Plata Capital Limited v. Financial Technology Partners L.P. and FTP Securities…

Discovery dispute

Financial Technology Partners L.P. and FTP Securities LLC, collectively called FT Partners in the order, moved to compel Plata Capital Limited to produce unredacted copies of certain communications between Plata and North Haven Capital, described as a third-party minority investor. Plata defended the redactions under the attorney work-product doctrine and, alternatively, the common-interest doctrine. The court ordered Plata to submit unredacted copies for private judicial review.

Work-product ruling

The court held that the limited redactions were protected by the work-product doctrine, which generally protects materials prepared because of expected litigation, including materials revealing litigation-related mental impressions, conclusions, opinions, or theories. Based on the documents and their surrounding context, the court found that the redacted portions were prepared in anticipation of litigation. It also found that the materials were not prepared in the ordinary course of business, or would not have been created in essentially the same form without the prospect of litigation.

The court further held that Plata’s disclosure of the communications to North Haven Capital did not waive work-product protection. Because the court resolved the dispute under the work-product doctrine, it did not consider Plata’s separate argument based on the common-interest doctrine.

Disposition

The court denied FT Partners’ request to compel Plata to produce unredacted copies of the disputed materials. It also granted FT Partners’ motion to file under seal its unredacted motion to compel and attached exhibits, and granted Plata’s motion to file under seal its unredacted opposition. Judge Paul A. Engelmayer’s order therefore resolved the discovery dispute without requiring production of the unredacted materials.