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MATTER OF U.S. BANK N.A.

653902/2014

51 Misc.3d 273 (2015)

27 N.Y.S.3d 797

2015 NY Slip Op 25446

In the Matter of U.S. BANK NATIONAL ASSOCIATION et al., Petitioners.

Supreme Court, New York County.

Decided December 18, 2015.

Attorney(s) appearing for the Case

Morgan Lewis & Bockius LLP, New York City ( Michael S. Kraut and Kurt W. Rademacher of counsel), and Rollin B. Chippey, II and Benjamin P. Smith , San Francisco, California, for U.S. Bank National Association and another, petitioners.

Mayer Brown LLP, New York City ( Jean-Marie L. Atamian and James Ancone of counsel), for HSBC Bank USA, N.A., petitioner.

Seward & Kissel LLP, New York City ( Dale C. Christensen, Jr. and Thomas Ross Hooper of counsel), for Law Debenture Trust Company of New York, petitioner.

Warner Partners, P.C., New York City ( Kenneth E. Warner of counsel), and Gibbs & Bruns LLP, Houston, Texas ( Kathy D. Patrick , Robert J. Madden and David Sheeren , of the Texas bar, admitted pro hac vice, of counsel), for Bayerische Landesbank and others, intervenors.

OPINION OF THE COURT

In this CPLR article 77 proceeding, four trustees of residential mortgage-backed securitization (RMBS) trusts seek judicial approval of their decision to accept a settlement, on behalf of the trusts, of claims against Citigroup Inc. and its direct and indirect subsidiaries (Citigroup).

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