10:36:11
17
plaintiff's counsel is that is exactly why I, as a revolver only
10:36:17
18
-- and most of us are revolvers only except for Bank of
10:36:19
19
America -- are facing very severe prejudice.
10:36:22
20
10:36:26
21
Eleventh Circuit at the end of the case, including whether or
10:36:28
22
not there was a default after a determination of the claims
10:36:33
23
against the administrative agent, then they are only addressing
10:36:37
24
the issues that relate to the revolvers with part of the legal
10:36:45
25
basis to proceed on the claims for not funding on March 2 or
To respond to plaintiff's last point, if the answer is
of America as administrative agent.
And if they lose, then I'm never going to be faced with
the trial for the reasons Mr. Cantor said.
There will have been a default that will have been
And so the answer to the last point that was made by
If they win without all of the issues before the
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 28 of 32
Oral Argument
28
10:36:49
1
March 3.
10:36:50
2
I may never get there if the determination is made that
10:36:55
3
there were serious defaults and events and defaults that existed
10:36:59
4
because that is a separate basis that would preclude their
10:37:03
5
claims against the revolvers.
10:37:06
6
10:37:09
7
settlement and why it would hurt if they were there.
10:37:12
8
things which I can say is I think it would hurt tremendously
10:37:15
9
from my perspective.
10:37:20
10
10:37:22
11
10:37:30
12
bankrupt entity that no longer owns this project and that has to
10:37:34
13
evaluate, having lost, whether or not it is worth spending money
10:37:39
14
to pursue the claims or not and evaluate what is reasonable for
10:37:43
15
it to accept under these circumstances.
10:37:46
16
10:37:53
17
vulture fund purchasers who bought up this debt for severe
10:37:59
18
discounts but for many millions of dollars.
10:38:03
19
recover their investment, and they are hardly going to be of a
10:38:06
20
frame of mind to settle at what we believe should be the minimal
10:38:09
21
amount that a trustee should agree to settle because why should
10:38:14
22
they?
10:38:15
23
10:38:18
24
their hundreds of millions of dollars of whatever they have
10:38:20
25
invested because otherwise they are potentially being asked to
One more point, Your Honor, if I may.
You asked about
One of the
There are different types of plaintiffs
here with respect to that same issue.
We are going to be negotiating with a trustee of a
Many of the plaintiffs in this case are essentially
They are in it to
They'd rather pay counsel and take a shot and recoup
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 29 of 32
Oral Argument
29
10:38:22
1
walk away for a minimal amount.
10:38:27
2
10:38:29
3
settle with the term lenders.
10:38:31
4
could settle with the trustee but if there is a joint
10:38:35
5
negotiation, I think that eliminates the chance of settling with
10:38:38
6
the trustee because the trustee is not going to accept what I
10:38:43
7
think is the most we are going to be willing to pay under the
10:38:46
8
settlement circumstances if the term lenders are there
10:38:48
9
potentially getting more or substantially more.
10:38:53
10
10:38:57
11
10:39:00
12
THE COURT:
10:39:04
13
MR. DILLMAN:
10:39:09
14
without indicating that this notion that proof of a default
10:39:15
15
somehow eliminates the claims against the revolvers is just not
10:39:22
16
correct.
10:39:24
17
10:39:28
18
Fontainebleau case.
10:39:31
19
the motion to dismiss, spent a great deal of time -- I believe
10:39:36
20
six or seven pages -- explaining why, under the proper
10:39:39
21
interpretation of the credit agreement, prior defaults did not
10:39:45
22
excuse the revolving lenders from funding.
10:39:49
23
10:39:56
24
their reply brief on that.
10:39:59
25
is very much, in our opinion, a live issue.
I don't think there is a chance at this stage we could
I think there is a chance we
It really changes the dynamic in a way that I think is
very detrimental to reaching a settlement with the trustee.
Anyone else have anything you wish to add?
Your Honor, I can't let this hearing go
Your Honor has ruled on this issue previously in a
We have in our motion, our opposition to
That was never rebutted by the revolving lenders in
The Court never reached it, but it
January 7, 2011
Even if the Court
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 30 of 32
Oral Argument
30
10:40:04
1
were to conclude that indeed prior existing defaults excused,
10:40:12
2
recall that our disbursement agreement claims, our claims
10:40:16
3
against Bank of America for improperly disbursing our funds
10:40:22
4
March 25, 2009, concern acts that occurred on March 25, 2009.
10:40:26
5
10:40:31
6
is certainly a possibility that even if you were to determine
10:40:37
7
the defaults excused payments, the defaults that we prove up
10:40:42
8
would not be relevant and applicable to that earlier period.
10:40:47
9
10:40:49
10
10:40:52
11
10:40:55
12
expression that you are interested in going through more detail
10:40:58
13
on that.
10:40:59
14
THE COURT:
10:41:00
15
MR. DILLMAN:
10:41:03
16
10:41:07
17
10:41:09
18
that, because I also recognize that you don't want to get into
10:41:12
19
the meat of this, but I would simply point out that in our
10:41:15
20
motion to dismiss reply brief at Page 8, Footnote 12, we did, in
10:41:19
21
fact, deal with their issue.
10:41:22
22
Because it was the fourth or fifth reason why their
10:41:25
23
claims failed, it was not emphasized in our brief or in Your
10:41:28
24
Honor's opinion, but we very much did dispute the issue, and are
10:41:34
25
prepared to do so down the road as well.
The failure to fund occurred on March 3rd, and so there
I didn't want it to go by that that was something that
we agreed with and that that was the law of the case here.
I am happy to -- I don't get the sense from the Court's
I am really not.
There are many arguments that we have and
I just wanted to make sure that that did not go unresponded to.
MR. CANTOR:
Your Honor, the only thing I will say on
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 31 of 32
Oral Argument
31
Does anybody wish to have any other
10:41:38
1
10:41:41
2
10:41:43
3
10:41:49
4
on the question.
10:41:51
5
clarifying some matters that at least I wanted to ask you about,
10:41:55
6
but I hope to get the answer out to you within the next week so
10:42:01
7
that you have time to take positions that you may want to take
10:42:09
8
if I rule adversely.
10:42:10
9
10:42:14
10
MR. DILLMAN:
Thank you Your Honor.
10:42:15
11
MR. CANTOR:
Thank you, Your Honor.
10:42:17
12
THE COURT:
position stated?
I'd like to take another look at this before I decide
Your arguments today were helpful in
Thank you for your appearances today.
[The proceedings conclude at 10:42 a.m., 1/7/11.]
13
14
15
16
17
18
19
20
21
22
23
24
25
January 7, 2011
Case 1:10-cv-20236-ASG Document 63 Entered on FLSD Docket 02/22/2011 Page 32 of 32
32
1
2
3
CERTIFICATE
I hereby certify that the foregoing is an accurate transcription of the
proceedings in the above-entitled matter.
4
5
6
7
8
________________
01.25.11
DATE
______________________________________
JOSEPH A. MILLIKAN, RPR-CM-NSC-FCRR
Official United States Court Reporter
Federally Certified Realtime Reporter
400 North Miami Avenue, Suite 11-1
Miami, FL 33128
305.523.5588
(Fax) 305.523.5589
josephamillikan@gmail.com
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Quality Assurance by Proximity Linguibase Technologies
January 7, 2011
Case 1:10-cv-20236-ASG Document 64 Entered on FLSD Docket 02/22/2011 Page 1 of 1
02.22.11
Two Volumes, 05.07.10 & 01.07.11
02.22.11
Case 1:10-cv-20236-ASG Document 65 Entered on FLSD Docket 03/03/2011 Page 1 of 1
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 1 of 81
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
CASE NO 09-MD-02106-CIV-GOLD/GOODMAN
IN RE: FONTAINEBLEAU LAS VEGAS
CONTRACT LITIGATION
MDL No.2106
This document relates to 10-cv-20236GOLD/GOODMAN
______________________________________/
AURELIUS PLAINTIFFS’
DESIGNATION OF RECORD FOR APPEAL
Pursuant to the Clerk of Court's request dated May 10, 2011, the Aurelius Plaintiffs 1 hereby
designate documents to include in the record to be transmitted to the Eleventh Circuit Court of
Appeals by circling the appropriate docket entry numbers of items to include on copies of the
following dockets: (1) the MDL docket sheet, Case No. 09-md-2106, attached hereto as Exhibit
A, to the extent the documents were filed in and appear on the MDL docket; (2) the docket sheet
in the underlying case, Case No. 10-cv-20236, attached hereto as Exhibit B, to the extent the
documents were filed in the underlying case only; and (3) the docket sheet in the coordinated
case captioned Fontainebleau Las Vegas LLC v. Bank of America, NA., et al., Case No. 09-cv21879, attached hereto as Exhibit C, to the extent a document was only filed in the underlying
docket of the coordinated case but expressly incorporated by the Court into MDL Order Number
Eighteen, as amended. [ECF No. 80 in Case No. 09-md-2106.]
1
Aurelius Plaintiffs consist of the plaintiffs in ACP Master, Ltd., et al. v. Bank of America, NA.,
et al., in underlying case number Case No. 10-cv-20236-ASG.
{00032944.DOCX }
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 2 of 81
Respectfully submitted,
DATED: May 12, 2011
By:
/s/ Brett M. Amron
Brett M. Amron, Esq.
BAST AMRON LLP
SunTrust International Center
One Southeast Third Avenue, Suite 1440
Miami, FL 33131
Telephone: (305) 379-7904
Facsimile: (305) 379-7905
Local Counsel for Plaintiff Term Lenders
- andBARTLIT BECK HERMAN PALENCHAR
& SCOTT
James B. Heaton, Esq.
Steven James Nachtwey, Esq.
54 West Hubbard St., Suite 300
Chicago, IL 60654
Telephone: (312) 494-4400
Facsimile: (312) 494-4440
Counsel for Plaintiff Term Lenders
{00032944.DOCX }
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 3 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 4 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 5 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 6 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 7 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 8 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 9 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 10 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 11 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 12 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 13 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 14 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 15 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 16 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 17 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 18 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 19 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 20 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 21 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 22 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 23 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 24 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 25 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 26 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 27 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 28 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 29 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 30 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 31 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 32 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 33 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 34 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 35 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 36 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 37 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 38 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 39 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 40 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 41 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 42 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 43 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 44 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 45 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 46 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 47 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 48 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 49 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 50 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 51 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 52 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 53 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 54 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 55 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 56 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 57 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 58 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 59 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 60 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 61 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 62 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 63 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 64 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 65 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 66 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 67 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 68 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 69 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 70 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 71 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 72 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 73 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 74 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 75 of 81
CERTIFICATE OF SERVICE
The undersigned hereby certifies that a copy of the foregoing AURELIUS PLAINTIFFS’
DESIGNATION OF RECORD FOR APPEAL was filed with the Clerk of the Court using
CM/ECF. I also certify that the foregoing document is being served this day on all counsel of
record or pro se parties identified on the attached Service List in the manner specified either via
transmission of Notices of Electronic Filing generated by CM/ECF or in some other authorized
manner for those counselor parties who are not authorized to receive electronically the Notice of
Electronic Filing.
Dated: May 12, 2011.
/s/ Brett M. Amron
Brett M. Amron, Esq.
{00032944.DOCX }
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 76 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 77 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 78 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 79 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 80 of 81
Case 1:10-cv-20236-ASG Document 67 Entered on FLSD Docket 05/12/2011 Page 81 of 81
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 1 of 28
UN I
TED STATES D I
STRICT CO URT
SOUTHERN DI
STRI O F FIO RI
CT
, DA
Ap a :S ei
pe l e tou
S
TEVEN M .
LARI ORE
M
Clr o Cour
ek f
t
Da e:
t
9// 011
92
Cl k,Unie St k Cour ofApp al
er
t d at s
t
e s
Elv h Cic t
e ent r ui
5 Fœr y h St e t N. .
6 s t r e, W
Atant GA 30 3
l a,
30.
I RE:
N
CO RG O A
o,f n
l e dant Ca euCL Fun an Br a L v a ed Ca t l Ban o Amer a
:
vn
O
d d i de e er n
n
ni v. k f
a
i
c
Dit Cour No: 0921 79 CV - ASG
s.
t
- 8- -
0 23 5 CV ASG
9- 83 -
1 - 0 - ASG
0 2 236 CV
I. C. No 1 - 49 JS. A. : 0 1 25M
11 1 46 M
- 0 8-
1- 7 1 10 40 M
st e FONTAI
yl:
NEBL
EAU O S VEGAS LL V.
C BANK OFAMERI
CA.
CERTI CATE OF REAI I
FI
INESS AND TM NSM I
TTAL OF RECORD ON APPEAL
Pur u t Fe R.
s ant o d, App. llc.t Clr oft eDititCo tf t Sout r DititofFl i
P. ( ) ht ek h src ur cr be he n src
orda
h eb c r i e t at assh w a o t en os d i de ,t r c rd i c
er y e tf s h ,
i
o
n he cl e n x he e o s omplt f pur e o t s
e e or pos s f hi
app alTher c d(n udigt et a crptœrparst r o dei a e f i l in a al
e.
e or icl n h r ns i
t he e f sgn t d or ncuso nd 1
ne es yc bis c sss(:
c sar xhi t) on it )
f
3 Vtl t)ofpla n
lume g
e digs
3 Vol t)ofTr c it
umes
ansrp s
E h bt:
x ii
s
? b xs
o e;
- f le s
2 od r;
-
0 e eo s
nv lpe ;
C PSI (e ld)
s s ae
E ob r . - - -.-.. .,
Z t e : - . . .-,- .
-. . -.
. ..
. .
V)oh r .2.44&p.x .i èE -7 v . 7 -. - -.
te: .) y -I .(t r N.Dc2- A- -.--.
(Q
.Q- ks
h
1
8
-.
! 1Ot r .1 = $ s,1 k >
W be : fE8tq Eq!er Q lt
7 ( e:
) r
-- - ---.
.-
Celf0r t. L 7 tt' 38 ri l
i
' fl -1
e
t
j
COI2 c 1 : ti ê)tz q10n fI
rOt 02 1 -i 12l e
. f
y
: r
ie
k#2 î 1Q9 1 -, 1 mX 06
-
-
. .--- . . --- -- .-.
-- .. - -.
-.
..
.-
-. -. .
-- .
- .
' egt v n v. t ka f,clr ,
' r è e . - ror) c k
c
ar
e n M .lùt è kt e l
ve
z e '- clrk i ur
ùnd e
m
t
Sout
her 1D' z Ct 0* Fl i
k
S
: orda
v
:
. x. .
. . ;A
'
;
: ,
'
.'
.'
D ' .I
ut c
Dae
t
At
acbmenl
c eourtfl
:
ie
/
.
.
'
tpt y Cl
- l etk
-
-//
?
. . .
4 N.M i Ave
00
ami nue
M i ,F13 8 7 1
ami 312 - 7 6
305 52 5
- 3- 080
-
.
.
