This case was last updated from PACER on 06/19/2020 at 13:44:27 (UTC).

Bybrook Capital Master Fund LP et al v. The Republic of Argentina

Case Summary

On 09/17/2015 Bybrook Capital Master Fund LP filed a Contract - Other Contract lawsuit against The Republic of Argentina. This case was filed in U.S. District Courts, New York Southern District. The Judge overseeing this case is Loretta A. Preska. The case status is Pending - Other Pending.

Case Details Parties Documents Dockets

 

Case Details

  • Case Number:

    1:15-CV-07367

  • Filing Date:

    09/17/2015

  • Case Status:

    Pending - Other Pending

  • Case Type:

    Contract - Other Contract

  • Court:

    U.S. District Courts

  • Courthouse:

    New York Southern District

Judge Details

Presiding Judge

Loretta A. Preska

 

Party Details

Plaintiffs

Bybrook Capital Master Fund LP

Bybrook Capital Hazelton Master Fund LP

Defendant

The Republic of Argentina

Attorney/Law Firm Details

Plaintiff Attorneys

Richard L. Levine

Attorney at Weil, Gotshal & Manges LLP (NYC)

767 Fifth Avenue, 25Th Fl.

New York, NY 10153

Brian Scott Rosen

Attorney at Weil, Gotshal & Manges LLP (NYC)

767 Fifth Avenue, 25Th Fl.

New York, NY 10153

David Efrem Yolkut

Attorney at Weil, Gotshal & Manges LLP (NYC)

767 Fifth Avenue, 25Th Fl.

New York, NY 10153

Anthony J. Costantini

Attorney at Duane Morris, LLP (NYC)

1540 Broadway, 14Th Floor

New York, NY 10036-4086

Defendant Attorneys

Michael A Paskin

Attorney at Cravath, Swaine & Moore LLP

825 Eighth Avenue

New York, NY 10019

David Aaron Herman

Attorney at Dechert LLP

Three Bryant Park, 1095 Avenue Of The Americas

New York, NY 10036

Daniel Slifkin

Attorney at Cravath, Swaine & Moore LLP

825 Eighth Avenue

New York, NY 10019

Carmine D. Boccuzzi, Jr

Attorney at Cleary Gottlieb

One Liberty Plaza

New York, NY 10006

Damaris Hernandez

Attorney at Cravath, Swaine & Moore LLP

825 Eighth Avenue

New York, NY 10019

 

Court Documents

#62

(#62) SECOND AMENDED AND SUPPLEMENTAL ORDER OF APPOINTMENT OF SPECIAL MASTER: The Order for Appointment of Special Master, June 23, 2014, as amended and supplemented by the Amended and Supplemental Order of Appointment of Special Master, November 3, 2014, is further amended and supplemented as follows: 1. From and after April 22, 2016, Elliot Capital Management and Aurelius Capital Management, who have settled their claims with the Republic of Argentina, shall have no further responsibility for the fees and expenses of the Special Master. 2. From and after April 22, 2016, those parties who avail themselves of the services of the Special Master in negotiations with the Republic of Argentina shall have responsibility for their share of the fees and expenses of the Special Master. 3. The Special Master shall have the right to invoice the clients of Morgan Lewis & Bockius and Duane Morris for his services from April 22, 2016 through June 22, 2016 (and for services thereafter as the Special Master may determine appropriate) by invoicing the law firms as the representatives of their clients. These clients shall include Attestor Master Value Fund LP; Bybrook Capital Master Fund LP; Hazelton Master Fund LP; Trinity Investments Limited; White Hawthorne, LLC; and White Hawthorne II, LLC. Unless otherwise agreed between and among these clients, each shall be responsible for an equal share of one-half of the Special Master's fees and expenses. The Republic of Argentina shall remain responsible for its one-half of the Special Master's fees and expenses. 4. This Order shall apply to the above-captioned cases, all of which remain open, as well as any other cases against the Republic of Argentina in which the parties avail themselves of the services of the Special Master. 5. In all other respects the Order of Appointment of Special Master, June 23, 2014, as amended and supplemented by Order of November 3, 2014, shall remain in full force and effect. SO ORDERED. (Signed by Judge Thomas P. Griesa on 6/20/2016) (kl) (Entered: 06/20/2016)

