BANK OF NEW YORK v. FIRST MILLENNIUM, INC.

No. 06 Civ. 13388(CSH).

544 F.Supp.2d 253 (2008)

The BANK OF NEW YORK, in its capacity as Indenture Trustee of the NextCard Credit Card Master Note Trust, Interpleader Plaintiff, v. FIRST MILLENNIUM, INC., Millennium Partners, L.P, RMK Advantage Fund, and Federal Deposit Insurance Corporation, Interpleader Defendants.

United States District Court, S.D. New York.

March 26, 2008.


Attorney(s) appearing for the Case

Michael James Edelman, Vedder Price Kaufman & Kammholz, New York City, for First Millennium, Inc.


MEMORANDUM OPINION AND ORDER

HAIGHT, Senior District Judge.

In this interpleader action, several groups of investors and the Federal Deposit Insurance Corporation ("FDIC") assert competing claims to funds held by The Bank of New York ("BNY"). BNY holds those funds in its role as Indenture Trustee of the NextCard Credit Card Master Note Trust ("NextCard"), a trust that was established by NextBank, N.A. ("NextBank") as part of a securitization transaction...

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