S/ A-1
F 5
Rr 1 94
v. 0/
i 29 E.Br dBoulvar
z 9
owar
e d
Ft La r e F13
. ude dal. 3301
954 76 541
- 9- 3
t 1 *91Clma i Stet
) J e ts re
7
W e tPa m Be h,Fl 01
s l ac
334
561 80 3
- 3- 408
INI CF -Li D a abas -f s T oc tRe t
J
- X
ve t e l d- l ke por
Page 1 of 1
4
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 2 of 28
APPEAL,M D L,M EDREQ,REF-DI
SCOV ,
TEB
U . D i r ctC our
S. st i
t
Seut r D it i tofFl i ( i i
he n s rc
or da M am )
A BR I G ED C I I D O CK ET FO R CA SE #:1: c 21879- SG
D
V L
09- vA
Int
ernalU se O nl
y
l)- i q7xL4 A
t %. .
ç
Font nebl u Las Vega LlC A.Ba ofA m erca N . . t D a e Fie 07/ /
ai ea
s = , nk
i , A e
t l d: 07 2009
al
D a e Te m i t d:09/ / 0
t r na e
20 201
J y D e and: a ntf
ur
m
Pl i if
As in dt J d eAlnS. l
sg e o: u y a Go(
l
Ref r t M agl r e Judge Te E.Bands r
er ed o:
stat
d
ta
N at ofSui:423 B ao upt
ure
t
l
cy
W ihdr l
t aw
Le c e:l: m d- L -ad as 09- 02 Q ASCà
Q
M em be ca es
r s :
Jliditon:Fe a Quesi
trs ci
derl ton
tat Y-1; 9n-- 3 7 ASQ .. t -:
9 ç. 8- - -' t
y7 S
,
.
- A.
W
.-
UJ %ll c -0 6 ASG tl.t 7% -X4
t :0-v2 23 -i
p
'
.
C ase; 1: c:09- ,23389-/. G
.5
$
Cas i ot rcour :BK C- I ,09- 621 A J A
e n he
t
M A
01 - CU SCA ,1 1
0- 4925 A A
-
Ca e:28:331Fed.Que ton:Brac ofConta t
us
1
si
e h
rc
Pl ntf
ai if
Fontai eau LasV egasLL (>
nebl
-
r pr s nt d by Jef re Ir Snyder
e ee e
f y a
Bizi Sam ber Ba Pt c & A xe r
ln
g ena i e
l od
1 Brcke lAve
450 i l
nue
Suie 2300
t
M i i FL 33131am ,
3456
305- 61
375- 48
Ia 3 351 2241
z x: 05- -
Emaljn e @ b li c m
i:s yd r i n.o
z
TERM I TED:05 24 2010
NA
/ /
LEAD A T'O RXSF
F
z TI RN E F TO BE N O TI
z D
l
CED
Scot Loui B ae
t
s
na
B iz n Sum ber Ba na Prc & A xe r
li
g e
ie
lod
1450 Brckel Avenue
i l
Suie 2300
t
M i i FL 33131am ,
2336
305- 758
374- 0
Fa 3 7593
x: 74-
w
e T.
I
Cetfa t lt - ttp J j
riit o ?
? tl n
c re tc y ( t l C c nton fl
crc op'1 h. i uma
1
a
ie
St n M .turll t. cl!k,
evei
- i cr' ir
7 t .
U.:. Liv2tt:dr
F ! -c -) t
;
;a
Sou 1('3 '-' rc cf F1) i a
t-? -i1l 4 J c1d
!
z. #
z
By
.
z'.st T:
y
/. z
?
6
'
..
Dl
a0
.
..
-
-
g-g
-
-
T
ERM I T :05 20 2010
NA ED
/ /
LEAD A I ORNEY
T
zl TORNEY TO BE N OTI
I
CED
'
'
,e ' Cl k
put er
y
-.-- .-. .
. .
Emals a na i i c m
i: b e @bl n,o
z
h
r
:
ë
h
(
Davi M .Fr edm a
d
i
n
Ka o
s whz Bens n Tores& Fre a
o
r
i dm n
1 Br
633 oadw a
y
htps:/ cff s cicl1dc cgibi
t /e .l d. r , f - )
VDkt , ?507075651 951 L 9999 1 1
Rptpl
61 2-
9 8 2011
//
CM /
ECF -Li D a aba e - lDocument 68 Entered on FLSD Docket 09/09/2011 PagegeofOf 1
ve t s
d- cke por
Pa 3 2 28 4
Case 1:10-cv-20236-ASGfs D o tRe t
22nd Fl
oor
N e Y o k, Y 1 9- 799
w r N
001 6
Emal d re ma k s wi .o
i: fid n@ a o t c m
z
PRO H A C VI
CE
1I
TORNEY TO BE NOTI
CED
,
Jed 1 Bergm an
.
Kas t Be on Tore & Fre a
owiz ns
rs
idm n
1 Br dw a
633 oa y
22 Fl
nd oor
N e Yor N Y 1 9w
k,
001 6799
212506-1700
Fa 21 506- 800
x: 21
Emalj e g n k s wi .o
i:b r ma @ a o t c m
z
PR O HA C V CE
I
1I
VORN EY TO BE N O T CED
I
.
Se h A .M os w iz
t
ko t
K asow iz Benson Torr & Fredm an
t
es
i
1 Br dway
633 oa
22nd Fl r
oo
N ew Y or N Y 10019k,
6799
Emal s s wiz s wizc m
i: mo ko t @ka o t .o
PR O HA C VI
CE
AI
TORNEY TO ## NOTI
CED
V.
l f
a tn#ant
Bank ofA m er ca, . .
i NA
r pr en ed by C r g V i e R as l
e es t
ai ne nt ie
DLA Pi rLLP (
pe
US)
200 Bi ca Bl
s yne vd.
Suie 2300
t
M i i FL 33131
am ,
305423-8539
Fax:
305- 7- 31
43 81
Emal c agr sl@ dlpp rc m
i: r i a ie a ie .o
fEAD . ITO RN EY
d
A ITORN EY TO BE NO TI
CED
K e n M i hae E e
vi
c l khardt
H unt & W ilam s
on
li
111l Br ckel A venue
i l
Suie 2500
t
M i i FL 331
am ,
31
305- 2500
810Fa 81 2460
x: 0LEAD A H ORNE Y
dTI RNEY TO BE N O TI
D
CED
,
htps/ e fl s c r 1 def c - & Dkt . ?
t r/ c a da icl ,
l
gi bi
Rptpl 507075 61 1 L 9999 1 1
65l 95 2-
9 8 2011
//
CM / F -Li D a a e -fs D tc tRe t
EC
ve t bas l d- l ke por
Pa 3 of 1
ge
4
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 4 of 28
Br e J.But i
adl y
wn
O' e ve & M yer LLP
M l ny
s
Ti e Sq e Tow e
m s uar
r
7 Ti es Squar
m
e
Ne Yor N Y 1
w
k,
0036
21 32622000
Emalb t n@o c m
i: buwi mm.o
PRO HAC VI
CE
H ORNEY TO BE NOTI
CED
z4
D ani lL .C a or
e
nt
O ' e ve y & M ye sLLP
M l n
r
Ti esSqua e Tow e
m
r
r
7 Ti es Squar
m
e
N ew Y or N Y 10036
k,
21 3 200
2- 26- 0
Fax:212- 2061
326-
Emald a tr mm.o
i: c n o @o c m
PRO HA C VI
CE
AH ORNEY TO BE N OTI
CED
Jonat R osenberg
han
O' e ve & M ye sLLP
M l ny
r
Ti Squar Towe
mes
e
r
7 Ti es Squar
m
e
N e Y or N Y 1
w
k,
0036
212- 2000
326-
Emaljo e b r @ o o m
i:r s n eg mm.o
PRO HAC VI
CE
4TI RNEY TO BE NOTI
D
CED
-
W ilam J.Sus
li
hon
O' el ny & M ye s LLP
M ve
r
Ti esSqua e Tow e
m
r
r
7 Ti es Square
m
N ew Y or N Y 10036
k,
21 32622000
Emal ws h n o c m
i! us o @ mm.o
PRO HA C VI
CE
4I
WORN E 1 FO BE N O TI
:
CED
a
D ef
endant
M er ilLync Capi alC or at on
rl
h
t
por i
r pr ent by Cra g V i tntR as l
e es ed
i nc
ie
( ea vefra es)
Se bo o ddr s
fEAD , ITORNEY
p
1
, I
4 TORN EY TO BE NO T CED
I
K v n M i hae Ec
vi
e l khar
dt
( abovef a e s
See
or ddrs )
LEAD A I
WORN E i
'
htps/e .ld.icl1.
- r/ cffs c r dc&c - l
t
gibi/Dkt . ?
Rptpl 50707
5651 951 1 99 1 1
61 2-. 99 -
9/ / 1
8 201
CM /
ECF -Li Da a e -fs Doc Re t
ve t bas ld- ket por
Pa 4 of1
ge
4
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 5 of 28
A H O RN EY TO BE N O TI
CED
B r e J. ut n
adl y B wi
( ea
Se bovef raddrs)
o
es
PRO HA C VI
CE
WTFOD SF FO BE NOTI
CED
Dani lL.Cant
e
or
( ea
Se bovef add e s
or r s )
PR O HAC VI
CE
A YI RN E Y TO BE N O TI
D
CED
Jonat R osenberg
han
( a
See bovef addrs )
or e s
PRO H AC VI
CE
A rfOAZJJ FO BE NOTI
V ;'
CED
W ilam J.Sus
li
hon
( a vef a r s)
See bo or dd e s
PRO HA C VI
CE
4ITORNE Y TO BE N O T CED
I
,
D efendant
JP M or
gan Chas Bank,N . .
e
A
r pr s nt d by Crai V i enfR as l
e ee e
g nc
ie
( ea vef addes)
Se bo or r s
LEAD W ITO RNEY
A H ORN EY TO BE N O TI
CED
M ark D avi Bl
d oom
G r enbe g Tr ur g
e
r a i
1 Brc l Ave
221 i ke l nue
M i i FL 33131
am ,
305- 053
579- 7
Fax!305- 0717
579-
Emalbl
i: oomm@ gtaw.om
t c
LEAD z I
l TORN EY
dI RNEY TO BE N O TI
WO
CED
a
D avi J.W ol
d
l
Si ps Thac r& Ba te tLLP
m on
he
rlt
425 Le ngt n Ave
xi o
nue
New Yor NY 1 7k,
001 3954
212455-3040
Emal d l@ sba c m
i: wol t lw.o
PRO HAC VI
CE
A TTOAXF 1 FO BE N O TI
'
CED
John B l r H ut on ,III
ai
t
G r nber Tr r g
ee
g au i
1221 Brckel A venue
i l
htps/ec . s cr 1. i c - iDkt . ?
t :/ ft d.icl dc gibi
l
Rptp) 507075651 951 L 9999 J 1
61 2-
9/ / l1
8 20
CW ECF -Li Da aba e -fs D oc Re t
ve t s l d- ket por
P
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 6 age 5 of 14
of 28
M im i FL 331
a ,
31
305- 0788
579Fa 5 071
x: 79- 7
Emal h to j ta c m
i: utn @g lw,o
XTI
DRNE Y TO BE NOTI
CED
Jus i S.st n
tn
er
Si on Tha he & Ba te tLLP
mps
c r
rlt
425 Le ngt n Ave
xi o
nue
New Yor NY 1 7k,
001 3954
21 455 7663
2- -
Emaljtr@ sba c m
i:sen tlw.o
TERM I TED:03 0 / 0
NA
/ 9 201
PRO HAC VI
CE
. 1 D RNE F TO BE NOTI
yTI
CED
Lia H .Rubi
s
n
Si on Tha he & Ba tc tLLP
mps
c r
rlt
425 Lexi
ngton A venue
Ne Yor N Y 1 7w
k,
001 3954
21 455- 39
2- 71
Emallu i @sb a c m
i:r b n tlw.o
PRO HAC V CE
I
WTTOS NFF TO BE NOTI
CED
.
Thom asC. c
Ri c
Si on Tha he & Ba tet LLP
mps
c r
rl t
425 Le ngt A venue
xi on
Ne Yor NY 1 7w
k,
001 3954
21 45 30
2- 5- 40
Fa 21 455x: 2- 2502
Emal tie sblw.o
i:rc @ t a c m
PRO HAC VI
CE
A H ' . r TO BE N O TI
O RNS
CED
D ef
endant
Bar l ysBank PLC
ca
rpr s nt d by Cr g Vi ntRasl
e ee e
ai nce
ie
( e a ov f ra d e s
S e b e o d r s)
fEAD WTTOAVFI
'
A ITOR NEY TO BE N O T CED
I
M ark Da d Bl
vi oom
( a vef a es)
See bo or ddr s
LEAD aITORNE F'
d
4H ORNEF FO BE NOT CED
I
,
D a d J. ol
vi W l
( a f a es)
See bove or ddr s
PRO HAC VI
CE
y H ORNEY TO BE NOTI
1
CED
htps:/cffs .cicl1.
t /e .ld r dc&cgibi kt .p1 507075 6l 2- 9999
- n% Rpt ?
651 951 L
1-1
-
-
9/ 2011
8/
(M /
- ECF -Li D a a s -f s D oc tRe r
'
ve t ba e l d- ke po t
Pa 6 of 1
ge
4
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 7 of 28
John B l r H ut on ,I I
ai
t
I
( a
See bovef addrs)
er e s
gIWO.N EY TO BE N OTICE D
1
R
-
Jus n S.St
ti
ern
( ea
Se bovef ra es)
o ddr s
TERM I TED :03 09 201
NA
/ / 0
PRO HA C VI
CE
A T7'
OAXF i FO BE N O TI
r
CED
Li a H .R ubi
s
n
( a
See bovef a es)
or ddr s
PRO H A C VI
CE
AH ORNEY T0 BE NOTI
CED
T hom as C .R i
ce
( a
See bovef a es)
or ddr s
PR O H AC VI
CE
z rfo #vfr FO BE NOTI
l '
CED
D e endant
f
D t s he Bank Tr tC om pa
ut c
us
ny
A m eri
eas
r pr e e by Crai Vi entRasl
e es nt d
g ne
ie
( a
See bovef a es)
or ddr s
LEAD A I
TORNE Y
A H ORNEY TO BE N O TI
CED
M ar D avi Bl
k
d oom
( a
See bovef a es)
or ddr s
fEA D A TI RNE Y
D
, H ORNEY TO BE NOTI
,1
CED
Davi J. ol
d W l
( a
See bovef a r s )
or dd e s
PRO HA C VICE
zrfos- 1 FO BE NOTI
l
ff '
CED
z
John Bl r H utt ,I1l
ai
on
( a vef a e s
See bo or ddr s)
4ITORN EY TO BE NO TICED
.
