In re Application of HANSAIN VEST Hanseatische Investment-GmbH in respect of the Fund Aramea Rendite Plus; Trinity Investments Designated Activity Company; BFAM Asian Opporturnities Master GP Limited

Filing 67

OPINION & ORDER re: 60 MOTION for Reconsideration re; 48 Order on Motion to Stay, . filed by CQS Dedicated Multi Strategy Fund Ltd., CQS Global Funds ICAV, TT International Fund Ltd., OC 530 Offshore Fund, Ltd., Cas pian Focused Opportunities Fund, L.P., CQS Aiguille du Chardonnet MF S.C.A. SICAV-SIF, Caspian SC Holdings, L.P., CQS Directional Opportunities Master Fund Ltd., Sound Point Credit Opportunities GP LLC, Lex Financial Investments (luxembou rg), S.a. r.l., SC Lowy Primary Investment, Ltd., Stonehill Master Fund Ltd., SPC Lux S.a r.l., Greywolf Event Driven Master Fund, Trinity Investments Designated Activity Company, HANSAINVEST Hanseatische Investment-GmbH in respect of t he fund Aramea Rendite Plus, Gold Coast Capital Subsidiary I Ltd., Stonehill Institutional Partners, L.P., Blackstone Alternative Multi-Strategy Sub Fund IV, LLC, Citadel Equity (Ireland) Designated Activity Company, NB 530 Offshore Fund , Ltd., Marathon Credit Dislocation Fund, L.P., Biwa Fund Ltd., Blackstone Alternative Investment Funds plc, Caspian HLSC1, LLC, Marathon European Credit Opportunity Master Fund II, Ltd., TT International Hedge Funds SPC, KLS Diversif ied Master Fund GP Ltd., Caspian Solitude Master Fund. L.P., Monarch Master Funding 2 (luxembourg) S.a r.l., Marathon Blue Grass Credit Fund, L.P., Sound Point Montauk GP, LLC, Marathon Special Opportunity Master Fund, Ltd., Farmstead Master Fund, Ltd., TRS Credit Fund, L.P., Caspian Select Credit Master Fund, Ltd., Marathon Centre Street Partnership, L.P., Gracechurch Opportunities Fund Limited. For the reasons outlined above, Petitioner's Motion for Reconsideration is hereby GRANTED, and the Court hereby MODIFIES its original stay Order. ECF No. 48. Respondents' request for a stay is hereby GRANTED, in part, and DENIED, in part. Upon reconsideration, the factors outlined above weigh in favor of affirming this Court's grant of a stay as it pertains to the discovery of extraterritorial documents a question on appeal presenting an issue of first impression. However, the stay factors weigh against sustaining this this Court's grant of a stay a s to the production of documents in the possession, custody, and control of U.S. custodians. In sum, extraterritorial discovery in this case is hereby STAYED pending the resolution of the issues of first impression currently on appeal. Respondents a re otherwise ORDERED to comply with Judge Sullivan's original order granting the Application as it pertains to documents in the possession, custody, and control of U.S. custodians. The Parties are hereby ORDERED to file a Joint Status Report on or before December15, 2019. SO ORDERED. (Signed by Judge Andrew L. Carter, Jr on 10/4/2019) (rro)