UMB Bank, National Association v. Airplanes Limited et al, No. 1:2016cv07717 - Document 73 (S.D.N.Y. 2017)

Court Description: OPINION AND ORDER: For the foregoing reasons, the Court (1) grants UMB's motion for partial judgment on the pleadings insofar as it seeks findings that the Reserve has been misclassified and that an event of default has occurred; (2) denies Airp lanes's motion for judgment on the pleadings; and (3) denies Airplanes's motion for preliminary injunction. The Court has also set forth herein deadlines for submissions relating to potential alternative justifications for the Reserve and r elating to permissible expenditures by UMB. The Court understands that the parties are attempting to resolve this matter, and will be receptive to a joint application for a reasonable extension of these deadlines. The Clerk of Court is respectfully directed to terminate the motions pending at Dkts. 22, 29, and 44. So Ordered (Signed by Judge Paul A. Engelmayer on 5/26/2017) (js)