Jus i S.St
tn
ern
( a
See bovef add e s
or r s)
TERM I
NATED:03 09 2010
/ /
PRO HAC VI
CE
AYTORNEY TO BE NOTI
CED
Li a H .R ubi
s
n
( a vef a es)
See bo or ddr s
PRO HA C VI
CE
ltps:/ cffs c r l. & c - a7 kt . ?
lt /e .l d, i cl dc gi bi D Rptp1 507075651 951 L 9999 1 1
6l 2-
9/ / 1
8 201
(M /
J
- ECF -Li D a a s -f s r oe Re r
ve t ba e l d- l ket po t
Pa 7 of 1
ge
4
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 8 of 28
AH ORNEY TO BE NOTI
CED
T hom as C .R i
ce
( ea
Se bove f ra es )
o ddr s
PRO HAC VI
CE
zH ORNEY TO BE NOTI
1
CED
Def
endant
The R oyalBank ofSco l P'
t and LC
.
r pr s nt d b Cr g Vi cntRasl
e e e e y ai nc
ie
( ea
Se bovefra es)
o ddr s
LEAD a I
d TORNEY
WrFoANfr FO BE NOT CED
I
M ar D a d Bl
k vi oom
( eabovef add e s
Se
or r s )
fEAD . Y' #. '''
d7 o N f 1
4I
TORNEY TO BE NO T CED
I
,
D a d J.W ol
vi
l
( a
See bovef ad e s
or dr s)
PRO HAC VI
CE
4H ORNEY TO BE NOTI
CED
,
Jo Bl r H ut o ,I I
hn ai
tn l
( e a o f ra d e s
S e b vc 0 d r s)
4H ORNE r TO BE N O T CED
I
-
Jus i S.St n
tn
er
( ea f a es)
Se bove or ddr s
T
ERM I T
NA ED:03 0 / 0
/ 9 201
PRO HA C VI
CE
AI
TORNEY TO BE NOTI
CED
Li H .R ubi
sa
n
( a
See bovef addr s )
or e s
PRO HAC V CE
I
a IVORNE Y TO BE NO TI
d
CED
D ef
endant
Sumpor o M is Banki
t aton
ng
Cbr iom i t ui
r pr s nt d by Robe Ge d Fr as o , .
e ce e
rt ral ac s Jr
Shuts& Bow en
t
201 S Biça Boulva d
s yne
e r
Suie 150 M i m iCe e
t
0 a
nt r
M i ,FL 331
ami
31
3 35805- 6300
Fa 381 9982
x: -
Emalrr c s o h tslw.o
i:fa a s @s u t-a c m
LEAD . H ORNEY
,
d
1
AI
TORNEY TO BE NOTI
CED
htps /ecft s c r 1 dc c - i D kt .pl 507075651 951 L 9999 l 1
t :/ . d. icl . & gibi
l
Rpt ?
61 2-
9/ 20 1
8/ 4
C' /
. ECF -Li Dat
M
ve abase -t d-D ocketRepor
ls
t
Page 8 of 14
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 9 of 28
Frederi D .H ym an
ek
M a r Br
ye own LLP
1 Br
675 oadw a
y
N e Y or N Y 1 9w
k,
001 5820
21 506 2500
2- -
Emalf y n@ma e b o c m
i:h ma
y r rwn.o
PR O HAC VI
CE
z I O RNEY TO BE NO TI
d'
T
CED
Jason 1.K i
rschner
M ayerBr n LLP
ow
1 Br dwa
675 oa y
Ne Yor NY 1 9w
k,
001 5820
212- 2500
506-
Emalj is h r yeb o c m
i:krc ne@ma r r wn.o
PRO HAC VI
CE
a YI RNE Y TO BE NO T CED
d D
I
Je M ari L.A t i
ane
am an
M ayerBr n LLP
ow
1
675 Br dw a
oa y
N ew Yor N Y 1 9k,
001 5820
21 50 2500
2- 6Fax:212261-1910
Emalj tmin@ma eb o c m
i:aa a
y r r wn.o
PRO HAC VI
CE
AITORNE J FO BE NOTI
'
CED
Def
endant
Bank ofSc l PL C
otand
r pr s nt by Crai V i entR a ie
e e e ed
g nc
sl
( a vef a r s)
See bo or dd e s
LEAD z IVO RNE Y
l
AH ORNEY TO BE NOTI
CED
H arol D ef M oorefi d ,Jr.
d
ore
el
St m sW ea M il W e s l r
ea
ver ler i se
Al def & Si t r on
ha f
te s
M useum Tow er
1 W Flgl rStee
50
a e r t
Suie 2200
t
M i jFL 331
ami
30
3 78905- 3467
Fax:789-3395
Em ai:
l
hrc r fedYse s a e .o
nl eîl t tm we v rc m
o
LEAD a TTORNE Y
d
A T'o s- F FO BE N O TI
T vf
CED
M ar Da d Bl
k vi oom
( ea
Se bovef a es)
or ddr s
htps/ec .l d.iel1dc c - &Dkt .pl
t :/ ffs cr . f gibi
Rpt ?507075651 951 L 9999 1 1
61 2-
9 8/ l
/ 201
CM /
ECF -Li D at e -f s locketRepor
ve abas l d-r
t
Page 9 of 14
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 10 of 28
fEAD WrFor fi
'
AI
TORNEY TO BE NOTI
CED
Ant
hony L .Pacei
one
Ka t M uc n Ros nm an LLP
ten
hi
e
575 M a s A ve
di on
nue
New Yor N Y 1
k,
00222585
Em ai :
l
D t o yp c i e k l nlw.o
h n .a con @ a e a c m
PRO H A C VI
CE
g ITO RNE Y TO BE N O TI
,1
CED
A r hur S.Li
t
nker
K a t M uc n Ros a LLP
ten
hi
enm n
575 M a s A ve
di on
nue
N e Y o k, Y 1
w r N
00222585
21 940 88
2- - 00
Fax:9407134
Emal atu .n e @ k te lw.o
i: rh rl k r atna c m
i
PRO HA C VI
CE
z H ORNE Y TO BE N O TI
l
CED
K ennet E.N obl
h
e
Ka t n M uc n Ros l n LLP
te
hi
e una
575 M a s A ve
di on
nue
N e Y o k, Y 1
w r N
00222585
21 940- 0
2880
Emalk n eh. bl@ k t na c m
i: e n t no e a t lw.o
e
PRO HA C V CE
I
W TTOANSF TO BE N O T CED
I
Thom as C .R i
ce
( ea
Se bovef a es)
or ddr s
PRO HA C VI
CE
. YID RNE Y TO BE N O TI
d
CED
l f ndant
lt ç
H SH N ordbank A G ,N ew Y ork
Br h
anc
r pr e ed by A rt H al e R i e
e es nt
hur
sy c
Ri Puga c Robi on & Sc le
ce
th
ns
hilr
101 N E 3 A venue
Suie 1
t 800
For La r l FL 33301
t ude da e,
305-3793121
Fa 305- 4119
x:
379-
Emal aiee f mrlw.o
i: rc .c@ sa c m
fEAD x ITORNE Y
d
- H ORNEY TO BE N O TI
4
CED
C r g V i entR as l
ai nc
ik
( a
See bovef ad es)
or dr s
h t :/ ffs cicl1dc
tps/ec .l d. r . icgib& Dkt . ?50
-i
Rptp1 7075651 951 L 9999 1 1
61 2-
9 8 2011
/7
CI ECF -Li Da a e -fs Dcc tRe t
W/
ve t bas ld- ke por
Page 1 of1
0
4
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 11 of 28
LEAD H rfosx f F
'
AI
TORNE Y TO BE NO TI
CED
A aron Rubi ei
nst n
K a Schol rLLP
ye
e
425 Par A venue
k
N e Y or N Y 1 22w
k,
00 3598
212- 8000
836Fa 21 836- 689
x: 28
Emal a u i ti ye c olrc m
i: r bnsen@ka sh e ,o
PR O HA C V CE
I
,1
ITORN EY TO BE N O TI
CED
Philp A .G eraei
li
K aye Schol LLP
er,
425 Par A venue
k
N e Y o k, Y 1
w r N
0022
21 8 - 000
2- 36 8
Emal p g rc@ k ye c oe .o
i: a ea i a s h lrc m
PRO HA C VI
CE
A TFOANF F FO BE N O T CED
I
St ve C .Chi
e n
n
K a Schol r LLP
ye
e,
425 Par A venue
k
Nc Yor N Y 100 3598
w
k,
2221 83 8
2- 6- 000
Emalse n.hi@ k ye c oe .o
i: tve c n a s h lrc m
PRO H AC VICE
ATI RNE Y TO BE N O TI
D
CED
W .St w ar W alac
e t
l t
K a Schol LLP
ye
er
425 Par Avenue
k
N ew Y or N Y 10022k,
3598
Emals l c @k y shoe ,o
i: wal e a c u lrc m
a
PRO HA C VI
CE
AI
TORN EY TO BE NO TI
CED
J ef nda
l e nt
M B Fi nei BankrN . .
na al
A
r pr e e by A l n S.G ol t i
e es nt d
vi
ds e n
Fun' Cohen
&
2255 G l s Roa
ade
d
Suie 337- One Boca Pl
t
W
ace
Boc Ra on,FL 33431
a t
561 395 0500
- Fax!3387532
Emala od t i f rc h nc m
i: g lsen@ u ro e .o
T RM I T D :01 19 2010
E
NA E
/ /
LEAD , TID RNEY
4
hlps /ec . s c r 1 dc c - & I Rptp1 07075651 951 L 9
i :/ fi d. icl . & gibi 7kt . ?5
t
l
61 2- 999 1 1
-
9/ 2011
8/
CM /
ECF -Li Daaba e-ls - oc tRe t
ve t s l d rl ke por
Pa 11of1
ge
4
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 12 of 28
/I
1 VORNE i FO BE NO T CED
'
I
G re y St w ar G ro s an
gor e t
sm
A s i r ga D a s M uli & Gr s a
tgar a
vi
lns
os m n
7 Brc l Ave
0l ikel nue
1 h Fl r
6t oo
M i , 331 ami FL
31 2847
305- 723 8282
Fax:3728202
Emalg r sma @atd vi.o
i: g o s n sia sc m
fEAD . TI RNEY
? D
1
1I
TORNEY TO BE NOTI
CED
.
/
Pe er J.R obe s
t
rt
Shaw Gus i Fihma Fl zW ols
ss s n ant
f on
& Tow bi LLC
n
32lN Cl r Stee
ak r l
Suie 800
t
Chi ago,I 60654
c
L
31 27 322
2- 6-1
Fax: 2- 0568
31 275-
Emalp o rs ha u ssc m
i: r bet@s wg si.o
PRO HAC V CE
I
A H ORNEY TO BE NOTI D
CE
Am i
cus
T erm Lende s
Te m Lenders
r
r
r pr s nt d b Davi Al n Rot t n
e ee e y
d a
hsei
Di ond Ka an & Rot t i
m
pl
hsen
2665 Sout Bays e D rve
h
hor i
PH2B
Coc
onutGr ,FL 331
ove
33
305- 19
374- 20
Fax:374-1961
Emai:drt t n@ dkr c
l ohsei
pa.om
AH ORNEY TO BE NOTI
CED
J.M i
chaelH enni
gan
Hem i Be t & Dor a LLP
r gan nne t
m n
865 S Fi
gueroa St ee
r t
Suie 2900
t
LosAnge e ,CA 9
ls
0017
Ema lh n g n h lwy r ,o
i: e nia @ bda esc m
PRO HAC V CE
I
A7 o#. J FO BE NOTI D
7- 5W '
CE
Ki k Dil an
r lm
He g Beme t& Do ma LLP
nni an l t
r n
865 S Fi r Ste t
gue oa r e
Suie 2900
t
htps/e ffs cr 1dc c - r t . ?507075651 951 1 9999 1 l
t :/ c .l d.icl i gibi/Dk Rptpl
61 2-.
.
9/ / 1
8 201
CM X CF -Li Da a e -fs l ke Re t
ve t bas ld.Joc t por
P
age 128 4
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 13 of 2 of 1
LosAngees CA 9001
l ,
7
21 694-1
3200
Fa 21 694- 234
x: 3- 1
Emal dlma @ h da e sc m
i: i nk b lwy r.o
l
PRO HA C VI
CE
/I
1 TORNEY TO BE NOTI
CED
.
Lore M i he Pr s
nz c l us
Di
mend Ka a & Rot t n PA
pln
hsei
2665 S Ba hor Drve
ys e i
PH 2B
CoconutGr FL 331
oye,
33
3 374- 920
05- 1
Fa 305x:
374- 961
1
Emallr s@d r ,o
i:p u s k pac m
W TI RNEY TO BE NOTI
D
CED
V.
Trust
ee
-
Sone tK apia,Tr t e
e
l
us e
c7 Stc erRi lBli & Pr s r
o iht ede a n
os e
P.A .
,
11 E.M a s Stee , Suie 200
0
dion r t t
Ta pa, 33602
m FL
( 3)229- 44
81
01
Cha e 7Tr teforFont ne e
ptr use
ai blau
Las Ve Hol gs LLC,e t/
gas ddn ,
t z,
D at Fied
e l
0// 0
77 09
02
#
D oc tT e
ke xt
f L'
(7(
Q % (' z
J +) py '
.
'
.
u
k LiC17ytoasricaoMootWid wRie(Complsat 2
' WCkut)r sti lftrtnom tcy M otfecPrnt tt 8
) Bnr (TDimtCour etBanl zptr er eui n o
a 5c n t
S pd
h a on n au) o
t
J
-
t aw Ref
hdr
erence,
ie (
J
c o
i t h
Ref t ncefld by BnBakSco l Moin( m iomo)os tdang
ee
ie
nkn rptand PLC, Sumpa tt Wi nki
of uty t Co tlnM i uiBarw
cor a i TheRo Balk ofSc lnd PLC, M erilLync Ca t l
por lon,
yal z
ota
rl
h pia
cor a i HSH Nor nk AG
por ton
dba
,
w
k anc , J M or n Cha e
h P
, N e Y or Br
ga
s
Bal N . ,Ba clysBa PLC, Ba ofAm e i a N .
rk. A. r a
nk
nk
rc ,
-.
/
.
i. ;lt''
tg r zv
It .
.- .- .
hE4OYC
-- ?
*
Tnsco ayAmeia ( tc met:# lpl ntf A.Detc eBnk
lt mp n
r sAt h ns
c a
,i uson s
h n
ai ifsDesgna i Lit #
t
gna e
s
; Pl ntf D esi t d D ocum ent Part1, # 7 Pl ntf' Desgna e ,
D ai irs
. ai ifs i t d
oc e sPa t2,# 4 Pl ntf sDesgnaed Doc e sPa t3, # j
um nt r
ai if
i t
um nt r
Res et M o i t W ihdr w Re e enc Pm 1 #
pons o ton o t a
fr e
,
M otc t w ihdr w Ref r ePart2
i Rcs et
pons o
im o t a
e enc
2 f nda ' De i i n, # 8
nts sgnato
, # ( De e
Pl ntf M e
ai irs m
o a ' ofLa i Suppo tofM oton, # 8 Tr ns it l
r ndlm
w n
r
i
f
a m ta
j- .
y-.' 1
r l
1
.
.
.
'
.
