The BANK OF NEW YORK, in its capacity as Indenture Trustee for the NextCard Credit Card Master Note Trust, Interpleader Plaintiff-Counter Claimant Defendant-Appellee,
v.
FIRST MILLENNIUM, INC., Millennium Partners, L.P., RMK Advantage Income Fund, Interpleader Defendants-Appellees, and
Federal Deposit Insurance Corporation, in its capacity as Receiver for NextBank, N.A., Interpleader Defendant-Counter Claimant-Appellant.
United States Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
Argued: March 4, 2010.
Decided: June 1, 2010.
Attorney(s) appearing for the Case
Scott H. Christensen, Hughes Hubbard & Reed LLP, Washington, D.C. (George A. Davidson, Hughes Hubbard & Reed LLP, New York, N.Y. and Colleen J. Boles, Lawrence H. Richmond, and Jaclyn C. Taner, Federal Deposit Insurance Corporation, Arlington, VA, on the brief) for Interpleader Defendant-Counter Claimant-Appellant, Federal Deposit Insurance Corporation, in its capacity as Receiver for NextBank, N.A.
Michael E. Johnson (Judith A. Amorosa, on the brief), Alston & Bird LLP, New York, NY, for Interpleader Plaintiff-Counter Claimant Defendant-Appellee, The Bank of New York, in its capacity as Trustee for the NextCard Credit Card Master Note Trust.
Michael J. Edelman (Michael G. Davies, on the brief), Vedder Price P.C., New York, NY, for Interpleader Defendants-Appellees, First Millennium, Inc. and Millennium Partners, L.P. Ronald S. Herzog (Michael Wexelbaum, Evangelos Michailidis, on the brief), Snow Becker Krauss P.C., New York, NY, for Interpleader Defendant-Appellee, RMK Advantage Income Fund.
Before: LYNCH and CHIN, Circuit Judges.
United States Court of Appeals, Second Circuit.
GERARD E. LYNCH, Circuit Judge:
In this interpleader action, the parties assert competing claims to the dregs of a failed securitization of credit card debt. Appellant, the Federal Deposit Insurance Corporation (the "FDIC"), as well as appellees, First Millennium, Inc., Millennium Partners, L.P. (together, "Millennium") and RMK Advantage Income Fund ("RMK"), seek distribution of the funds held by the interpleader plaintiff...
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