Wells Fargo Bank., N.A. v. Waterfall Asset Management LLC et al
Interpleader_plaintiff: Wells Fargo Bank., N.A.
Interpleader_defendant: Waterfall Asset Management LLC, The Bank of New York Mellon and Cede & Co.
Case Number: 1:2018cv00295
Filed: January 12, 2018
Court: US District Court for the Southern District of New York
Office: Foley Square Office
Presiding Judge: Gregory H. Woods
Nature of Suit: Other Contract
Cause of Action: 28:1332
Jury Demanded By: None

Available Case Documents

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Date Filed Document Text
March 13, 2019 Opinion or Order Filing 69 MEMORANDUM OPINION AND ORDER re: 58 MOTION to Dismiss the Amended Interpleader Complaint filed by The Bank of New York Mellon. The law does not require allowing interpleader here, as the dispute goes beyond Wells Fargo's " ;single obligation" to distribute the res, and is instead predominated by issues as to Wells Fargo's potential obligations as Trustee. See Bradley v. Kochenash, 44 F.3d at 168 (2d Cir. 1995). Further, equity does not support granting th e relief sought by Wells Fargo, and the Court has grave policy concerns about the wisdom of extending interpleader to the extent requested. For all those reasons, interpleader is DENIED, BNYM's motion to dismiss is GRANTED and this case is dismissed. The Clerk of Court is directed to terminate this case. SO ORDERED. (Signed by Judge Gregory H. Woods on 3/12/2019) (anc) Transmission to Orders and Judgments Clerk for processing. Modified on 3/13/2019 (anc).
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Interpleader_plaintiff: Wells Fargo Bank., N.A.
Represented By: Elizabeth Anne Buckel
Represented By: Alexander Seton Lorenzo
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Interpleader_defendant: Waterfall Asset Management LLC
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Interpleader_defendant: The Bank of New York Mellon
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Interpleader_defendant: Cede & Co.
Represented By: Lawrence Shane Elbaum
Represented By: Laurel Sage Fensterstock
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