U.S. Bank National Association v. Black Diamond CLO 2005-1 Adviser, L.L.C. et al, No. 1:2011cv05675 - Document 55 (S.D.N.Y. 2011)

Court Description: OPINION AND ORDER re: 38 MOTION for Judgment on the Pleadings : Notice Of Motion For Judgment On The Pleadings filed by BDC Finance L.L.C., Black Diamond CLO 2005-1 Adviser, L.L.C., 32 MOTION for Summary Judgment filed by Prudential Fixed Income, Metlife Reinsurance Company of South Carolina, Metropolitan Life Insurance Company. The Court therefore grants MetLife's motion for summary judgment, denies the motion of the Black Diamond Claimants for judgment on the pleadings, and dir ects the Trustee to distribute all of the Interpleader Funds to the Noteholders, including the MetLife Claimants, in accordance with the Priority of Payments. The Court also dismisses Cede & Co., Enginerig & Co., and Morgan Stanley & Co., Inc. from the action because the Interpleader Complaint fails to state a claim against them. The Clerk of the Court is hereby directed to enter final judgment and to close the case. (Signed by Judge Jed S. Rakoff on 12/30/2011) (lmb)