WALNUT PLACE LLC v. COUNTRYWIDE HOME LOANS, INC.

650497/11.

2012 NY Slip Op 50601(U)

WALNUT PLACE LLC, WALNUT PLACE II LLC, WALNUT PLACE III LLC, WALNUT PLACE IV LLC, WALNUT PLACE V LLC, WALNUT PLACE VI LLC, WALNUT PLACE VII LLC, WALNUT PLACE VIII LLC, WALNUT PLACE IX LLC, WALNUT PLACE X LLC, AND WALNUT PLACE XI LLC, DERIVATIVELY ON BEHALF OF ALTERNATIVE LOAN TRUST 2006-OA10 AND ALTERNATIVE LOAN TRUST 2006-OA3, Plaintiffs, v. COUNTRYWIDE HOME LOANS, INC., PARK GRANADA LLC, PARK MONACO INC., PARK SIENNA LLC, AND BANK OF AMERICA CORPORATION, Defendants, AND THE BANK OF NEW YORK MELLON, IN ITS CAPACITY AS TRUSTEE OF ALTERNATIVE LOAN TRUST 2006-OA10 AND ALTERNATIVE LOAN TRUST 2006-OA3, NOMINAL Defendant.

Supreme Court, New York County.

Decided March 28, 2012.


Attorney(s) appearing for the Case

Plaintiffs were represented by David J. Grais , Owen L. Cyrulnik and Leanne M. Wilson, Esqs. , GRAIS & ELLSWORTH LLP, 1211 Avenue of the Americas, New York, New York 10036; Tel. 212-755-0100.

Defendants Countrywide Home Loans, Inc., Park Granada LLC, Park Monaco Inc. and Park Sienna LLC were represented by Mark Holland and Valerie A. Haggans, Esqs. , GOODWIN PROCTOR LLP, 620 Eighth Avenue, New York, New York 10018; Tel. 212-8138800; and Brian E. Pastuszenski , John J. Falvey, Jr. , and Matthew G. Lindenbaum, Esqs. , GOODWIN PROCTOR LLP, Exchange Place, 53 State Street, Boston, Massachusetts 02109; Tel. 617-570-1000.

Defendant Bank of America Corporation was represented by Theodore N. Mirvis , George T. Conway, III , and Elaine P. Golin, Esqs. , WACHTELL LIPTON ROSEN & KATZ, 51 West 52nd Street, New York, New York 10019; Tel. 212-403-1000.

Nominal Defendant The Bank of New York Mellon was represented by Matthew D. Ingber, Esq. , MAYER BROWN LLP, 1675 Broadway, New York, New York 10019; Tel. 212-506-2500.


BARBARA R. KAPNICK, J.

Plaintiffs1 holders of certificates issued by two securitization trusts named Alternative Loan Trust 2006-OA10 ("CWALT 2006-OA10") and Alternative Loan Trust 2006-OA3 ("CWALT 2006-OA3"), bring this derivative action on behalf of the trusts against defendants Countrywide Home Loans, Inc. ("Countrywide"), Park Granada LLC, Park Monaco Inc., Park Sienna LLC (collectively, the "Countrywide defendants"), and Bank of America...

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