.
.
.
,
r m USBC)dcn)( ee 07/ /
o
(
Entrd: 072009)
77 N ol ! or ntng M oton f w ihdr w
ux' a î
R
i or t a
j ./I
.M
a o Rek e c r 1Ba k u ty
l f frn e e n rpc
(q i ( mpli )t W ihdr Refrnce Ban upty Moton
totcn Co ant o t aw ee , kr c
i
o lit t W i r w Re ee c tldb Bat o Sc ta d P ,
mpan ) o t a fr n e ie y r f o ln LC
hd
k
'
08/ 20
04/ 09
-
htpsr ec . s cicl1dc c - i Dkt .p1 507075
t / ft d. r . & gibi
/ l
Rpt ?
65161 2- 9999 1 1
951 L
-
9/ / 1
8 201
CM /
ECF -Li D a abas -fs Docke Re t
ve t e l dt por
P
a 28 4
ge 3
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 14 of1 of 1
Str t
zniomo M is Ba ng Cor ai , The Roya Ba ofSc lnd PLC
tui nki
por ton
l nk
ota
M e rl Lync Ca t lCor a i , HSH Nor nk AG Ne Yor
ril
h pia
por ton
,
dba
w
k
,
Br nch,J M or n Cha e Ba , N . . Ba vl ysBa l PLC , Bml of
a
P
ga
s nk A , r a
rk
k
Ar rea, . . Deut c B a TnltCo pa Am e i a , ( eOr rf r
re i N A ,
s he nk
s m ny
t c s Se de o
D
ai2 )
udge a
l
/ 2009 (qs ( tr d:
0e0 l).9 dby J AlnS.Godon 84/
8l5s0Si
/ / 0 gne
c ) En ee
.
- - :.'x
. -r .
:'
.
08 112009
/ /
A , rl
W 2 ' Notce ofSuppl ment Aut iy by Bank ofAm erca, N , .M er il
9, i
'
e
al hort
i
.
' Lync Ca t Com or ton, J M or Cha e Ban , N . . M B Fi nc al
h pial
ai P
gan
s
k A,
na i
Ba L N . . Ba cl ys Ba PLC , De s he Ba Tr tCom pa
rk, A , r a
nk
ut c
nk us
ny
Am e i ,TheRoya Ba ofSc lnd PLC , Sum io o M is Bp ng
rcas
l nk
ota
tm
tui nki
Cor a i Ba ofSc lnd PLC, HSH Nor nk AG,New Yor
por ton, nk
ota
dba
k
Br h( tcl nt:#lExhi tA,#1Exhi tB, # 7 Exhi tC,# 4
bi
bi
E anc Ata lme s
bi
x bi D, j Exhi tE, 6 Bxhi tF, 7 Exhi tG , # : Exhi tH,# %
hi t #
bi #
bi #
bi
E
bi
bi ,
bi ,
bi
2
bi # 7Exhi t
Jxbi t1 # 1QExhi tJ #11Exhi tK,# 1 Exhi tL, t. biM ,#
1) 0
xhi 9
bi
t
bi ( o m
0 /l/ 0 tN,# J Exhi (0,# 1û Exhi t?)B1 o Mak ( e e :
8J12bi ) 5
r ) Entr d
.
.
--
-
.
.
..
.
.
.
.
.
JJ' / (Y'; C
)
'
,
/
( .?
<(X
.
-'
-
0824/
/ 2009
J
@ fi TRANSCRI ofOr Ar e he d o 08 18. bef eJudge Al n S
PT
al gum nt l n
09 or
a
-
.
Gol Cour Re t : os ph A . M ilka 305- 558
d,
t porer J e
li n,
523- 8
)C
,
f
,
tncit yb ve dth cutul tr nlruc0pgsT e
r sr ma e i ateorpbi emiaopr6sdf.h
a p
we
c
1h e em
-a ar
o
.
M r M ilka bef r t de i f R e eas o Tr ns r ptResrci
ti ton.
Af. li n o e he adlne or l e f a c i
tr hat t t y
t
aned ihe r
PAIrt da ei ma beobt i et rfom M r M ilka ort ough
A
.
li n hr
- ER.
Reda ton Reque tdue 9/ 4/
ci
s
1 2009. Re t d Tr ns rptDe i
dac e a c i
adlne
s f 9/ 2009.Reea eofTr ns rptResrci s tf r 1123/
et br 24/
l s
a ci
ti ton e o / 2009
(m)( ee 08/ 2009)
j Entrd: 24/
08/ 2009
26/
cr()
r rc
-
67X ORDER Denyi M oton f Pa ta Summ a y J
L.
,
'
j
ng
i or ri l
r udgm e ;De yi
nt n n
-
.
.
g oin tp
i c- t
' '-v ,l. f
t''- - N
- .
j ,
f
g M oton
i
/ orc Or rDieci t Tur rofFundst t D c or ' tt
. de r tng he nove
n
o he bt s Esa e;
' De ng M oto f rExpedied Fii a Consde ai Dimisng
nyi
in o
t
lng nd
i r ton; s s i
M oton t Dimist Tur
k o s s he noverCli and Gr i M oton t Pe m i
am
antng
i o r t
Dic r I c nu t n wihteis a c o ti Or e
s ovey n o j nci
o t h s u n e f h s d r a Or e
, n
Re u
qi
dr
. .-
.
ltl '.
- .;at
'
rng Complanc wih S FI R,s l s
i
i e t
dso cyc nee c i tematrsalahalaebued. tute, abl
i vr o frn cn h .D. a.L.tk pbe ief r F rhra e
c
t hl e lc s o e he Honor
e
Ch
ri M .M cAll on Sept ber25, 2009 at2pm . Si
s
iey
em
S
.
gned by J
udge A l
an
#- Z'
-7
.
0 /0 2 0
92 / 01
.
.
.
-
G ol on 08/ 09. Uc ( e ed: 26 2009)
d
06/
) Entr 08/ /
W 3 t M Dl ORDER NUM BER 3 ; S I NG CLAI S
7
w
5 DI M SSI
M
Expe t A ppealofC l m - iposii Rulng 135 M otwihPrjm i et
die
ai D s tve i
i to Diudi o
on t e s
s c
**pl a e s e Or rf f t
z s e de or urhe
s
.
rdetis Si
a l**, gnedby J geAl n S. Gol on
ud
a
9/ 7 0
20 201
d
.
0/02 1
92/00
( ( ec 09/ / 0
gp) Entr d: 21201 )
@ x4 INyLJ
77 7 t UDGME ihrb etrdds siga o 10 cv-21879- I
NT s cey nee imisn din :9
-
-
- AS wi prj d c , twi u p eu iet t eTr se 'rg tt a e l
'
G, t eu ie bu t l rj d c o h u tes ih o pp a
h
ho
wih r pec t Count Iand VI o t Amende Co a nt l a c da e
t es t o
s
I f he
d mpli . n c or nc
wih t Cou f Or r t Pl ntfss lt ke no hi fom t sca e
t he
r s de , he ai if hal a
t ng r hi us . A 1
pa tes s l bea t i ow n cos s
r i ha l r he r
1
t . Si ned by D EPU TY CLERK on
g
1 / 8201
01/ 0
9/ 201 ( ( tr 09/ / 0)
20/ 0. gp) Eneed: 21201
@ l NOTI OFAPPEAL a t éz Or r,I J
39
CE
so
de y 38 udgme ,1 Or rby
nt 37 de
.
Sone tKapia,Tr t Fii f e $ 455 00.W ihi f ure n d oft
e
l usee lng e
t n o te ays he
.
flng da eofaNotc ofAppe , t a la m us c
ii
t
ie
al he ppel nt t omplt t El ve h
e e he e nt
htps/e fts cr l.dc c - n/ kt pl 507075651 951 L 9999 1 1
t :/ c l d.icl i gi bi D Rpt ?
61 2.
9 8/ l
/ 201
CM /
ECF -Li Da ab e -f s Doc Re t
ve t as l d- ket por
Page 1 of1
4
4
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 15 of 28
Cicui - r ns rptO r rFo m r r es ofw he he tans rpt ar be ng
r t ra c i
de r ega dl s
t r r ci s e i
or r d( s t FRAP 1 b).Fo i or ton got ourFLSD
de e Puruant o
0( 1 r nf mai
o
we ieunde Tr ns rp I or ai Appea Re or d by 11 1 201
bst
r a c i t nf m ton.
l c d ue
/ / 0.
thr,ua)( trd 1/82 1)
sap Ssn Enee :01/00
1/22 0
11 / 01
1122/ 0
/ 201
) : t Ct.k t
c(
'j t
y#
,
z
dw )
J x M OTI t Ame dco rc J ol nt Co r c o Mo t eRe o do
A4.
,
ON o
n / re t' i o re t r d# h c r n
M o
Appe 1y Ba ofA m erca N . . B a ofSc l nd PLC,Ba c a Ba
al 3 nk
i , A , nk
ota
r l ys nk
PL( ,Deut c Bn Tr tCom pa Am e i a ,H SH N or nk A G , ew
,
'
s he nk us
ny
ro s
dba
N
Y or Bl nc J M or n Chas Ba N . . M B Fi nci lB a N . ,
k ' h, P
a
ga
e nk, A ,
na a nk, A ,
M er ilLync Ca t Cor a i Sum iom o M is Ba ng
rl
h pial por ton,
t
t ui nki
Cor or ton,
p a i The RoyalBa ofScotand PLC . pons due by
nk
l
Res
es
1129201 ( t hmc s: JTc ofPr pos Or lHuton, ohnl
/ 7 0 Atac nt # . xt
o ed dert t J
( r 1112201
Emeed: / / 0)
%
W 1
48 ORDEF: antng l M otont Ame corec.Clr sNotc Fie mu t
gr i 44 i o
nd/ r t e k
ie: lr s
spa tl r /f t ame
e raey c- c he ndedpladigpur u t Loc Rul l5.,
e n
s anto al e 1
Nn/rx ct n vs or e bpt Judge. gne by J
t '
x he ie der d . he
Si d
udgeAl n S. d on
a Gol
1122/ 0.(qs ( ee 1123/ 1
/ 201 c ) Enlrd: / 20 0)
1 )NOTI OF CONVENTI
52
CE
ONAL FI NG o Ex bis( Boxes b
LI f hi t 2
)y
m .
113 201
/0/ 0
t)). t;
l - '4
t ,- (
.
t
'
, -,
.
..
.
z
e
.
Bar aysBank PLC,Deut
cl
sche Bank Tr tCom pany A m ercas,J M or
us
i
P
gan
Ch s Ba k N. , eRo a Ba ko j ta dPLC (q)( trd
ae n , A.Th y l n f joln
c s Enee :
1/021)r--, éy p/,v z
13/00 y,o ..( .t osa ( /'.
?
/J
-.
p
htps /ec . s cicl1 dc c - G ) Rptpl 5O7075651 951 L 9999 1 1
t :/ ft d. r . i gi bi kt . ?
l
61 2-
.
'
9 8/ 1
/ 201
CM /
ECF -Li D at ba e - fs n oc tReEntered on FLSD Docket 09/09/2011 Page 16 of 1 of
ve a
l u. ke
t
Page 28
Case 1:10-cv-20236-ASGs Document 68 por
A PPEAL,M D L,TEB
U . D i t i C our
S. s r ct
t
Sout r Dit itofFl i ( i i
he n s rc
or da M am )
A BR I G ED C I I D O C K ET FO R C A SE #:1: c 23835- SG
D
V L
09- vA
Int
ernalU se O nl
y
A ve CLO Fu Lt e a v.Sum iom o M is Ba ng
nue
nd, d. t l
t
t ui nki
Co por ton e a
r ai t l
A s gned t Judge Al S.Gok
si
o:
an
d
Ref r ed t M a s r t J
e r o: gi ta e udge - e E. a ta
F d B nds r
Le d ca e:1: m d- Qia s 09- 02t .
ASQ
.
Dat Fied:12/ 2009
e l
28/
D a e Te m i t d: / 3 201
t r na e 01 1 / 0
J y D e a Bo h
ur
m nd: t
N a ur ofSui :1 Con r ct Ot r
t e
t 90
t a : he
Jur s cton:D i siy
i di i
ver t
M em bercas
es:
1: cyz
09- lX835ASG
1: çyc
10- -20236- i
AS(
.
.
Cas i ot rcour:USCA,11 1
e n he
t
- 0468 A
N evada,2: cv09- 01047
Caus 28:331Fe Que ton:Brac ofConta t
e: 1
d. si
e h
rc
'l ntf
ai if
Avenue CLO Fund,l t
- d.
TERMI T
NA ED:03 10 2010
/ /
Cetre t t c tue ar
riid : !
e r l
t
c rc c y oftl t a n c fl
cre t or
ke cc ma t n i
:
St
even 2 . Larf e, Cl k
/
i
nor
er
S U. S. Ll q cttiur
)'l i t ,
ot
o h q . ' to- l ia
ut , ' j f ord
. b r
B
y
Dt
ae
(Z
w
/t
t wy
j
fg
eput Cl k
y er
r es ed by Bruce Bennet
epr ent
t
H er i n Benne t& D or an LLP
m ga
t
m
865 S Fi r St e t
gue oa r e
Suie 2900
t
LosA ngel CA 90017
es,
213694-1200
Fax:213-694-1234
A TTORNE Y TO BE N O TI
CED
J.M i hae H e gan
c l nni
H el i B ennet & D or an LLP
m gap
t
m
865 S Fi oa St
guer
reet
Suie2900
t
LosAnge e ,CA 9001
ls
7
Emal h n i a @ h dlwy r .o
i: e n g n b a e sc m
PRO HA C V CE
I
, TTORNE Y TO BE N O TI
4
CED
K i D il an
rk lm
He ga Be t & Dor a ELP
nni n nnet
m n
865 S Fi oa St
gucr
reet
Suie 2900
t
LosA ngel s CA 9001
e,
7
21 694- 200
31
Fa 21 694- 234
x: 3- 1
Emal d l n @ h da r.o
i: il k b lwyesc m
ma
PRO HA C V CE
I
zl
. TTORNE r TO BE N O T
ICED
htps/e .l d. r l. & cg - 2 D kt pl
t :/ cff s cicl dc ibi
V Rpt ?578936863563325- 9999 1 1
L
.
9 7 2011
//
C H ECF - Li D at e - l lDciket 68 Entered on FLSD Docket 09/09/2011 Page 17 of 28
ve abas
sr c
t
Page of
Case/1:10-cv-20236-ASG fDocumentRepor
( am ul M as e Fund,L.
n
os
tr
P.
r pr e ed by N i a J.Sa oro
e es nt
chol s
nt
Sant o Dt
or iggs W al K ear Johnson
ch
ney
& Thom ps
on
400 S 4t St eet
h r
Thid Fl
r oor
Las V egas N V 89101
,
702- 0308
791Fax:702791-1912
A TTORNE Y TO BE N OTI D
CE
J ef d S
) #n .
AS.
