U.S. Bank National Association v. Triaxx Asset Management LLC et al
Interpleader_plaintiff: U.S. Bank National Association
Interpleader_defendant: Triaxx Asset Management LLC, Triaxx Prime CDO 2006-1, Ltd., Triaxx Prime CDO 2006-2, Ltd., Triaxx Prime CDO 2007-1, Ltd., South Tryon, LLC, Pacific Investment Management Company, LLC, Phoenix Real Estate Solutions Ltd. and Cede & Co.
Case Number: 1:2018cv04044
Filed: May 4, 2018
Court: US District Court for the Southern District of New York
Office: Foley Square Office
County: XX Out of State
Presiding Judge: Victor Marrero
Nature of Suit: Other Contract
Cause of Action: 28:1332
Jury Demanded By: None

Available Case Documents

The following documents for this case are available for you to view or download:

Date Filed Document Text
May 12, 2021 Opinion or Order Filing 343 ORDER: Specifically, within five (5) business days of the entry of this Order by the Court, Triaxx Asset Management LLC ("TAM") and the three Issuers (Triaxx Prime CDO 2006-1, Ltd., Triaxx Prime CDO 2006-2, Ltd., and Triaxx Prime CDO 2 007-1, Ltd.) will take all steps necessary to cause Olshan to promptly transfer the Recoveries held in the Olshan Account to the Collection Accounts for each of the three Triaxx CDOs, with the $679,263.80 of Recoveries in the Olshan Account to be transferred as follows: (as further set forth in this Order.) Nothing in this order shall constitute an admission by any party or its counsel or a waiver or limitation of any rights or remedies in connection with this matter. (Signed by Magistrate Judge Barbara C. Moses on 5/12/2021) (cf)
May 4, 2021 Opinion or Order Filing 338 ORDER: It is hereby ordered that: The parties shall promptly meet and confer with regard to the funds currently held in the Olshan Account (see Dkt. No. 157) and shall submit a stipulated order to the Court, no later than May 11, 2021, direct ing the disbursement of those funds to the Trustee in accordance with the March 31, 2021 Opinion and Order (Dkt. No. 331). U.S. Bank National Association (U.S. Bank or Trustee) shall file its motion to remand its CPLR Article 77 petition (original ly docketed in this Court, after removal, as Case No. 21-CV-439) no later than May 18, 2021. Opposition papers shall be filed no later than June 1, 2021. U.S. Bank's optional reply papers are due no later than June 8, 2021. If it chooses to f orego a reply it shall promptly so advise the Court by letter. The parties shall promptly meet and confer with regard to the advancement of the Issuers' legal fees and the related adjournment of the Issuers' document production obligati ons (see Dkt. No. 304). If the parties are able to reach a stipulation as to those issues, they shall submit it to the Court no later than May 18, 2021. If they are unable to agree, they shall file their motions with respect to the same issues no later than May 18, 2021. Opposition papers shall be filed no later than June 1, 2021. The moving party/parties' optional reply papers are due no later than June 8, 2021. If they choose to forego a reply they shall promptly so advise the Court by letter. Any party seeking judicial intervention with respect to the document discovery issues outlined in the parties' recent joint letter (Dkt. No. 333) shall do so no later than June 22, 2021, by letter-motion in accordance with Fed. R. Civ. P. 37(a)(1), Local Civil Rule 37.2, and Moses Individual Practices § 2(b). Opposition letters shall be filed no later than June 29, 2021. No reply papers will be accepted. SO ORDERED. ( Motions due by 6/22/2021. Responses due by 6/29/2021.) (Signed by Magistrate Judge Barbara C. Moses on 5/4/2021) (va)
April 13, 2021 Opinion or Order Filing 332 ORDER: Judge Moses will conduct a status conference on May 4, 2021, at 10:00 a.m. At that time, the parties shall dial (888) 557-8511 and enter the access code 7746387. (As further set forth in this Order.) ( Telephone Conference set for 5/4/2021 at 10:00 AM before Magistrate Judge Barbara C. Moses.) (Signed by Magistrate Judge Barbara C. Moses on 4/13/2021) (cf)
