PNC Bank, National Association v. Optimity Advisors, LLC et al

Filing 58

ORDER granting 57 Letter Motion to Stay 43 MOTION for Partial Summary Judgment Notice of Plaintiff's Motion for Partial Summary Judgment and Other Relief addressed to Magistrate Judge Valerie Figueredo from John A . Basinger. Application Granted. The parties are directed to provide a status update by Monday, November 27, 2023. The Clerk of Court is respectfully directed to terminate the motion at ECF No. 57. (Signed by Magistrate Judge Valerie Figueredo on 11/13/2023) (vfr)

John A. Basinger
Phone: [phone]
Fax: [phone]
[e-mail]

November 13, 2023

www.saul.com

The parties are directed to provide a status update by
Monday, November 27, 2023. The Clerk of Court is
respectfully directed to terminate the motion at ECF No. 57.

November 10, 2023
Via ECF
The Honorable Valerie Figueredo
Daniel Patrick Moynihan Courthouse
500 Pearl Street
New York, NY 10007
Re:

PNC Bank, N.A. v. Optimity Advisors LLC, et al.
No. 22-cv-07011-GHW-VF

Dear Judge Figueredo:
We represent Defendants in the referenced matter. We write with the consent of counsel
for Plaintiff regarding Plaintiff’s motion for partial summary judgment (the “Motion”), which was
filed on September 13, 2023 and fully briefed by October 16, 2023. ECF. 43-56. This week our
clients have negotiated a potential transaction concerning the mortgaged property at issue in the
Motion. Counsel for all parties have communicated and agree that, if the potential transaction is
consummated, it will impact the Motion and the course of this litigation.
In the interest of preserving judicial resources, the parties respectfully request that the
Court hold the Motion in abeyance pending the consummation of the potential transaction. With
the Court’s permission, the parties respectfully propose updating the Court no later than 14 days
of the date of this letter concerning the status of the proposed transaction and any impact that it
has on the Motion and this litigation.
We would be happy to answer any questions the Court has concerning this development.
Respectfully submitted,
/s John A. Basinger
John A. Basinger
cc: All Counsel of Record (via ECF)

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