1 A
1Of
'
t natonaly'chart
: i l
r
ered Dtz/ u' his
tic i l
t
ptl ohc i Charote NC
'7? f e n
l'
7
l t,
D at Fied
e l
#
D ocketT ext
01 27/ l
/ 201
l1 TRAN SCRI ofO r lAr um e he d o 05. 1 bef r J
7
PT
a g nt l n 07. 0 o e udge A l n S.
a
G ol ' 63 pa s r 11lN otc ofA ppe l Co tRe t r J e A .
d, .
ge , e:
ie
a , ur pore : os ph
M ilkm, 05 5 3 5 8 1J sph Milk n@ ts .s o rsg v. e
l l 3 - 2 -5 8 oe
i
l a l du c u t.o Th
i
t a c i m a be vi w e att o t
r ns rpt y
e d he our publc t r i lorpur ha ed fom
i e m na
c s r
.. - -
j,)j '
V) g
-
MrMthatdatbi oetedaain fr lrom o T MnllkanRethrough.
. ùia eemr h obt l e otRees M r.aicitors it n
lkn f ay be edi eiher fae f r si p tci
l t
r
r o
A fer
t
ned
PA CER .Re cto R e
da i n ques due 2/ 2011. dac e Tr ns rptDea i
t
22/
Re t d a c i
dlne
s f 3// 1 Relas ofTr nsrptResrcto stf 5/ 2011 (m)
et or 2201 . e e
a ci
ti in e or 2/ .
( ec 0127/ 1
Entrd: / 201 )
' ' .
'-'N .
,
%
01 27/ 1
/ 201
11
8
.
i,, j , .
,.
'
-.'
,
i. t ( U'
!' ,
'
TR AN SCR I ofOr A r m enthel on 01. 11bef e J
PT
al gu
d
07.
or udge A l n S.
a
Gol , 32 pa s r 1l)N otce ofAppeal CourtR epor er Joseph A .
dy L
ge , e:
i
,
t :
-
M i iJ 3 - 2 - 5 81J s p M il a fs u c u t.o Th
l km, 05 5 3 5 8 o e h li n@ ldas o rsg v. e
l
k
tans rptm a beviwe att c r publct r i lorpur s fom
r ci
y
e d he ou t i e m na
cha ed r
Mr M ilkan bef ret deadlnef Rel aseofTr ns rptResriton.
li
o he
i or e
a ci
t ci
.
A ferthatdat i m ay be obt ned eiherf om M r.M ilkan ort ough
t
et
ai
t r
li
hr
PA CER .Redacton R eques due 2/ 2011.R edact TranscrptD eadlne
i
t
22/
ed
i
i
s f 3// l. l s ofTr ns rptRe titons tfr52/ 1 Um)
et or 2201 Reea e
a ci srci e o / 201 .
Uml(l ee 01272011
' intrd: / / )
htps:/ .l cicl1. Fcgi1i I Rptpl
t /ecffsd. r dcl -)i 3kt , ?578936863563325- 9999 1-1
L
9/ 2011
7/
CNI ECF -Li D at e -fsd. ocketReport
/
ve abas l .
rl
Page 1 of5
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 18 of 28
APPEAL,M DL,TEB
U . D i t ctCourt
S. s ri
Souf n Dit i torFl i ( i i
her s r c
orda M am )
A BR I G ED CI IL D O C K ET FO R C A SE #:1: cvD
V
10- 20236- SG
A
lnt
ernalU s O nl
e
y
ACP M ase ,Lt e alv.Ba ofAm e i a N. e al
tr d. t
nk
rc , A. t
Asin dt J d eAlnS. l
sg e o:u j a God
Re e r t M a sr t J e Ted E.
f red o: gltae udg
Bandsr
ta
Le c e:J; %- 021 . $Q
ad as 9. md- 0ir A.
J iditon: rlQuesi
urs ci Fedea
ton
Nl bercas
em
es:
l;-r vn--1 A SG
09 c 773 Jr
-
Dae Fie 0126/ 0
t ld: / 201
D a e Te m i t d:02/ 201
t r na e
09/ 0
J y De
ur mand:None
Naur ofSui: 0 Bn a Ba ng
t e
t 43
nks nd nki
-
L 1 :-202367 51
)4- :r
/
.
A
C' e i ot rc ! USCA,1l 10740as n he our :
AA
N e Yor Sout r 1: c 08
w
k
he n, 09- v- 064
Ca e:1 0632
us 2:
Pl ntf
ai if
r r s nt by Bre tM i hae A m r
ep e e ed
t c l
on
BastA m r LLP
on
One Sou he tThid Ave ue
t as
r
n
Suie 1 40
t 4
M i m i FL 33131
a ,
305 3 790
- 79- 4
Fax:305- 7905
379-
A CP M ast Lt
er, d.
Emal b mr @ba tmr nc m
i: a on sa o .o
LEA D A TI RNE Y
D
a H ORN EY TO BE N O TI
d
CED
D a d Par
vi
ker
K l nber K apl W olf& Cohen
ei g,
an,
f
551 Fi t Avenue
fh
18 h Fl
t oor
N ew Y or N Y 10176
k,
21 9862- 6000
. I
4 TORN EY TO BE N O T CED
I
'
(1'1u t t' : 1t- : (
)r1ti O '
)t ?
f'
? rp ; '
l n)
c r6 fr7..'(J;.u. - )'::n ( 'll '
O r:u -..r L . ' ' .:'! t L , t
r r y ) n . - ;!? t J'
r' .
- c '
St w n av. L(r7.)tr flikt
evd rl .i-kr w7fr
n ' ! 1- o
U .<. 1 q . ';x'..r!
i w .. . .t j a
J
.)
z
rou1.'r .- iA'c'of rl r(a
- Fe 1 s:r %
- . '#
) '
'o 11
x
7
1
$
e
f
By
zrv.
.
zy.'
,
.
.
. r-'
'. .,z -' .. .'.
- ..
-
(
j
j
' p.. ( -t # a y F
'
.. y- --, n ?
-.
,,
j ! j
'Dae k'-).y.tey -(.-7,;e k I
y
't / j. ,.
;
.
1
s
.
Jam e B.H e on
s
at
Ba ti Be H e m an Pa enc r & Scot
r lt ck r
l ha
t
54 W e tH ubba d St e t
s
r re
Suie 3
t 00
Chi
cago,I 60654
L
312- 4400
494z H ORNE l TO BE NO TI
1
r
CED
. .
..
- - . .w.- r
u ..,- - k
. .- .
John D .Byars
Ba ti Be k He m a Pal ncha & Seo t
r lt c
r n e
r
t
htps/ec .ld.ic1ldc
- :/ ffs c r . icgibT ' kt . ? 445
t
- i . Rptp170 399731
D
0874-, 9999 1 1
1
-
9 7 2011
//
CM /
ECF -Li Da a s ls l o 68 por
ve t ba e l d-l cke
t
Page 28
Case 1:10-cv-20236-ASG -Document tRe Entered on FLSD Docket 09/09/2011 Page 19 of 2 of5
5 W e tH ubbar St e t
4 s
d re
Suie 300
t
Chi ago,I 6061
c
L
0
3124944400
a H ORNE F FO BE NO T CED
d
I
V i e S. Buc ol
ne nt J. c a
Ba ti Be k He m a Pal nc r& Sc t
r lt c
r n e ha
ot
54 W es Hubbar Steet
t
d r
Suie 300
t
Chi go, L 60654
ca I
312- 4400
494- 1 WORNEY TO BE N O TI
gI
CED
Pl i t f
a n if
A ur lus Capi alM as er Lt
ei
t
t , d.
-
-
r pr e ed b Bre tM i hae Am r
e es nt y
t c l
on
( ea
Se bovef a es)
or ddr s
fEAD A TFOAAW Y
W ITO RNEY TO BE N O TI
CED
D avi Parker
d
( ea
Se bovefra e s
o ddrs )
A T'D #AW F TO BE N O TI
J
CED
Jam es B.H eaton
( ea
Se bovefra e s
o ddrs )
4I RNEY TO BE N O TI
TO
CED
a
John D .Byars
( ea o efra d e s
Se b v o d rs )
/ H ORNEJ FO BE NOTI
1
'
CED
V i ntS.J.Buec a
nce
ol
( ea
Se bove f ra c s
o ddr s )
AYID RNE Y TO BE N O TI
CED
De endant
f
Bank efA m e i a,N . .
rc
A
r pr s nt d by C r g V i entR a ie
e ee e
ai nc
sl
DLA Pi LLP(
per
US)
200 Bi ca Bl
s yne vd.
Suie 2300
t
M i m i FL 33131
a ,
305- 234 8539
F> 305- 81
x: 437- 31
Emal cagr sl@d a ie ao
i: r i a ie lpp r m
c
4H ORNE Y TO BE N O TI
CED
-
John Bl r H ut on ,1 l
ai
t
I
htps/e .l d.icll. & c - t t . ?
t :/ cffs cr dc gibi/Dk Rptpl 70445399731 74- 9999 l 1
08 L
-
9/ 2011
7/
CM /
ECF -Li D a a s - fs l ke R e t
ve t ba e l d-Doc t por
Pa 3 of5
ge
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 20 of 28
Gr nbe g Tr ur g
ee r a i
1 Brc l Ave
221 i ke l nue
M i i FL 33131
am ,
305 579- 0788
Fa 579x:
0717
Emal h to j ta c m
i: ut n @g lw.e
WI
TORNEY TO BE NOTI
CED
m lendant
f
M e ilLyneh Capia Co
rr l
t l rpor i
aton
r pr s nt d by Crai Vi entR asl
e ee e
g nc
ie
( ea
Se bovef addr s
or es)
WI
WORNE . T0 BE NOT CED
1
'
I
John Bl r H ut on ,III
ai
t
( e a vef ra d e s
S e bo o d r s)
4I
TORNEY TO BE NOT CED
I
,
D- pdant
e
JI M orga Chas B a N . .
'
h
n
e nk, A
r pr ent by John Bl r H ut on ,I 1
e es ed
ai
t
I
( a
See bovefra es)
o ddr s
4I
TORNEY TO BE NOTI
CED
.
.
D ef
endant
Barç a Bank PLC
l ys
r pr e e by John Bl rHuton ,l I
e es ntd
ai
t
I
( ea
Se bovef a es)
or ddr s
A H ORNE) FO BE NO T CED
'
I
De e
f ndant
D e s Bank T r t Com pa
ut che
us
ny
A m eri
cas
r pr e ed by John B l r H ut on ,I I
e es nt
ai
t
1
( ea
Se bovefra e s
o ddrs )
AH ORNEY TO BE NOTI
CED
ge endant
f
The R oyalBank ofScot and PLC
l
r es ed by John B l r H ut on yI
epr ent
ai
t
lI
( ea
Se bovef a es)
or ddr s
AITORNEY TO BE NOTI
CED
De endant
f
Sum iom o M i uiB anki
t
ts
ng
C'
orporat on
i
r pr s nt d by John B l r H ut on ,l I
e ee e
ai
t
I
( eabovef a es)
Se
or ddr s
zI
1 WORNE 1 FO BE NOTI
'
CED
.,
pe endant
f
Ba ofSc l
nk
otand
r pr s nt d by John Bl r Hut on ,l I
e ee e
ai
t
I
( abovef addrs)
See
or e s
4H O RNE Y TO BE N O TI
CED
z
I ef nt
l enda
I SH N or
I
dbank A G
r pr ent by John Bl r H ut on ,l 1
e es ed
ai
t
l
htpsit cfts cicll. i cgi1i 7 Rptp1 0445399731
t /e .l d. r dc
-)M kt . ?7
0874- 9999 1 1
L
-
9 7/ l
/ 201
CM /
ECF -Li Datba e-fs l ke Re t
ve a s ll-3oc t por
Pa 4 of5
ge
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 21 of 28
( ea
Se bovefra es)
o ddr s
lH ORNEY TO BE NOTI
CED
z
pe endant
f
h Fi
1B nancalBank,N.
i
A.
r pr e ed b John Bl rHuton ,I l
e es nt y
ai
t
I
( ea
Se bovef a es)
or ddr s
4TI RNEY TO BE NOTI
D
CED
-
Pet r J.Robe s
e
rt
Sha Gus i Fi hm a Fl nt W ols
w
ss s n a z
f on
& Tow bi LLC
n
321N C l r Stee
ak r t
Suie 800
t
Chi go,I 60654
ca
L
312276-1322
Fa 31 275x: 20568
Emal p o e t@ s a usi.o
i: r b rs h wg ssc m
PR O HA C VI
CE
dI
WORNEY TO BE NOTI
CED
,
J f
le endant
Cam ul M aserFund,L.
os
t
P.
r pr s nt dby Andr w B.K r e t i
e ee e
e
at ns en
M c e m ot W il& Em e y
D r t l
r
3 M a s A ve
40 di on
nue
N e Y or N Y 1 73
w
k,
01
212547-5400
Emal a ae sen@ mwec m
i: krtn ti
,o
PRO HAC VI
CE
WTFOAN' F FO BE N O TI
S
CED
John Bl r H ut on , I
ai
t II
( a
See bovef addrs)
or e s
1H ORNEF FO BE NOTI
CED
,
DaeFi d
t l
e
#- Dok t x
c e Tet
D%
.
.
.
01 1 201
/ 5/ 0
t
-'
/. k ''
0, ' /)
v'
& .
- ,
.-
't''
. '/
/.
'
.
,
t
3
- .
1
-
27Y. AM ENDED COM PLAI a e ngl compli t agans M e rl Lync
.,
t
NT m ndi
a n , i t ril
h
' Ca t Com or to J M o ga Cha e Bank, . .Ba c a Ba PLC,
pial
a i n, P r n
s
N A , r l ys nk
D e s he Ba Tr s Com pa A m e i s The Ro lBa of Sc l nd
ut c
nk u t
ny
rca ,
ya nk
ota
PLC,Sum iom o M is B a ng Cor a i Ba ofSco l nd,H SH
t
t ui nki
por ton, nk
ta
Nor nk AG, B Fi i Ba l N . .Camul M ase Fund,L. , nk
dba
M
nancal rk, A ,
os
tr
P.Ba
ofAm e i a, . .D oc entf l d b A CP M as e ,Lt ,A ur lus Ca t l
r c N A . um
ie y
t r dv
ei
pia
M as e , d.Re a e docum e :1 Com pl nt f l b A CP M ase ,Lt ,
t r Lt
ltd
nt
ai , ied y
t r d.
Aur il Capia M a t ,Lt (ma ( eed: / 9/ 0)
elts tl ser d. a ) Entr 01 1 201
N
,
02/22 1
2 /01
2j
j
PT
a gum t d
07.0 f e udgeAln S.
a
W ( h TRAN SCRI ofOr lA r en hel on 05, 1 be or J
.
!-.,. Gol 1 63 pa , e:58Notc ofAppea ,Cour Re re :J e A ,
k ,e
..
,
d, ges r
ie
l
t po tr os ph
y.
k'
-
,
M ilkk, 05 5 - 5 8/J s p M i ia @ fs u c u t.o . e
l c 3 - 23 5 8 o e h l k n ld.s o rsg v Th
in
l
,
(-QX
' M'
i
-
t
.