#59

(#59) ORDER: IT IS HEREBY ORDERED that: Argentina shall identify promptly all series of Exchange Bonds to be paid by BNY Mellon under the Indenture (the "Exchange Bonds Payments"), listing for each series the interest to be paid and the interest per $1000 or euro 1000 (as applicable) principal amount of each series of Exchange Bonds. Upon the fulfillment of the two conditions precedent referenced in the March 2 Order vacating the Injunctions, Argentina is authorized and directed to perform all of its obligations under the Indenture including, without limitation, payment of all fees, expenses and other amounts owed or payable to BNY Mellon thereunder. Upon determination by this Court that the two conditions precedent referenced in the March 2 Order have been met and receipt of the information set forth in the preceding paragraph, BNY Mellon is authorized and directed to distribute amounts received from Argentina, including, without limitation, the funds which Argentina transferred into BNY Mellon's accounts at Banco Central de la Republica Argentina on June 26, 2014, in accordance with the Indenture. The record date for purposes of such payments shall be the fifth Business Day (as defined in the Indenture) after this Court determines that the two conditions precedent referenced in the March 2 Order have been met and the payment date of such amounts shall be no later than 15 days following such record date, as Argentina shall instruct BNY Mellon with no less than three Business Days written notice, and payments shall be made to Holders (as defined in the Indenture) of record as of the close of business on the record date. In accordance with the Indenture, such payments shall be prefunded by 1:00 p.m. local time on the Business Day (as defined in the Indenture) prior to the Payment Date. (As further set forth in this Order) (Signed by Judge Thomas P. Griesa on 4/19/2016) (kl) (Entered: 04/19/2016)

58 #1

Exhibit A--Proposed Order

#58

(#58) LETTER addressed to Judge Thomas P. Griesa from Michael A. Paskin dated April 19, 2016 re: requesting that the Court issue the Proposed Order attached hereto as Exhibit A. Document filed by The Republic of Argentina. (Attachments: #1 Exhibit A--Proposed Order)(Paskin, Michael) (Entered: 04/19/2016)

1 #8

Exhibit H- UBS US040114GD65

1 #7

Exhibit G- UBS US040114FC91

1 #6

Exhibit F- UBS US040114FB19

1 #5

Exhibit E- UBS US040114AV28

1 #4

Exhibit D- UBS US040114AR16

1 #3

Exhibit C- UBS US040114FC91

1 #2

Exhibit B- UBS US040114AR16

1 #1

Exhibit A- Fiscal Agency agreement 1994

#1

(#6) REQUEST FOR ISSUANCE OF SUMMONS as to The Republic of Argentina, re: #1 Complaint,,,. Document filed by Bybrook Capital Hazelton Master Fund LP, Bybrook Capital Master Fund LP. (Costantini, Anthony) (Entered: 09/17/2015)

#60

(#61) ORDER: On March 2, 2016, the court granted the Republic of Argentina's motion to vacate the pari passu injunctions upon the occurrence of two conditions precedent: (1) The Republic repeals all legislative obstacles to settlement with the FAA bondholders, including the Lock Law and the Sovereign Payment Law; (2) For all plaintiffs that entered into agreements in principle with the Republic on or before February 29, 2016, the Republic must make full payment in accordance with the specific terms of each such agreement. The Republic must also notify the court once those plaintiffs have all received full payment. Some plaintiffs appealed that March 2 vacatur order. On April 13, 2016, the Court of Appeals heard oral argument on the appeal and affirmed the vacatur order from the bench. The Court of Appeals then issued a written order, holding that this court did not abuse its discretion in ordering that the injunctions would be vacated upon satisfaction of the two conditions precedent. Aurelius Capital Master, Ltd. v. Republic of Argentina, No. 16-628, sum. order at 21 (2d Cir. Apr. 15, 2016). The Court of Appeals also noted that, at the time the Republic certifies it has satisfied the conditions precedent, this court should "take steps... to determine whether the conditions have indeed been met." Id. The Republic now certifies that it has satisfied the conditions precedent. In support of certification, the Republic submits two sworn declarations. The first is the declaration of Undersecretary of Finance Santiago Bausili, which shows that the Republic has repealed all legislative obstacles to settlement, including the Lock Law and the Sovereign Payment Law. The second is the declaration of Matthew Dukes, Director of Deutsche Bank Securities, which lists the settlement payments made to every plaintiff that entered into an agreement in principle by February 29, 2016. For each payment, the Dukes declaration confirms the plaintiffs name, settlement amount, and Fedwire reference number. Having carefully reviewed the Republic's submissions, the court now finds that the conditions precedent have been met. Accordingly, the injunctions are vacated in all cases. All stipulations of dismissal are to be filed with the court no later than 2:00 p.m. on April 25, 2016. (Signed by Judge Thomas P. Griesa on 4/22/2016) (tro) (Entered: 04/22/2016)