March 31, 2021 Opinion or Order Filing 331 OPINION AND ORDER re: 227 MOTION for Judgment on the Pleadings filed by Phoenix Real Estate Solutions Ltd., Triaxx Asset Management LLC, 234 JOINT MOTION for Judgment on the Pleadings filed by Pacific Investme nt Management Company, LLC, 232 MOTION for Judgment on the Pleadings filed by Triaxx Prime CDO 2006-1, Ltd., Triaxx Prime CDO 2007-1, Ltd., Triaxx Prime CDO 2006-2, Ltd., 230 MOTION for Judgment on the Pleadings filed by U.S. Bank National Association. For the reasons stated above, the Rule 12(c) motions brought by the Collateral Managerand Phoenix (Dkt. No. 227), the Trustee (Dkt. No. 230), and the Issuers (Dkt. No. 232) are GRANTED IN PART a nd DENIED IN PART, while the Rule 12(c) motion brought by PIMCO (Dkt. No. 234) is DENIED. It is hereby ORDERED that: 1. The Trustee's First Claim, for interpleader relief, is DISMISSED insofar as itseeks relief concerning the Interple ader Judgment Fees. 2. The Trustee's Second Claim, for a declaratory judgment, is DISMISSED insofaras it seeks a declaration concerning the Interpleader Judgment Fees. 3. PIMCO's Third Affirmative Claim to the Res, concernin g the Interpleader Judgment Fees, is DISMISSED. 4. The Court DECLARES that the Recoveries are Collateral, as that term is used in the Indentures, and therefore must be disclosed and turned over to the Trustee for deposit into th e appropriate Accounts(s) established by the Trustee under the Indentures. Neither the Issuers nor the Collateral Manager may pay Phoenix's fees directly from the Recoveries, outside of the Waterfall. 5. The Col lateral Manager's Counterclaim is DISMISSED insofar as it seeks a declaration that Phoenix "is entitled to be paid its fees and expenses...out of settlement funds at the time such funds are disbursed." 6. Phoenix's Counterclaim is DISMISSED insofar as it seeks a declaration that "its incentive fees and expenses must be paid from settlement proceeds before such proceeds are subject to the payment waterfall se t forth in the Indentures." 7. The Trustee's Third, Fourth, and Fifth Claims, for breach of contract, violation of the UCC, and conversion, are DISMISSED as against the Issuers. 8. The Trustee's Fifth Claim, for conversion, is also DISMISSED as against the Collateral Manager. All relief not expressly granted herein is DENIED. (Signed by Magistrate Judge Barbara C. Moses on 3/31/2021) (mro)
February 23, 2021 Opinion or Order Filing 329 ORDER: Accordingly, it is hereby ORDERED that the Clerk of Court is directed to consolidate these actions for all pretrial purposes; and it is further ORDERED that all filings in connection with the consolidated action be docketed against the lower numbered case, 18 Civ. 4044; and it is further ORDERED that the parties are directed to indicate their consent to proceeding with the recently removed action, 21 Civ. 439, before Magistrate Judge Moses who is presiding over the lower numbered action, (see 18 Civ. 4044, Dkt. No. 171), and is intimately familiar with the facts and proceedings of the case; and it is finally ORDERED that the Clerk of Court close the referenced higher numbered case, 21 Civ. 439, as a separate action and remove it from the Court's docket. So Ordered. (Signed by Judge Victor Marrero on 2/23/2021) Filed In Associated Cases: 1:18-cv-04044-BCM, 1:21-cv-00439-VM (js)
January 12, 2021 Opinion or Order Filing 328 ORDER DISMISSING THE TRUSTEE'S FIRST CLAIM FOR INTERPLEADER RELIEF SOLELY AS TO THE TRIAXX PRIME CDO 2006-1, LTD. TRANSACTION:The First Claim For Interpleader Relief of U.S. Bank National Association, solely in its capacity as Trustee, as it re lates to the Triaxx Prime CDO 2006-1, Ltd. transaction is hereby dismissed for lack of Article III jurisdiction without prejudice and without costs to any party. For the avoidance of doubt, this dismissal shall have no impact on the First Claim For Interpleader Relief as it relates to the Triaxx Prime CDO 2006-2, Ltd. transaction and the Triaxx Prime CDO 2007-1, Ltd. transaction. (Signed by Magistrate Judge Barbara C. Moses on 1/12/2021) (cf)
November 30, 2020 Opinion or Order Filing 325 ORDER RE INTERROGATORIES re: 306 LETTER MOTION for Conference addressed to Magistrate Judge Barbara C. Moses from Anil K. Vassanji dated February 24, 2020. filed by Phoenix Real Estate Solutions Ltd., Triaxx Asset Management LLC. For the reasons set forth above, the TAM Parties' letter-motion (Dkt. No. 306) is GRANTED to the extent that PIMCO must promptly supplement its interrogatory responses to identify the decisionmakers who approved each of the objections underlying the interpleader claims in this action, and otherwise DENIED. SO ORDERED. (Signed by Magistrate Judge Barbara C. Moses on 11/30/2020) (ks)