..
-
-
lk-t(-(
t . ..
.
.
ta ci ma b ve da t c u t ubi tr n l rp rh sdfo Mr
rnsrpt y e iwe the - r p lc emia o uc ae rm .
o
'
.
'y
y'
.,
.
.
.
M ilkf be or t dea i f Relas ofTr ns tptRe ti ton.Afe t t
li m f e he dlne or e e
a ci
srci
tr ha
1
.
cu i -,.:- - -- .
-,
ltps/ec ,l d. icl1 dc c - nr kt . ?7 45399731
lt :/ ff s c r . f gibi
Rptp1 04
0874- 9999 1 1
L
-
9 7/ 1
/ 201
CM /
ECF -Li D at
ve
abas Document 68 Entered on FLSD Docket 09/09/2011 Page 22 of 28of5
lsdPage 5
Case 1:10-cv-20236-ASG e - t n ocketR eport
dae i m a be o ai d eihe fo M r M ilka o tlough PACER.
t t y
bt ne t r r m . li n r lr
Re cton Reque tdue 3/ 8 201l. dac ed Tr ns i Dea i s tf
da i
s
1/
Re t
a crpt dlne e or
3/ 2011 Reea eofTrns rptRe titons tf 526/ 1 Oml
28/ . l s
a ci srci e or / 201 . '
( erd:0 22/ 1
Ent e 2/ 201 )
02 22/ 1
/ 201
z
h
x
67 'TRAN SCRI ofOr Ar um e he d on 01. 11be or J
PT
al g nt l
07.
f e udgeAl S.
an
Gol .1 32 pa , e: - Notc o Appe l Cou tRe re :J e A .
d. ges r (8 ie f
a , r po tr os ph
.
- -
'
--,z
1
s
r C. -.
N ilk n, 0 - 2 - 5 8/ o e h M il n fs u c ur .o Th
llia 3 5 5 3 5 8 J s p - li @ ld.s o lsg v. e
ka
t
tansrptma beviweda t c r publctr na o pu c e fo M r
r ci y
e
t he ou t i emi l r r hasd r m .
t( '?'
'../.
lT
't
r
diiabbrbandet rrmlsolTasrhrRsiinAfrht
stkmaeoehiednfoee e firncit etPAo..t ta
aetnyf otdaleoR MrM ilkan orpough c CER e
ll e te i f a
l
h
rt
t
,
Re ton Re td 3/ 8 2011.
daci
ques ue 1 /
Reda t d Tr c i De dlne s tf
c e ans rpt a i e or
..
,
4 ./ / 01 . la eo Trn ci Re tito s tfr52 / 01 . i
3282 1 Ree s f a s rpt srcin e o / 6 2 1 (m)
,'. ej (zttk. (nee : 22 /0 1
1Fq .. ' lx c s trd 0 /22 1)
k.j ( . u
t
t
-
.
htps /e .l d.i cl1. cg - & D kt . ?
t :/ cffs c r dc& i bi
Rptpl 70445399731
0874- 9999 1 1
L
-
9/ / ll
7 20
CNVECF -Li Da a e -ts Doc tRe t
ve t bas l d- ke por
Pa 1o f
ge
?
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 23 of 28
APPEA L,CASREF,J ,M D L,REF DI
G
SCO V
-
U . D i r ctC our
S. st i
t
Sout r Dit itofFl i ( i )
hc n s rc
orda M ami
A BR I G ED CI 1 D O C K ET FO R CA SE #:1: m dD
V t'
09- 02106- SG
A
I ernalUse O nl
nt
y
l Re:Fo ai bl a Ea V e Ctnt a tLii ton
n
nt ne e u s gas l z c tga i
As i dt J
s gne o: udge A l S.Gol
an
d
Rcf redt M agita eJ
e r o:
sr t udge. t n Goodm a
l ha
ona
n
M em be cas :
r es
Da eFie 1 0 2009
t ld: 2/ 2/
J y De
ur mand: ai if
Pl ntf
N at e ofSui 190 Cont act:Ot
ur
t:
r
her
J iditon: derlQuesi
urs ci Fe a
ton
1; 9r 238350 :47
A5G
.
1,.1 cv. 20236z 5f
9c
A. i
.
.
.
.
Ca e:28:331Fed.Quesi Brlch ofContac
us
1
ton: t
a
r t
JlRe
l
Fontai eau Las V egasC ontract
nebl
Li i on
tgati
Pl ntf
ai if
r pr s nt d by C.D ana H obar
e ee e
t
H er i Dorm an,LLP
m gan
865 Sout Fi oa Ste
h guer
r et
Suie 2900
t
Los A nge e ,CA 9001
ls
7
21 69431200
C a pi n A l L ong C re tFund,
s a
pha
di
L.
P.
Emalh b r@ h i g to c m
i: o a t dli ain.o
t
z H ORN E F TO BE N O TI
'
l
CED
C aro i M .W al e s
lne
tr
H e ga D or a LLP
nni n
m n,
865 Sout Fi oa St eet
h guer
r
Suie 2900
t
LosAngees CA 90 7
l ,
01
213694-1200
Emalwatrc l iain,o
i: l s @hdi g to c m
e
t
4I
TORNE i FO BE N O TI D
'
CE
-
C tl d (3 Lt ' tii Jnl
erii t l n gi 1t
o
! .)
c)rc c) y tf: c 1t; me top fil
C ù t t'' ' n :' L n
r
k )
1 :i
1t
.
St ben M .Lirl1,e, 'Ir ,
e'
li
''7cr - e '
w K
b G (! l':t ;,tr
.
) - . ; Jt c t
,I )
S'ut) 'D.t it c' FI'1 a
o ce
'
'
% rq . -(rd
ù'
$
y
/..., w;za . ;
- & . ,X , ,
' . y y-..D .
- , . Wz% e
.
'
. ,
.
Dai
t
e
--
.-- .
W
u
.
x .j ,wl j
ot . -j r
y j rjr
ayz
u .
- . - - . - ..
-.
..w
.
j
j
.
r
t
v .J . = w>v .
. =
=
=*xw+ mxx .v. -- 1
x. . -.
Da d A l R ot t n
vi an
hs ei
Di ond K apl & Rot t n
m
an
hs ei
2665 Sout Bays e Drve
h
hor i
PH ZB
Co
conutGr ,FL 331
ove
33
305374- 920
1
Fa 37 1
x: 4- 961
Emal d ohsen d mac m
i: r t ti@ k .o
A H ORNE Y TO BE N O TI
CED
h t r e .l d. r 1. cgibi ) Rptpl 69841
tps/ cff s cicl dci - M kt . ?
/
356093078 L 9999 1 1
2-
9/ / 1
9 201
CM /
ECF -Li D a aba e - fs Doc tRe t
ve l s l d- ke por
P
a 24 28
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Pagege ofrof -
f- (
?
425 Pa k A ve
r
nue
Ne Yo k, Y 1
w r N 00223598
Emal se e c i @ka e c lrc m
i: tv n.h n y shoe .o
PRO HA C VI
CE
ATTOANFF FO BE NOTI
CED
C o olD ef ndant
ns
e
Bof
A
a n i l c tr d bank w// is
atonaly hare e
r
, lt
-
man t/c? nCh ro t,
i a iti a lte NC
f
Am i
eus
Te Le r
rm nde s
r pr ent by Br t M i
e es ed
e t chaelA m ron
( ea o ef ra d e s
Se b v o d r s)
A H ORN EY TO BE N OTI
CED
Davi Al n Rot t n
d a
hsei
( ca
Se bovef a es)
or ddr s
A I RNEY TO BE N O T CED
VO
I
J.M i
chae H e gan
l nni
( a vef a r s
See bo or ddes)
PRO HAC VI
CE
AH ORNEY TO BE NOTI
CED
Lor M i helPr s
enz c
us
( a
See bovef a ts)
or ddr s
4I RNE F TO BE N O TI
WO
CED
-
D at Fie
e ld
#
lmz?2o09
2
C
D oc tT e
ke xt
r'..
.Cv
1 ' wxs' ORDER( td1/220)rm Jdcapnln
) I y
'
a ER
Dae 20/0 9fo u iil aeo
-
z M ull src Lii i ta f ri c et t eSout r DititofFl i
'
tditit tgaton r nsc rng as o h
he n src
orda
re:M D L Cas # 09- D e
M 2106 f cons î ed preti pr e di
or
oldat
ral oc e ngs
pur ua t 28 USC 1 a as i d t t Honor eAln S.
s nt o
407 nd sgne o he
abl a
/.
.
9 o,.
u.
t(tt
.
God
l.
( ge b o et . lrJ., tng r
S
l
( in d yR brL Mie.r Aci Chaimanoft Panel
A
he
l.
taz
l,hmems #IJ
: PML Se vceLit ( ( tr d:1 032009)
r i s) gp) Ene e 2/ /
'
.
1 X ) Second AM ENDED COM PLAm T, fl d by Ter Lender
J
ie
m
s A ss at
oci ed
041 /01
/ 52 0
7 : .t : (
xj
l.
-
0 . 82 0
2 1 7 01
/
'
'
)( t 'J
.
hr . '
k.q .,--'. v
- ,- ,, ktj.
. ' '. ,
!uk
'
'
'' '' .(
'
'-. ''1.
w . .'.
.- Ck -
-
'Cae: :9md0 16AS
ss 10 - -2 0 - G
,
.
19/ -38 5- 0
1 09- v- 8 - SG , 10 -v2 3 A5
: = 2l 79 A
( r s, r n )( tr d: / 52 0
P u s Loe z Enee 011 /01 )
'
Y
@ J( . MOTI t DimisSaeCo r Co lit 8 i 1O - v23 3 ON o s s tt u t mp an ( 4 n :9 c - 8 5 AsG)
v Amer d Compl nt
t
de
ai , ( 7i 1 1 -v 2 2 6 AS Ame d dCo lit
2 n :0 c - 0 3 - O) n e mp an
a dSu po to M e r n u o w b Bat o Ameia N . . Ba clj,
n p rin mo a d m fLa y r f rc , A , z ays
k
Ba kP De tc eBa kTr s Co a yAmeia, JpM or n Chas
n LC, ush n ut mp n
rcs
ga
e
Ba N. ,M e rl Lynch Ca t Cor a i Ba ofAm e i
nk, A. ril
pial por ton nk
rca A.
,
,
Ba ofSe lnd Brc a Ba PLC, Ca ul M a t Fu L. N , ,
nk
ota ,
lys nk
m os ser nd, P.
D
,
eu s he Bank Tr s Com pa A m e i s H SH Nor
tc
ut
ny
rca ,
dbank AG, J M or n
Ch e Ba N. ,M B Fi ncilBa
as nk, A.
P
ga
na a nk,
E
)
N. ,u tmoMiuBakn
A.Smi
o t i nig
s
htps /ec .ld. r 1 dc c - >Dk Rptpl
t :/ ff s cicl a/gibi t . ?69841
3560930782- 9999 1 1
L
.
9/ 201l
9/
dM , CF -Li Dat
J E
- /
ve abase -f s -ocketRepor
l d-l
l
t
Page ; f ' '
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page , - o28 25 of
'
E
k
7
/
-
'
4:
t'
h
:
Cor la i n e Roya Ba ofSc lnd PLC. Re pons sdueby
plr ton,
l nk
ota
s
e
3, / ) As oc ae Ca e :l:9- d- 06/ 2t10 s it d s s 0 m 02l ASG , 1: c 23835 ASG,
8
09- v-
1:0-v1 $ 20236z
ASG( 1 J ( eed:02/ 8201
Huton, ohnl Entr
1 / 0)
0 1 201
2/ 8/ 0
h.
I
Q 27' AFFI
DAVI sgnedby :Tho sC Ri r ( i 1:0-vT i
ma
ce.e 42 n 1 c 20236- ,
ASO
9. i 1: cv3 n 09- 23s35ASG,36i 109- 0 06n : md-21 ASG)MOTI t
ON o
.
DimtsStt Co r Co lit(4 i 10 -v 23 3 s s ae u t mpan 8 n :9 c - 8 5ASG)Ame d d
ne
Complit ( i 1:0-van ,27 n 1 c 20236ASG)Ame
ndedCo ant, and
mpli r
sx wtrï? Me andum o Jw MOTI t DimisSaeCour
'l l/t? mor
c
fL
ON o s s tt
t
Co lit( 4i 10 -v 2 35 AS Ame d dCo lit ( i 1:
mp an 8 n :9 c - 38 - G) n e mp an , 27 n 10c - 0 6 ASG)Ame d dComplit, n S p rinM e r n m o
v 2 23 ne
an, a d u po t
o mo a du f
1m4M OTI t DimisStl Cour Compli ( i 1: c 23835
7
ON o s s ae
t
ant 84 n 09-vAS Ame d dCo lit( 7i 11 e - 0 3 G) n e mpan , 2 n :9-v 2 2 6 ASG)Ame d d
ne
c Y
X
-
t k . ksx - '
a
' 1k.. V% u
h - .tk )t
N .A. Bat ofSc lnd,Ba c a Ba PLC
, rk
ota
r l ys nk
Co litadSp rinMe rnu o J b BakoAmeia
mpan, n upot moadm fL w y n f rc,
,
o
)(.fss.
- .'
(t
'w
De sheBa TnltCompa y Ameias HSH Nor nk AG, pM or n
utc
nk s
n
rc ,
dba
J
ga
.
.
''
A!
.c
-'
,
Ca osM ase Fu , L. ,
mul
t r nd P.
Chase Bank,N . ,M B Fi i Ba N . .M e rl Lync Ca t l
A.
nancal ak, A , ril
h pia
cor aton, Sumiomo M is Ba ng Cor a i
por i
t
t ui nki
por ton, Bako Ameia
x A Bar aysBark PLC,DeutcheBank Tr tCompany Am ercase,
n f i r JP
cl
s
s
us
,
M or m Cha eBank, . ., TheRoya Ba OfSc lnd PLC
gl
s
NA
l nk
ota
..
-
V: t,
j .
l -
( t ch e s # 1 Exhi tA- ,# 2 Exhi tA- , # 7 Exhi tA - # 4
At
bi 1
bi 2
E a m nt :
bi 3,
xhi tA- # 5 Exhi tB- # 6 Exhi tB- , # 7 Exhi tB- # 3 Exhi t
bi 4,
bi 1,
bi 2
bi 3,
B
bi
4,# 9 Exhi tB- # L Exhi tC,#1 Exhi tD, J Exhi tE, 12
bi 5, Q
bi
1
bi # 7
bi #
Exhi tF, J4Exhi tG, 11Exhi t AsocitdCass:109bi #
bi #
biHl s ae
e : md.
-
-
.
.
.
.