59 #3

Exhibit to Dukes Declaration

59 #2

Declaration of Matthew Dukes

59 #1

Declaration of Santiago Bausili with Exhibits

59 #694

(#60) LETTER addressed to Judge Thomas P. Griesa from Michael A. Paskin dated April 22, 2016 re: notifying the Court that the Republic has satisfied the two conditions precedent to vacatur of the injunctions pursuant to this Court's March 2, 2016 Opinion and Order. Document filed by The Republic of Argentina. (Attachments: #1 Declaration of Santiago Bausili with Exhibits, #2 Declaration of Matthew Dukes, #3 Exhibit to Dukes Declaration)(tro) (Entered: 04/22/2016)

117 More Documents Available

 

Docket Entries

  • 06/08/2017
  • DocketNOTICE OF CASE REASSIGNMENT to Judge Loretta A. Preska. Judge Thomas P. Griesa is no longer assigned to the case. (jc) (Entered: 06/08/2017)

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  • 06/20/2016
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  • Docket(#62) SECOND AMENDED AND SUPPLEMENTAL ORDER OF APPOINTMENT OF SPECIAL MASTER: The Order for Appointment of Special Master, June 23, 2014, as amended and supplemented by the Amended and Supplemental Order of Appointment of Special Master, November 3, 2014, is further amended and supplemented as follows: 1. From and after April 22, 2016, Elliot Capital Management and Aurelius Capital Management, who have settled their claims with the Republic of Argentina, shall have no further responsibility for the fees and expenses of the Special Master. 2. From and after April 22, 2016, those parties who avail themselves of the services of the Special Master in negotiations with the Republic of Argentina shall have responsibility for their share of the fees and expenses of the Special Master. 3. The Special Master shall have the right to invoice the clients of Morgan Lewis & Bockius and Duane Morris for his services from April 22, 2016 through June 22, 2016 (and for services thereafter as the Special Master may determine appropriate) by invoicing the law firms as the representatives of their clients. These clients shall include Attestor Master Value Fund LP; Bybrook Capital Master Fund LP; Hazelton Master Fund LP; Trinity Investments Limited; White Hawthorne, LLC; and White Hawthorne II, LLC. Unless otherwise agreed between and among these clients, each shall be responsible for an equal share of one-half of the Special Master's fees and expenses. The Republic of Argentina shall remain responsible for its one-half of the Special Master's fees and expenses. 4. This Order shall apply to the above-captioned cases, all of which remain open, as well as any other cases against the Republic of Argentina in which the parties avail themselves of the services of the Special Master. 5. In all other respects the Order of Appointment of Special Master, June 23, 2014, as amended and supplemented by Order of November 3, 2014, shall remain in full force and effect. SO ORDERED. (Signed by Judge Thomas P. Griesa on 6/20/2016) (kl) (Entered: 06/20/2016)

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  • 04/22/2016
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  • Docket(#61) ORDER: On March 2, 2016, the court granted the Republic of Argentina's motion to vacate the pari passu injunctions upon the occurrence of two conditions precedent: (1) The Republic repeals all legislative obstacles to settlement with the FAA bondholders, including the Lock Law and the Sovereign Payment Law; (2) For all plaintiffs that entered into agreements in principle with the Republic on or before February 29, 2016, the Republic must make full payment in accordance with the specific terms of each such agreement. The Republic must also notify the court once those plaintiffs have all received full payment. Some plaintiffs appealed that March 2 vacatur order. On April 13, 2016, the Court of Appeals heard oral argument on the appeal and affirmed the vacatur order from the bench. The Court of Appeals then issued a written order, holding that this court did not abuse its discretion in ordering that the injunctions would be vacated upon satisfaction of the two conditions precedent. Aurelius Capital Master, Ltd. v. Republic of Argentina, No. 16-628, sum. order at 21 (2d Cir. Apr. 15, 2016). The Court of Appeals also noted that, at the time the Republic certifies it has satisfied the conditions precedent, this court should "take steps... to determine whether the conditions have indeed been met." Id. The Republic now certifies that it has satisfied the conditions precedent. In support of certification, the Republic submits two sworn declarations. The first is the declaration of Undersecretary of Finance Santiago Bausili, which shows that the Republic has repealed all legislative obstacles to settlement, including the Lock Law and the Sovereign Payment Law. The second is the declaration of Matthew Dukes, Director of Deutsche Bank Securities, which lists the settlement payments made to every plaintiff that entered into an agreement in principle by February 29, 2016. For each payment, the Dukes declaration confirms the plaintiffs name, settlement amount, and Fedwire reference number. Having carefully reviewed the Republic's submissions, the court now finds that the conditions precedent have been met. Accordingly, the injunctions are vacated in all cases. All stipulations of dismissal are to be filed with the court no later than 2:00 p.m. on April 25, 2016. (Signed by Judge Thomas P. Griesa on 4/22/2016) (tro) (Entered: 04/22/2016)

