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WACHOVIA BANK NAT. ASS'N v. ENCAP GOLF HOLDINGS

No. 09 Civ. 1262(PAC).

690 F.Supp.2d 311 (2010)

WACHOVIA BANK NATIONAL ASSOCIATION, as agent for the Risk Participants, Plaintiff, v. ENCAP GOLF HOLDINGS, LLC, the Bank of New York Mellon, as Trustee for the Benefit of the holders of the Bonds, and Lexington Insurance Company, Defendants. The Bank of New York Mellon, Crossclaimant, v. EnCap Golf Holdings, LLC, and Lexington Insurance Company, Crossclaim Defendant. Lexington Insurance Company, Counterclaimant/Crossclaimant, v. Wachovia Bank National Association, as Agent for the Risk Participants, the Bank of New York Mellon, as Depository and as Trustee for the benefit of the holders of the Bonds, EnCap Golf Holdings, LLC, Mactec Development Corporation, Cherokee Loan II, SFT I, Inc, and Wells Fargo Bank National Association, Counterclaim/Crossclaim Defendants.

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

February 19, 2010.

Attorney(s) appearing for the Case

Craig Phillip Murphy, John David Holden, Windels, Marx, Lane and Mittendorf LLP, New York, NY, for Plaintiff.

Curtis Matthew Plaza, Dennis J. O'Grady, Riker Danzig Scherer Hyland Perretti LLP, Morristown, NJ, Marc Laurence Greenwald, Howard Gregory Baker, Scott C. Shelley, Quinn Emanuel Urquhart Oliver & Hedges LLP, New York, NY, Brian Corgan, Frank Lynn Bigelis, Kilpatrick Stockton LLP, Atlanta, GA, Dennis J. Drasco, Lum, Drasco & Positan, L.L.C., Roseland, NJ, for Defendants.

MEMORANDUM OPINION & ORDER

Honorable PAUL A. CROTTY, District Judge:

This litigation arises out of an endeavor to close four landfills located in New Jersey's Meadowlands, and upon closure, build golf courses, residences and a hotel on the remediated land. Bonds were issued, and hundreds of millions of dollars raised and spent; but the developer has defaulted, spawning litigation in several fora amongst various parties seeking to mitigate their...

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