021 ASG,l: c 2383509- vASG , 1:0-v- 236( 06E
1 c 20 ASG( t J
Huton, ohnl
ne e 0 / 8201 )
tr d: 2 1 / 0
j9. RESPONSE i Oppostonr ( i 11 c 20236n
ii e 42 n :0-vASG , 36 i 1: mdn 09021 60 ASG,93i 1: c 238 ASG)MOTI t DimisStt Cour
n 09-v- 35ON o s s ae
t
Co an ( 4i 1O -v 23 3 - G)Ame d dCo an , ( i 1:0mptit 8 n :9 c - 8 5 AS
n e mplit 27 n 1
c -0 3 v 2 2 6 ASG)Ame d dCompan ,a dS p rinM e r n m o
ne
lits n u po to mo a du f
fc 5 OTl t DimisS eCo r Co an ( 4i 10 -v 23 3
w 1 ON o s s ut u t mplit 8 n :9 c - 8 5
AS pAme d dCo lit ( 7i 1 1 -v 2 2 - G)Amt d d
G) n e mp an , 2 n :0c - O 36AS
ne
com an,a dSu po to Me r n u o w M OTI t Dimis
it, n p rin mo a d m fLa
ON o s s
St
03/ 201
22/ 0
-
,
'
,
'
1c
::
i u ,
.
-
'
<. , : );,,k
1L. k -t
-
.
.
-
''-
: tjs-(L 1 '
h kwt
o
''
a e(our Compl i ( i 1: c 23835t - t
n
ant 84 n 09- vASG)A me
nded Compl i ,
ant
( i -11 c 2023627 n :0-vASG)Ame dCompli ,, and Supporton
nde
ant
i
.
. o2 ,
I <
Me i n 0/1> Co r ce oitO po iint Dee d ns' to t
mo a dum re tdl n p sto o f n a t Mo in o
.
.
D imi4 fl Te m Le r Cl msAgai tt Rev vng Le r fld by
s s
nde s' ai
ns he ol i
nde s ie
ACP 5s /c r
a t r Lt ,Aur i Ca t M a t , Lt . s oc aed Cas s 1:
s e , d,
elus pial s er d.A s i t
e : 09md- 06021 ASG,1: c 2383509- vASG , l 1 cv(
E
:0- 20236ASG( on, et
Amr Br t)
nt ed: / 201
er 0322/ 0)
0 / /01
3222 0
W.J) AFFDAVI i Op o io r (2i 11 -v2 2 6 ASG, 36 i 1: m dJ
I T n p st n e 4 n :0c -0 3 i
ln 09'
x -'
-
02l .
06.
ASG,93 i 1: c 23835ASG)M OTI t DimisStt Cour
n 09-vON o s s ae
t
Compl nt( i 1: c 238 ASG)Ame
ai 84 n 09-v- 35ndedCompli , ( i 1:0ant 27 n 1
cv
2 2 6 AS Ame d dCo lit, ndS p ri M e r du o
0 3 - G) n e mpan )a u po t
on mo an m f
ff M OTI t DimisS aeCo r Co lit(4 i 10 -v 23 35
z
w
ON o s s tt u t mp an 8 n :9 c - 8
ASG)ztme d d Co li t( i 1 1 - v 2 2 6 ASG)Ame de
t n e mpan ,27 n :0 c - 0 3 n d
co anya ds p ri nM e r n u o w M OTI t Dimis
mplit, n u po to mo a d m fLa
ON o s s
st
aec'u t mp an ( 4i 10 -v 2 3 - G)Ame e Co lit
t . r co lit 8 n :9 c - 38 5 AS
o
nd d mpans
( i l1 c 2023 ASG)Ame
27 n :0-v- 6ndedCompl nt, and su ton
ai y
ppor i
-
f
.
$ t'- k 'tk
'- ' '
'.
'
-
.
,-'E'
. ,
D ,
,
' -t
t-
-
T
' o.
-
<1 u'H
,
.'
,
htps/ec .l d. r 1dc c - & lkt . ? 41
t :/ ff s cicl . & gibi ) Rptpl698 3560
930782- 9999 1 1
L
-
-
9/ 2011
9/
CM /
ECF -Li D at e -fsd- ocketReport
ve abas l D
Page ' 5of ''7
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 26 of 28
Me r d m (
mo an u /1* De lr to o a sB. ao , 1 Op sn
ca a in fl me He tn II po ig
De ndant loi M oton t Dimist Te m Le rCompl nt ll d by
lè
s' nt i o s s he r
nde
ai s ie
ACPM aser Lt ,Aur i Ca tlM atr Lt .Ata hme s # 1
t , d. elus pia se , d.( tc nt:
Afi viContnuai AsocitdCas :1: md-21 ASG,1: c
tda t i tonl s ae
es 09- 0 0609-v2 8 5 , G,11 -v 2 2 6 ASG( o Br t ( trd: 32 / 0
33:5 :0 c - 0 3 - Amr n, et En ee 0 / 2201 )
)
5 ' RES
t)
PONS i S p r r 3 M OTI t Dim isStt Cour Compl nt
E n u po t e 6
ON o s s a e
t
ai
( i 1: c 2383584 n 09-vASG)Ame d Compl nt( i 1:0cvnde
ai ,27 n 1 - 20236ASG)Ame d dCo lit, n S p rinM e r n u o a
n e mpan,a d u po to mo a d m fL w
M OTII t DimisStt Cour Compli ( i !09-vCN o s s ae
t
ant 84 n : c 23835ASG)
Amc c Co an, 2 i 1 1 -v 2 2 6- G) n e Co lit,
nd d mplit ( 7 n :0 c - 0 3 AS Ame d d mp an s
andSu3o tonMe andum o tk M OTI t DimisSlt Cour
lp ri
mor
fLzp
ON o s s ae
t
( / 52 0
1 0 / 01
4
.-
Cz zu,
o
-Qk- '
V
,
J !
/
.
4tCut t
.' tk f
j
-7
-/
1(. *C
--J
/ *.'
(
-.
Co lit8 i 10 -v2 8 5AS Amed dCo lit(7i 11mpën (4 n :9c-3 3 - G) n e mpan,2 n :0
t
c 20 6 AS Ame d dCo lit, n S p rinM e r n u o
v- 23 - G) n e mp an ya d u po to mo a d m f
z wm el Me rn u i Fute sp ro pna t'on Moin
c py moa d m n rhr upotfDe d nsl it t s
o
t DimisotaTr Lcae Co plit tldb Bako AmeiaN. ,
o s 2s te em edr n ans le os se f Lc, A.
h Ba n
m
)
y n
r
Bank 0:sc l nd, r lysBa k PLC,Camul M a trFund,
.
'
y' t
;
'
.
.
.-..
.
.
1
.
P.
,
De s leBa Tr tCompany Ame i ,HSH Nor nkA G, e Yor
utcl nk us
rcas
dba
N w
k
Br nc J M or n Chas Ba l N . . M B Fi nci Ba , N . ,M e rl
a h, P
ga
e rk, A ,
na al nk A. ril
Lync Ca t Cor a i Sumiom o M is Ba ng Cor a i , The
h pial por ton,
t
t ui nki
por ton
RoyalBn o Sc lndPLC.( t J ( e e 04/ 201
nk f ota
Huton, ohnl Entr d: 05/ 0)
79 k M DL C'
,
RDER NUM BER EI
GHTEEN gr ntng i pa ta den ng i pa t
a i n r nd yi n r
'
N
(5 28/ 0
p/ 201
4C . VCE .
.
-' 6 - ' ..
Z /..
..
2 sm i i t Dimis e ntnq n oa t nd den ne n oa
1
o s
r i
r M otont
i
D iM otonaecours ;- a antit' r a xG vi 'i ER t71Avsxto
s stt
s
tcompli' Il ul
- x m
;
A 'xsw - To
m
.
..
/
. 1.
4 (.-'
- i &
Q,
t 1
coMp- x'; - l AuM luscAs si by JudgeA ln s.
lAl rcl xG
os
l
E gned
a
.
Gol o: 528201 ( ( e e 05282010
d 1 / / 0.bb) Entr d: / / )
(. 82 0
i/ /01
j2
hu .P.
c V C'
:'
)
-
tf-v. C't # .
gk
(8/ / 0
p 31201
,
C ) AME
Q
NDED ORDER r 7 O r ron M otont D im is,Or ron M oton
e ? de
i o s s
de
i
t DimisYaeCo rCo litSg e b jd eAln S.G q1 on
o s s t ut mpan. in d y u g a
d
5282 0. )( trd: /82 0
7 /01 ùh Enee 052 /01 )
eg / 2
/
.
m
.
,
.
.
a,
1 ' PA PERL ESS M D L ORD ER N U M B ER 31r 1 Notc ( he)fl by
30
e 24 ie Ot r ied
Sone tR.Ka l Fort r as sa e ofr or , co ms s l me a
e
pia.
he e ons tt d ec d t el hal et nd
c er: d s bm i pr
onf m u t opos l a pr pos d or r s ti f t a c s of
a s nd o e de s e tng or h our e
acton f a1 tu' cas no l ert Sept ber 14, 2010 at 12: p, .
i br l l ee es
at han
em
00 m
Thepr pos l s l i ude apl f t pr s r a i ofdocume sby 1
c a s ha l ncl
an or he e e v ton
nt
he
Tr se a da p o o e fna j d me t tep riswo dl t Cout
u te n ny r p s d i l u g ns h ate ul i he t'
ke
t e e.
o nt r The pa tess lf l a M o i f St t Conf r nc i t y a e
r i hal ie
ton or a us
e e e f he r
una t t agr e r gar ng how t emater s d pr e .. Si d bv
bl o e e di
hes
t s houl oc ed ene
h-
.
J e J ln S.Gol on 8 31201 ( s ( trd: 8312 0 J ( ((1. 6:
udg ka
d
/ / 0 mb ) Enee 0 / /01 )' t y )' /
sc e
j
- $
,
09/ 4/ 0
1 201
l V Uno pe M OTI t Dim is 1 Or r .t éNotc ( her Cl ms
35
ppts d
ON o s s 30 de j, '
;
ie Ot ) ai
r%JPtj dief Ex dt Ap a o a m- s stv RuigbySo e t
T/l ' u c o pe ie pe l fcli Dipo iie l
z
e
n
ne
R,Ka l Res e dueby 1 1201 t r Sus n)( ee
pia. pons s
0// 0 shap, a Entrd:
0/42 1) jss (c. - /
91/0 0
. ,, '
2
'(
09207 0
/ 201
W 1
39 MDL ORDER NUM BER 35; SM I NG CLAI S wihP eu c t
DI SSI
M
t rj die o
,
Expe l Appea ofCli - s ii Rulng 3 5- o i n t Dimis
die
l
am Dipostve i 7 M to o s s .
A*pl as s Or rf f rhe de a l**.Sine by J
e e ee de or u t r t is
g d
udge l S Gol on
pn
d
.
.
9212 0.g )( trd 0 / /01 ) j k t( ( : / 9 01 (p Enee : 9212 0 k , l)
/
hups,e fûs cr dc c - G kt . ?698 3560930782- 9999 1 l
:/ c . d.ic11, & gibi
/
Rptp1 41
L
-
9/ / 1
9 201
CM /
ECF -Li Da a e -l d- ke Re t
ve t bas ls Doc t por
Pa
of :
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page gb of 28 '
27
G
09/ 201
20/ 0
&
J
@ 41 FI
) NAL J
UDOMENT i he e y e e e dim isng aci 1: c 218
s r b nt r d s s i ton 09-v- 79,
v ASG, t p eu ie bu wi u p eu iet t Tr se 'rg t oa p a
wih rj dc , t t t rj dc o hc u tcs i h t p e l
ho
.
wil r pe tt Cot sla Vl oft Ame d Compl nt l accordance
tl es c o mt nd l he
nde
ai , n
wil t Cour' Or r t Pl ntfss lt ke no hi fom t sca e. A l
tt he
t de , he ai if hal a
s
t ng r hi us
l
pa te s l be rt i own c t . Si ne by DEPUTY CLERK Qn
ris hal a her
oss g d
92) 00(p (nee:92/00 d% g tcb 'FL
/(2 1.g)E lrd 0/12 l) '
/
5
' ' l( f /
l
-.
.
Z46 , Seca d AM ENDED COM PLAI R
NT
1 1
in
236 , 5G
e atng t Cas N o. 20 -4
l î o
e
09/ 201
237 0
sr y'
.
'. p
LCJ -U
- . a ans Fo ti be uLa Ve a Co rc Liiain fld i r s o s t
-' g i t n ane la s g s nta t tg to ie n e p n e o
or r a i M o in f Le , fl by Aur us
de
el
t
Ac:GrtrLt.AmrorBrt)(iedrd: / i2CapialM aser, Lta
lMa nt, d.to o , et Enee 0923 01 )t
se ng t n ave t
d,
/ 0
1/ / 0
006201
1 l '!J i t OTI frEnr of u g n u de Rue5 ( )( arilFial
%
51' o n M ON o ty J d me t n r l 4 b P ta n )
a d Me r d m ( 1* i S pn r T e efb Tem Le d r A m r
mo an u ,
/
n u o t h r o y r n es
Bn
on,
.
.
rt (nee:00/0t k t xc t ky: /-/v-.. -.
et s trd l/62 1)a , tc. ?oy '. ( = 2)
)- . r
c
-t
t'
.
.
1 25201
0/ / 0
@ t t M EM ORANDUM i Oppostonr 1 J ntM OTI f
t5
n
ii e 51 oi
ON
k
C
)
hi :
R :
/
(( t y y
,t . l
)o
-
o Enr o
r ty f
, J g n u d rRu e5 ( )( ta Fia a
ud me t n e l 4 b Paril n o ndM e r n u o w i
mo a d m fLa n
Su po tT e efb Ba ko Ame ia N . .Bank ofScotand Bar ays
p r h r o y n f rc , A ,
l
cl
B n PLC, Camul M astrFund, L. ,Deut che Bank Trus sCompany
ak
os
e
P.
s
t
- .
Ame ias Hsu xor nk AG , N ew Y or Br h, J M o gan cha e
rc ,
dba
k mw
P
Bank, x . . M B Fi nc alBa N . .M e rl Lync Ca rt Cor s a i
A ,
na i
nk, A , ril
h pial por ton,
RoyalBa l ofSc lnd PLC, Su iom o M is Ba ng Cor a i
rk
ota
m t
t ui nki
por ton
2-,t.f'fl !( - x
t--)
/ J)
.
.
( sl Cr g)( ee 1 25201
Ra ie, ai Entrd: 0/ / 0)
.
l104/ 0
/ 201
17q RESPONSE i Suppor r l tJ ntM OTI f Enty ofJ m e
:
n
t e j oi
ON or r
udg nt
2I(
zz
,
' u d rRue5 ( )( rilFia)a dM e r n u o a i Su po t
n e l 4 b Pa t n l n mo a d m fL w n p r
a
y
,
g*.(,#t(y&
,t u -/ t
7
a
T e effnr Le d r ' pl Me r n u i Fu trSu po t fldb
h r o l m n e s Re y mo a d m n re p ro ie y
e
%
'
'
-
'
.
.
.
'
-
.
-
$ s,ts' k tl t ..