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  • 04/22/2016
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  • Docket(#60) LETTER addressed to Judge Thomas P. Griesa from Michael A. Paskin dated April 22, 2016 re: notifying the Court that the Republic has satisfied the two conditions precedent to vacatur of the injunctions pursuant to this Court's March 2, 2016 Opinion and Order. Document filed by The Republic of Argentina. (Attachments: #1 Declaration of Santiago Bausili with Exhibits, #2 Declaration of Matthew Dukes, #3 Exhibit to Dukes Declaration)(tro) (Entered: 04/22/2016)

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  • 04/19/2016
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  • Docket(#59) ORDER: IT IS HEREBY ORDERED that: Argentina shall identify promptly all series of Exchange Bonds to be paid by BNY Mellon under the Indenture (the "Exchange Bonds Payments"), listing for each series the interest to be paid and the interest per $1000 or euro 1000 (as applicable) principal amount of each series of Exchange Bonds. Upon the fulfillment of the two conditions precedent referenced in the March 2 Order vacating the Injunctions, Argentina is authorized and directed to perform all of its obligations under the Indenture including, without limitation, payment of all fees, expenses and other amounts owed or payable to BNY Mellon thereunder. Upon determination by this Court that the two conditions precedent referenced in the March 2 Order have been met and receipt of the information set forth in the preceding paragraph, BNY Mellon is authorized and directed to distribute amounts received from Argentina, including, without limitation, the funds which Argentina transferred into BNY Mellon's accounts at Banco Central de la Republica Argentina on June 26, 2014, in accordance with the Indenture. The record date for purposes of such payments shall be the fifth Business Day (as defined in the Indenture) after this Court determines that the two conditions precedent referenced in the March 2 Order have been met and the payment date of such amounts shall be no later than 15 days following such record date, as Argentina shall instruct BNY Mellon with no less than three Business Days written notice, and payments shall be made to Holders (as defined in the Indenture) of record as of the close of business on the record date. In accordance with the Indenture, such payments shall be prefunded by 1:00 p.m. local time on the Business Day (as defined in the Indenture) prior to the Payment Date. (As further set forth in this Order) (Signed by Judge Thomas P. Griesa on 4/19/2016) (kl) (Entered: 04/19/2016)

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  • 04/19/2016
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  • Docket(#58) LETTER addressed to Judge Thomas P. Griesa from Michael A. Paskin dated April 19, 2016 re: requesting that the Court issue the Proposed Order attached hereto as Exhibit A. Document filed by The Republic of Argentina. (Attachments: #1 Exhibit A--Proposed Order)(Paskin, Michael) (Entered: 04/19/2016)

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  • 04/15/2016
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  • Docket(#57) MANDATE of USCA (Certified Copy) as to #54 Notice of Interlocutory Appeal, filed by Bybrook Capital Master Fund LP, Bybrook Capital Hazelton Master Fund LP. USCA Case Number 16-0628(L). Ordered, Adjudged and Decreed that the opinion and Order of the District Court is AFFIRMED. Catherine O'Hagan Wolfe, Clerk USCA for the Second Circuit. Issued As Mandate: 04/15/2016. (nd) (Entered: 04/18/2016)

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  • 04/14/2016
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  • Docket(#56) ORDER of USCA (Certified Copy) as to #54 Notice of Interlocutory Appeal, filed by Bybrook Capital Master Fund LP, Bybrook Capital Hazelton Master Fund LP. USCA Case Number 16-0628(L). On April 13, 2016, the Court heard oral argument in this consolidated expedited appeal taken from an order of the district court entered March 2, 2016. IT IS HEREBY ORDERED that the order of the district court is affirmed. A further order will follow in due course. Catherine O'Hagan Wolfe, Clerk USCA for the Second Circuit. Certified: 04/14/2016. (nd) (Entered: 04/14/2016)

