AVENUE CLO FUND, LTD. v. BANK OF AMERICA, N.A.

No. 12-11815.

723 F.3d 1287 (2013)

AVENUE CLO FUND, LTD., et al., Plaintiffs, Avenue CLO IV, Ltd., Avenue CLO V, Ltd., Avenue CLO VI, Ltd., Brigade Leveraged Capital Structures Fund, Ltd., Battalion CLO 2007-I Ltd., Caspian Capital Partners, L.P., Caspian Select Credit Master Fund, Ltd., ING Prime Rate Trust, ING Senior Income Fund, ING International (II) — Senior Bank Loans Euro, ING Investment Management CLO I, Ltd., ING Investment Management CLO II, Ltd., ING Investment Management CLO III, Ltd., ING Investment Management CLO IV, Ltd., ING Investment Management CLO V, Ltd., Venture II CDO 2002, Limited, Venture III CDO Limited, Venture IV CDO Limited, Venture V CDO Limited, Venture VI CDO Limited, Venture VII CDO Limited, Venture VIII CDO Limited, Venture IX CDO Limited, Vista Leveraged Income Fund, Veer Cash Flow CLO, Limited, Mariner LDC, Genesis CLO 2007-1 Ltd., Canpartners Investments IV, LLC, Scroggin Capital Management II, Scroggin International Fund Ltd., Scroggin Worldwide Fund Ltd., Caspian Alpha Long Credit Fund, L.P., Sola Ltd., Monarch Master Funding, Ltd., Solus Core Opportunities Master Fund Ltd., Cantor Fitzgerald Securities, Olympic CLO I, Ltd., Shasta CLO I, Ltd., Whitney CLO I Ltd., San Gabriel CLO I Ltd., Sierra CLO II Ltd., Normandy Hill Master Fund, L.P., SPCP Group, LLC, Venure Capital Master Fund, Ltd., Plaintiffs-Appellants, v. BANK OF AMERICA, NA, Defendant-Appellee.

United States Court of Appeals, Eleventh Circuit.

July 26, 2013.


Attorney(s) appearing for the Case

Paul D. Clement , Viet Dinh , George W. Hicks, Jr. , Bancroft, PLLC, Washington, DC, Lorenz Michel Pruss , David A. Rothstein , Dimond, Kaplan & Rothstein, PA, Miami, FL, Kirk Dwight Dillman , Bruce Bennett , J. Michael Hennigan , Peter J. Most , McKool Smith , Sidney P. Levinson , Jones Day, Los Angeles, CA, Susan Williams Scann , Deaner, Deaner, Scann, Malan & Larsen, Las Vegas, NV, for Plaintiffs-Appellants.

Daniel L. Cantor , Jonathan Rosenberg , Bradley J. Butwin , William J. Sushon , O'Melveny & Myers, LLP, New York City, Walter Estes Dellinger, III , Jonathan D. Hacker , O'Melveny & Myers, LLP, Washington, DC, John B. Hutton , Greenberg Traurig, LLP, Fort Lauderdale, FL, Jamie Zysk Isani , Craig Vincent Rasile , Hunton & Williams, LLP, Miami, FL, for Defendant-Appellee.

Before TJOFLAT and MARTIN, Circuit Judges, and BUCKLEW, District Judge.


MARTIN, Circuit Judge:

This case is one of many resulting from the failure of the project to build a Fontainebleau Resort in Las Vegas. The Fontainebleau Las Vegas was a hotel and casino development project on an approximately 24.4 acre parcel at the north end of the Las Vegas Strip. Here, a group of lenders and their successors in interest (Term Lenders) appeal the District Court's grant of summary judgment in favor of Bank of America. See In re Fontainebleau...

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