--
-
01 1 2011
/ 3/
.
.
ACP M aser Lt ,Au ei Ca t lM a t r Lt ,AvenueCLO Fund Lt .
t , d. r lus pia s e , d.
d.
,
-
&
'
' 70lA M DI ORDER NUM BER 44;Gr ntng 151J ntM o i f Enty of
A
.
a i
oi
ton or r
/ f ri Fi lJ
Pa tal na udgme unde Rul 54( TheClr i diece t ene
nt r e b)
i
ek s r td o tr
n lud me ti fvo o De e d nso Cli 1, 11 andIV oft
a j g n n a r f fn a t n ams I 1,
he
> -
h Q'
V-
.
@
'
s.- /( r( ( (
;.
'(u . 1 (
l '. I
'k
Se nd Amende Co ai i AvenueCLO Fund Lt ,e a v. a of
d mpl nt n
A co
d. t l B nk
,
.
.
m er ca,N . . eta1,Cas N o.
i
A,
.
e
t
'
c 238
ai
t Ame d dCo an i ACPMatrLt ASG and Cl m sA andi1of
he n e mplitn 09- v- 35- etalv.Bank of1m er1
se d.
,
ca
,
N. ,e a , Ca eN o 1 c 20236A. t 1, s
0- vASG *# e s s e Or rf f t r
pl a e e de or urhe
a tis '
eat+
O
sg e b g d eAlns. l o 11 /01 (p ( trd
in a r u g a oqd n /32 0,g ) Enee :
'
((l.
kxt
: , Jt
' -
t
'
'
-
( o , Brt)( eed:l104/ 0)
Amrn et Entr
7 201
,
-
,
..
01 1 2Q11
/ 3/ /
,
- 11/(1 c.e =t., (r (-(if t.
/à2) ) '- , (at, ( '(oq'-I l re
)
. s ; -y
( , j
)
f'
p
3 02 ENTRY OF PARTI FI
AL NAL J
UDGM ENT Si d by DEPUTY
gne
:t4 i6tH- 4(
/ CLEI
A
.
.
K on 11 2011 ( ( ee 01 1 2011 $rt ,,..
/ 3/ . gp) Entrd: / 8/ ) :
' à--j - ?
. q .- '
:J E
j/
, ,.(, ( ( )
>
/p , ., .. j ( .
(
j %
011 2011 ' 203' NOTI OF APPEAL (eeme rc s 0923835 f a1 appealr l t d
/9/
x
)
CE
s
mbe a e
or 1
eae
' doc n s ast 291 Or ronM otonf Enty ofJ m
ume t) o
de
i or r udg
5 b) Or r M oi e r
4(
ntunde e
u me
r ee4 b , rRuln
CC C
l
Moi,nfde ony oton frEnty ofJ dg ntunde Rul 5 ( ) Or e o
tl o Enr fJ
t r t
dr
udgme unde Rul 5 b) 202J
nt r e 4( s
udgme b Ave
m y nue
i/
CLO I Lt ,Ave CLO V, Lt ,A venueCLO V 1 Lt ,Batalon CLO
nue
d.
Lit. '
<
2007 V, d.
da t i
,
.
.
'
.
.
'
.
.
,.
-
'
,
1Lt ,BrgadeLe r d Ca t Stuc ur sFund Lt ,Canpa t s
d. i
ve age pial r t e
I
d.
rner
,
lve t Lnt I LLC,Ca orFiz ad Se iis Ca
l sl e s V,
m
nt t ger l curte , nyon CapialCLO
23
04
t
t ,Ca
d. nyon Ca t CLO 2
pial
006 1Lt ., Canyon Ca t lCLO 2007
d
pia
..
ltps /ec ,l d.cr 1. & e . a' Rptpl
lt :/ ff s icl dc gibi Dkt . ?69841
3560930782L=9999 1 1
-
9/ / 1
9 201
CI ECF -Li Da a e -fs l ec tRe t
W/
ve t bas ld-l ke por
Pa
ge
of
Case 1:10-cv-20236-ASG Document 68 Entered on FLSD Docket 09/09/2011 Page 28 of 28
&
ê
o
1Lt ,Ca
d. nyon S cilOppoMuniisM a trFu ( nyon) Lt pCa pi
pe a
te se nd Ca
, d. s an
Al long Cr tFund,L. ,Ca pi n Ca t Pa me s L. , Ca pi
pha w
edi
P. s a pial r r , P. s an
Co por t Loa Fund,
r ae
n
LLC ,Cas a Se e tCr di M aserFund, Lt ,
pi n l c e t
t
d.
Cas al Solt M a t Fund,L. ,Ge s s CLO 2007-1Lt ., l G
pi ) iude s er
P. ne i
d N
ltr tona (1 -Se o Ba Loa Etr I l sme M ana me
nenai l 1) nir nk ns lo,NG nve t nt
ge nt
z.
-
Vf n
, <--
'
CLO 1 Lt ,I G I s m e M a gem e CLO 1 , Lt ,F I ve t e
, d. N nve t nt na
nt
l d. NG n sm nt
M a gem e CLO 1 1 Lt ,l G I t e M a em e CLO l , Lt ,
na
nt
1 , d. N nves m nt nag nt
V d.
I G l e t en M a ge en CLO V ,Lt ,I G Prm e Ra e Tr t I
N nv s m t na m t
d. N
i
t us , NG
Seni I om eFund,M a i rLD C,M a i rOppo unii Fund, LP,
or nc
rne
rne
rt tes
M onar h M a t Fundi Lt , m a HilM ase Fund, L. ,O l pi
c
ser
ng d,Nor ndy l
tr
P. ym c
CLO I't ,SPCP Gr
L d.
oup,
LLC,San Ga i CLO ILt ., Se n Ca t l
brtl
d oggi pia
M ana m e 1 LLC,Sc gi I em a i lFund Lt Scoggi W o l de
ge nt 1
og n nt tona
d,
n rdwi
Fund Lt Sha t CLO IL1 ,Si raCLO 1 Lt ,Sol Lt , Sol Cor
d, sa
d. e r
1 d. a d
us e
Oppor a tesM a t rFund Lt St Li Porf i L. .: Vee Cas Fl
pnii
se
d, one on tolo P
r h ow
CLO ,Li ied,V e Ca
m t
nor phalM a t rFund, Lt , nm r 1 CDO 2002,
se
daVe e 1
Li t c,Ven ur IICDO Li ie Ve ur I CDO Li ied, V ent e I
mie t
t eI
m t d, nt e V
m t
ur X
CDO Li ie Ve ur V CDO Li ied, t eVlCDO Li ie ,
m t d, nt e
m t Ven ur
m td
V e lur V I CD O Li ie V en ur V I ICD O Li ie , V i t Le a
lt e l
m t d, t e 1
m t d s a ver ged
'
>' (?bl i
. !t- ty
u ( uc
f
dy o tein dto a t e f pa t appelantmustcomplet
as fh fig a f Noi o Apelhe l
l e
c
e
j t I. .
s - t .,
J
k- t-r -'à
t Elve h Cic tTr ns rptOr rlor r r e sofwhe he
he e nt r ui a c i de 2 m ega dl s
t r
-.
-%
.
t=- t
' .
- 4
',
'
..
.
02/ 12011
1/
LD
ze(.
.y
t L I -lb 2
>
--
. .
-
l
ncomeFund,W hine CLO ILt Fii f e $ 455. W ihi f ure n
t y
d. lng e
00. t n o te
,
ta s rp sa eb i go d r d( ru ntoFRAP 1 ( ) Fori or i n go
r n c it r en r ee Pu s a t
0b)
nf mato
t ot FLSD w e ie unde Tr ns r ptl or a i t us, e l xt
o z
r
bst
r a c i nf m ton pr s LornzM
re
odfe o 1202 1(q ) ( trd: / 92 1
iid n / / 01 c s. En ee 01 1 / 01 )
@ 208 NOTI OF APPEAL ast 202J
CE
o
udgme b ACPM ase, Lt ,Aur i
nt y
tr da elus
Ca tlM a tr Lt (ora a doc
pia se , d.f ppe l uments membe c s 09 v23835
ee
r ae c
a 1
nd 0cv20236)Fii fe$455. W ihi f te da oft flngdae
lng e
00. t n oure n ys hc ii t
o
i fAp e l h a la t s o lt 1eElv nh rut
c
p a, e p
mpee
TfaNot eoderFonutegarpeln mutcrtanscrh sae e t Cic i d
r ns rptOr
a ci
r dl sofwhet r
es
he
i r beng or r
pt e i
de e
g s tt lRAP 1 b).Fori onuai got ourFLSD we iet r
puruan o 7
O( )
nf ton o
bst mde
Tr s rp I onnain.( on,Brtl M odiidon 2 l12011( )
an cit nf to Amr
etText
fe
/ /
cqs
( erd:02 112011
Ent e / / )
,
.
.
htpsr/ cff s cicl1 dc
t /e .l d. r . icgibi kt . ?
- e
Rptpl 69841
356093078 L 9999 1 1
2-
9 9/ l
/ 201
Case 1:10-cv-20236-ASG Document 70 Entered on FLSD Docket 09/23/2011 Page 1 of 1
%
#
UN I
TED STATES D I
STRI CO URT
CT
S F HERN DI TRI OF FIORI
OIT
N CT
. DA
'
FL b / -DC. prlsco
IED y .
/
pa ctl
s il
KTEVEN M.L'RI
N MORE
-
.
Cl kofCo t
cr
ur
Dat :
e
9// 011
92
SEP 2 3 2 1
21
STEVEN M LARI RE
K
CL
ERKU à Dll CT
s
s. o//, MKMI
D.f t -
Clrk Unie St t sCou to App/ s
e . td ae
r f
al
Elve h Cicti
e nt r lt
56 For yt St e t N. .
s h r e, W
A tan ,GA 3030
l ta
3
I RE:
N
CORG O A
oe e l : Ca ne CL Fu d an Brc de L ve a d Ca t l . Ban o Ame ia
f ndint
v u O n d ia e r ce pi v
a
k f rc
Ditco tNo:0 - 87 - - Asq
s. ur
921 9CV
092 835CV ASG
-3 -
1 -02 - ASG
02 36CV
I S. A. No: 1 - 492 J. C.
0 1 5 AA
1 -0 1 1 468AA
1 - 07 1 1 40AA
St e: FONTAI
yl
NEBL
EAU L VEGAS LL V.
AS
C BANK OFAMERI
CA,
C ERTI CATE O F READ I ESS AND TRANSM I
FI
N
TTA L O F RECO RD O N APPEA L
Puruan t Fe R.App P.l () t eClr o t Dit itCo tf t Sout r DititofFl i
s t o d,
. Ic, i c k f he sre ur 0r he he n src
orda
he e y c r ii st at a s own o t e e l e i x t r c d i c
r b e tfe h . s h
n h ncos d nde , he e or s omplt f pu pos so t s
e e or r e f hi
app alTher c d (ncl n t tans i orpa t t r o dei t fri lsonan al
e.
e or i udig he r crpt
rs he e f sgnaed o ncu i d I
ne es ye bis c nssso:
c sar xhi t) o it f
3 Vol t)pfpladi
umes
e ngs
3 Voumes o Tr ns i s
l l) f a crpt
Ex bis
hi t :
2 bo s
xe ;
f de s
ol r ;
0 e eo s
nv l pe ;
0 PSI (e e
s sald)
r o b r:
-l t e
e M h : ()Bp :pfEx i t DC#1i Q v21 79
er 2 xv
hbi
s
;, $ç y
()Ot r ()Ac FoIer,9c 21 79DE#2,1 09 21
W he : 1 c. d s0 v 8
() md 06
U er
:
(fli;' t. ' tt:3r7
;-f' k t
,tir
?
.
a t rJ (
f I
C) 6 t2 ;f O ! / '%- r( ttl t1
tr ' :)' l . ..t' a 'l It
k C 3 b - 'vJQ R 1 :
-'
l
n e y.'f ' ,jyj cr ,rye,
cr t. l) .r; , .(.
'L p u a e ntk
%!
e e 5 .tà ' - vcl '.
v n 1 dl ' er
n t k
ul
t
S.tt 6r Di+ ., Of FIrr2
3- h 'f k u
i
;
Oi
j
'
1
.
-
. .
v
*
:
e- J
':D u ' 1 iepL h tI% k
.
C
)
. ? j . ir
,
D3t
p
A t ment
ach
c:courl1I
1e
'f.
-
1 4 N.M i Av
' 00
ami enue
,U
M i ,F1331 7716
ami
283 5 - 80
05- 23 50
-
.
.
-
-
.
..- .... ,
.
L- 2 9E.Br wa d Bo lv r
- 9
1
o r uead
Ft Lau
. derdal,FI 301
e 33
9 - 69 541
54 7 - 3
S/ A- 5
F 1
Re l 94
v. 0/
7 Cl ma i St e t
0I e ts r e
W e tPa m Be ch,FI 401
s l a
33
561 8 - 08
- 03 34
Case 1:10-cv-20236-ASG Document 73 Entered on FLSD Docket 05/16/2013 Page 1 of 1
UNI
TED STATES COURT OF APPEALS
FOR TI E ELEVENTH CI
I
RCUI
T
ELBERT PARR TUTFLE COURT OF APPEALS BUI NG
LDI
56Foryt Stee,N. .
sh rt W
Ata a, r a30
lnt Geo gi 303
Fo r l an f msvii
r ues d or st
%'%N(211t ()1( jfï
h5';' 1 ; 1:S ))'
: t s( '
J hn Le
o
y
Clr ofCour
ek
t
M ay 08,2013
FI b
LED y
St
even M .Larm or
i e
U . D i ti tC o t
S. sr c ur
400 N M IAM IA VE
M I I FL 33128-1810
AM ,
<' o.c.
'
M#f 15 2 1
23
S ERKu àL MORE l
CL V M ARI
TE EN
s
a s' cT. ï
r
D. f L .Mkw 1
o # X.
r
.
.
A ppealN um ber: 1014925- A ;11A
10468 - A ;11A
10740 AA
Cas St e: SoneetKapll Trus ee v.Bank ofA m eri N . . etal
e yl
ia,
t
ca, A ,
D i ti tCotr D oc tN o: 1: cv- 879- SG
s rc
lt ke
09- 21 A
Se nda y Ca e N um be 1: m d- 06- SG
co r s
r: 09- 021 A
The f l i recor m at ri s i t ref enced cas ar r ur herew ih:
olow ng
d
e al n he er
e e et ned
t
Si V ol esRecor on- ppeal
x
um
d- A
.
Si
ncerel
y,
JOH N LEY ,Cl k ofCourt
er
Re y t W ilM il r
pl o: l le
'ZQJ
(* JZO i plu l=r tQ /'
. p
( ) /tw .
3 . %
I
(
àô
X
zec tt. w :
p -7
z
tt. l
M
I -, - C- t l */ t YZ,3
,)W
J
n'
v
& &2 V' /
J
Pho #:(
ne 404)335- 5
611
REC- Lt Re unlng Rec d t D C
3 r t i
or o