Phoenix Light SF Limited et al v. Wells Fargo Bank, N.A.

Filing 636

ORDER: Today, the Court of Appeals for the Second Circuit issued a summary order affirming Judge Broderick's March 18, 2020 and August 12, 2020 orders in Phoenix Light SF Ltd. v. U.S. Bank Nat'l Ass'n, 14-cv-10116 (S.D.N.Y.). See Ph oenix Light SF DAC v. U.S. Bank Nat'l Ass'n, 20-1312 (2d Cir. Oct. 4, 2021) (summary order). The parties are ORDERED to meet and confer to discuss how this decision affects the claims brought by Phoenix Light in this case. To the extent P hoenix Light believes that there remain open issues for resolution (including with respect to the motions to exclude expert testimony), it shall so state with specificity. To the extent the parties believe a stay of this action to reengage in settl ement discussions is appropriate, the parties may make an appropriate application. With respect to the claims brought by Commerzbank, the parties are ORDERED to meet and confer to discuss whether the Court of Appeals' decision affects its clai ms in this action. Similarly, to the extent the parties believe a stay of this action to reengage in settlement discussions is appropriate, the parties may make an appropriate application. The parties are ORDERED to file their letter submissions no later than Thursday, October 7, 2021. (Signed by Magistrate Judge Sarah Netburn on 10/4/2021) (ras)

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
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10/4/2021

PHOENIX LIGHT SF LTD., et al.,
Plaintiffs,

14-CV-10102 (KPF)(SN)

-against-

ORDER

WELLS FARGO BANK, N.A.,
Defendant.
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COMMERZBANK AG,
Plaintiff,

15-CV-10033 (KPF)(SN)

-againstWELLS FARGO BANK, N.A.,
Defendant.
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SARAH NETBURN, United States Magistrate Judge:
Today, the Court of Appeals for the Second Circuit issued a summary order
affirming Judge Broderick’s March 18, 2020 and August 12, 2020 orders in Phoenix Light
SF Ltd. v. U.S. Bank Nat’l Ass’n, 14-cv-10116 (S.D.N.Y.). See Phoenix Light SF DAC v.
U.S. Bank Nat’l Ass’n, 20-1312 (2d Cir. Oct. 4, 2021) (summary order).
The parties are ORDERED to meet and confer to discuss how this decision affects
the claims brought by Phoenix Light in this case. To the extent Phoenix Light believes that
there remain open issues for resolution (including with respect to the motions to exclude
expert testimony), it shall so state with specificity. To the extent the parties believe a stay of

this action to reengage in settlement discussions is appropriate, the parties may make an
appropriate application.
With respect to the claims brought by Commerzbank, the parties are ORDERED to
meet and confer to discuss whether the Court of Appeals’ decision affects its claims in this
action. Similarly, to the extent the parties believe a stay of this action to reengage in
settlement discussions is appropriate, the parties may make an appropriate application.
The parties are ORDERED to file their letter submissions no later than Thursday,
October 7, 2021.
SO ORDERED.

Dated:

October 4, 2021
New York, New York

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