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  • 03/11/2016
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  • Docket(#55) ORDER of USCA (Certified Copy) as to #54 Notice of Interlocutory Appeal, filed by Bybrook Capital Master Fund LP, Bybrook Capital Hazelton Master Fund LP. USCA Case Number 16-690. Appellants move to stay enforcement of the District Court's March 2, 2016 order pending resolution of the above-captioned appeals. Appellees consent to the motion. IT IS HEREBY ORDERED that the motion is GRANTED. Catherine O'Hagan Wolfe, Clerk USCA for the Second Circuit. Certified: 03/11/2016. (nd) (Entered: 03/15/2016)

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  • 03/04/2016
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  • DocketAppeal Record Sent to USCA (Electronic File). Certified Indexed record on Appeal Electronic Files for #54 Notice of Interlocutory Appeal, filed by Bybrook Capital Master Fund LP, Bybrook Capital Hazelton Master Fund LP were transmitted to the U.S. Court of Appeals. (nd) (Entered: 03/04/2016)

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54 More Docket Entries
  • 09/18/2015
  • DocketCASE OPENING INITIAL ASSIGNMENT NOTICE: The above-entitled action is assigned to Judge Unassigned. (rch) (Entered: 09/18/2015)

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  • 09/18/2015
  • DocketCASE REFERRED TO Judge Thomas P. Griesa as possibly related to 08-cv-6978. (rch) (Entered: 09/18/2015)

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  • 09/18/2015
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  • Docket(#7) ELECTRONIC SUMMONS ISSUED as to The Republic of Argentina. (rch) (Entered: 09/18/2015)

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  • 09/18/2015
  • Docket***NOTICE TO ATTORNEY REGARDING CASE OPENING STATISTICAL ERROR CORRECTION: Notice to attorney Anthony J. Costantini. The following case opening statistical information was erroneously selected/entered: County code XX Out of State;. The following correction(s) have been made to your case entry: the County code has been modified to XX Out of U.S.;. (rch) (Entered: 09/18/2015)

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  • 09/17/2015
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  • Docket(#6) REQUEST FOR ISSUANCE OF SUMMONS as to The Republic of Argentina, re: #1 Complaint,,,. Document filed by Bybrook Capital Hazelton Master Fund LP, Bybrook Capital Master Fund LP. (Costantini, Anthony) (Entered: 09/17/2015)

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  • 09/17/2015
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  • Docket(#5) RULE 7.1 CORPORATE DISCLOSURE STATEMENT. No Corporate Parent. Document filed by Bybrook Capital Master Fund LP.(Costantini, Anthony) (Entered: 09/17/2015)

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  • 09/17/2015
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  • Docket(#4) RULE 7.1 CORPORATE DISCLOSURE STATEMENT. No Corporate Parent. Document filed by Bybrook Capital Hazelton Master Fund LP.(Costantini, Anthony) (Entered: 09/17/2015)

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  • 09/17/2015
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  • Docket(#3) CIVIL COVER SHEET filed. (Costantini, Anthony) (Entered: 09/17/2015)

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  • 09/17/2015
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  • Docket(#2) RELATED CASE AFFIRMATION of Anthony J. Costantini, Esq. re: that this action be filed as related to 08-cv-6978. Document filed by Bybrook Capital Hazelton Master Fund LP, Bybrook Capital Master Fund LP.(Costantini, Anthony) (Entered: 09/17/2015)

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  • 09/17/2015
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  • Docket(#1) COMPLAINT against The Republic of Argentina. (Filing Fee $ 400.00, Receipt Number 0208-11398952)Document filed by Bybrook Capital Master Fund LP, Bybrook Capital Hazelton Master Fund LP. (Attachments: #1 Exhibit A- Fiscal Agency agreement 1994, #2 Exhibit B- UBS US040114AR16, #3 Exhibit C- UBS US040114FC91, #4 Exhibit D- UBS US040114AR16, #5 Exhibit E- UBS US040114AV28, #6 Exhibit F- UBS US040114FB19, #7 Exhibit G- UBS US040114FC91, #8 Exhibit H- UBS US040114GD65, #9 Exhibit I- LAW 26017, #10 Exhibit J- LAW 26547, #11 Exhibit K- 12-07-11 order granting summary judgment, #12 Exhibit L- 02-23-12 Order, #13 Exhibit M- 11-21-12 Amended 02-23-12 Order, #14 Exhibit N- 09-29-14 Order, #15 Exhibit O- 10-03-14 Order)(Costantini, Anthony) (Entered: 09/17/2015)

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