Ambac Assurance Corporation v. US Bank National Association, No. 1:2018cv05182 - Document 105 (S.D.N.Y. 2020)

Court Description: ORDER AND JUDGMENT: Upon consideration of this Court's July 16, 2019 Opinion & Order granting Defendant U.S. Bank National Association's ("U.S. Bank") motion to dismiss Counts One, Two, Three, and Five of Ambac Assurance Corporati on's ("Ambac") Complaint and denying U.S. Bank's motion to dismiss Count Four of Ambac's Complaint ("Motion to Dismiss Order," Dkt. No. 49); and further upon consideration of this Court's December 7, 2020 Opini on & Order resolving the parties' cross-motions for summary judgment on Count Four of Ambac's Complaint ("Summary Judgment Order," Dkt. No. 103); and further upon consideration of the parties' Stipulation for Entry of Judgm ent AT Dkt. No. 104-1, it is hereby ORDERED that: 1. Final judgment is ENTERED in favor of U.S. Bank on Counts One, Two, Three,and Five of Ambac's Complaint for the reasons stated in the Court's Motion to Dismiss Order. 2. Final judgment is also ENTERED in favor of U.S. Bank on the breach of contractclaim in Count Four of Ambac's Complaint arising out of Ambac's repayment right in the Trust waterfall, as set forth in the Court's Summary Judgment Order. 3.Final judgment i s ENTERED in favor of Ambac on the remaining breach of contract claims in Count Four of Ambac's Complaint with respect to the use of the write up first method and the offsetting of Recoveries against Realized Losses, as set forth in the Court� 39;s Summary Judgment Order. 4. In light of Paragraph 3 immediately above, Ambac shall have judgment against U.S. Bank in the amount of one dollar ($1.00) in nominal damages. 5. The parties shall each bear their own costs and fees. 6.The Clerk of Court is directed to CLOSE this case. (Signed by Judge Lorna G. Schofield on 12/22/2020) (kv) Transmission to Finance Unit (Cashiers) for processing.