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,IFILED;CNEWYORKCOUNTYCLERK03/29/20121
INDEXNO.650497/2011NYSCEFDOC.NO.86RECEIVEDNYSCEF:03/29/2012
SUPREMECOURTOFTHESTATEOFNEWYORK-NEWYORKCOUNTYPRESENT:
BARBARA
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Thefollowingpapers,numbered1to__werereadonthismotionto/for_
INDEXNO.MOTIONDATEMOTIONSEQ.NO.MOTIONCAL.NO.
NoticeofMotionlOrdertoShowCause-Affidavits-Exhibits...AnsweringAffidavits-Exhibits_ReplyingAffidavits
---------r---------
Cross-Motion:
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Upontheforegoingpapers,itisorderedthatthismotion
MOTIONISDECIDEDINACCORDANCEWITHj),CCOMPANYINGMEMORANDUMDECISION
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PAPERSNUMBERED
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SUPREMECOURTOFTHESTATEOFNEWYORKCOUNTYOFNEWYORK:IAPART39
_________________________________________x
WALNUTPLACELLC,WALNUTPLACEIILLC,WALNUTPLACEIIILLC,WALNUTPLACEIVLLC,WALNUTPLACEVLLC,WALNUTPLACEVILLC,WALNUTPLACEVIILLC,WALNUTPLACEVIIILLC,WALNUTPLACEIXLLC,WALNUTPLACEXLLC,andWALNUTPLACEXILLC,derivativelyonbehalfofAlternativeLoanTrust2006-0A10andAlternativeLoanTrust2006-0A3,Plaintiffs,
DECISION/ORDER
IndexNo.650497/11MotionSeq.No.001against-COUNTRYWIDEHOMELOANS,INC.,PARKGRANADALLC,PARKMONACOINC.,PARKSIENNALLC,andBANKOFAMERICACORPORATION,Defendants,andTHEBANKOFNEWYORKMELLON,initscapacityasTrusteeofAlternativeLoanTrust2006-0A10andAlternativeLoanTrust2006-0A3,NominalDefendant.
-----------------------------------------x
BARBARAR.KAPNICK,
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holdersofcertificatesissuedbytwosecuritizationtrustsnamedAlternativeLoanTrust2006-0A10("CWALT2006-0A10")andAlternativeLoanTrust2006-0A3("CWALTPlaintiffsinthisactionincludeelevenentitiesnamedWalnutPlaceLLC,WalnutPlaceIILLC,WalnutPlaceIIILLC,WalnutPlaceIVLLC,WalnutPlaceVLLC,WalnutPlaceVILLC,WalnutPlaceVIILLC,WalnutPlaceVIIILLC,WalnutPlaceIXLLC,WalnutPlaceXLLC,andWalnutPlaceXILLC.
 
Specifically,plaintiffsclaimthattheyinvestigateda2006-0A3"),bringthisderivativeactiononbehalfofthetrustsagainstdefendantsCountrywideHomeLoans,Inc.("Countrywide"),ParkGranadaLLC,ParkMonacoInc.,ParkSiennaLLC(collectively,the"Countrywidedefendants"),andBankofAmericaCorporationfor
Li
dS"At(the"PSAS")2thatreachofthePoolnganervlclnggreemensgoverntheadministrationoftheresidentialmortgageloanssoldbytheCountrywidedefendantstothosetrusts.
3
portionoftheloansinthetruststhatweredelinquentorhadbeendefaultedbyborrowers,anddiscoveredthatCountrywide,whichoriginatedtheloans,madefalserepresentationsandwarrantiesinthePSAsaboutthecharacteristicsandcreditqualityofthoseloans,materiallyandadverselyaffectingtheinterestsof
2
PlaintiffssubmittheCWALT2006-0A10PSAdatedasofJune1,2006,amongCWALT,Inc.(Depositor),CountrywideHomeLoans,Inc.(Seller),ParkGranadaLLC(Seller),ParkMonacoInc.(Seller),ParkSiennaLLC(Seller),CountrywideHomeLoansServicingLP(MasterServicer),andTheBankofNewYork(Trustee);andtheCWALT2006-0A3PSAdatedasofMarch1,2006,amongCWALT,Inc.(Depositor),CountrywideHomeLoans,Inc.(Seller),ParkGranadaLLC(Seller),ParkMonaco,Inc.(Seller),ParkSienna,LLC(Seller),CountrywideHomeLoansServicingLP(MasterServicer),andTheBankofNewYork(Trustee).PlaintiffsarenotpartiestoeitherPSA;rather,theyarethird-partybeneficiariesofthoseagreements.Accordingtoplaintiffs,defendantBankofAmericaCorporation,whichisnotapartytothePSAs,isliablefortheclaimsallegedasasuccessor
io
theCountrywidedefendants.
2
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