March 17, 2020 Opinion or Order Filing 312 ORDER: The President of the United States has declared a national emergency due to the spread of the COVID-19 virus, and the Centers for Disease Control have noted that the best way to prevent illness is to minimize person-to-person con tact. In order to protect public health while promoting the "just, speedy, and inexpensive determination of every action and proceeding," Fed. R. Civ. P. 1, it is hereby ORDERED, pursuant to Fed. R. Civ. P. 30(b)(3) and (b)(4), that all depositions in this action may be taken via telephone, videoconference, or other remote means, and may be recorded by any reliable audio or audiovisual means. This Order does not dispense with the requirements set forth in Fed. R. Civ. P. 30(b)( 5), including the requirement that, unless the parties stipulate otherwise, the deposition be "conducted before an officer appointed or designated under Rule 28," and that the deponent be placed under oath by that officer. For avoidance of doubt, a deposition will be deemed to have been conducted "before" an officer so long as that officer attends the deposition via the same remote means (e.g., telephone conference call or video conference) used to connect all other re mote participants, and so long as all participants (including the officer) can clearly hear and be heard by all other participants. It is further ORDERED, pursuant to Fed. R. Civ. P. 16(b)(4), that all unexpired deadlines for the completion of f act depositions, fact discovery, expert depositions, expert discovery, and/or all discovery are hereby EXTENDED for a period of 30 days. Nothing in this Order prevents the parties from seeking to further modify the pretrial schedule in this action in light of the COVID-19 pandemic (or for any other good cause). Prior to seeking such relief, the parties must, as always, meet and confer (via remote means) in a good faith effort to reach agreement on how best to fulfill the goals of Rule 1 while avoiding unnecessary health risks. (Signed by Magistrate Judge Barbara C. Moses on 3/17/2020) (mro)
January 8, 2020 Opinion or Order Filing 305 ORDER granting in part and denying in part 274 Letter Motion to Compel. Consequently, the Trustee's letter-motion is GRANTED to the extent that TAM and Phoenix must produce documents sufficient to show all compensation paid or owed to Calama ri and Garg, directly or indirectly, by TAM, Phoenix, the Phoenix Entities, and/or 1/0 Capital, and otherwise DENIED. The TAM Parties may designate the compensation information "confidential" if they believe it qualifies for such treatmen t under the parties' Stipulated Protective Order (Dkt. No. 179). Production is to be made within 30 days of thisOrder. The Clerk of Court is respectfully directed to close the motion at Dkt. No. 274. (As further set forth in this Order.) (Signed by Magistrate Judge Barbara C. Moses on 1/8/2020) (cf)
November 22, 2019 Opinion or Order Filing 302 ORDER denying without prejudice to renewal by formal motion 298 Motion for Local Rule 37.2 Conference; denying without prejudice to renewal by formal motion 299 Motion for Local Rule 37.2 Conference. It is hereby ORDERED that the TAM Partie s' November 18 letter-motions are DENIED without prejudice to renewal after the parties meet and confer regarding their current disputes and following the substantial completion of document production. It is further ORDERED that the parties sh all substantially complete their production of documents in response to previously-served requests no later than January 10, 2020. If, after that date, the parties require judicial intervention to resolve any of the document production issues described in the November 18 letter-motions, they may request a conference by filing a joint letter, not to exceed six pages, briefly summarizing the outstanding issues. SO ORDERED. (Signed by Magistrate Judge Barbara C. Moses on 11/22/2019) (ks)
September 17, 2018 Opinion or Order Filing 80 DECISION AND ORDER: Accordingly, it is hereby ORDERED that the motion of Triaxx Asset Management LLC for a preliminary injunction (Dkt. No. 50) is DENIED. SO ORDERED. (Signed by Judge Victor Marrero on 9/17/2018) (ne)
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Interpleader_plaintiff: U.S. Bank National Association
Represented By: Elizabeth Anne Buckel
Represented By: Alexander Seton Lorenzo
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Interpleader_defendant: Triaxx Asset Management LLC
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Interpleader_defendant: Triaxx Prime CDO 2006-1, Ltd.
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Interpleader_defendant: Triaxx Prime CDO 2006-2, Ltd.
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Interpleader_defendant: Triaxx Prime CDO 2007-1, Ltd.
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Interpleader_defendant: South Tryon, LLC
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Interpleader_defendant: Pacific Investment Management Company, LLC
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Interpleader_defendant: Phoenix Real Estate Solutions Ltd.
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Interpleader_defendant: Cede & Co.
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