AGK Sierra de Montserrat, L.P. v. Comerica Bank

Filing 27

STIPULATION AND ORDER TO STAY ACTION signed by District Judge Kimberly J. Mueller on 10/12/16, ORDERING that this action is STAYED in its entirety through 5/5/2017. The current trial date and all other dates in the Court's 11/5/2015 Scheduling Order are VACATED. The parties are to file a joint status report on 5/4/2017, or within seven(7) days of the end of the Westwood action, whichever occurs first. A Status Conference is SET for 5/11/2017 at 02:30 PM in Courtroom 3 (KJM) before District Judge Kimberly J. Mueller. (Kastilahn, A)

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1 Timothy J. Gorry, Esq. (State Bar No. 143797) Edward E. Johnson, Esq. (State Bar No. 241065) 2 THEODORA ORINGHER PC 1840 Century Park East, Suite 500 3 Los Angeles, California 90067-2120 Telephone: (310) 557-2009 4 Facsimile: (310) 551-0283 5 Attorneys for Plaintiff AGK Sierra de Montserrat, L.P. 6 7 8 UNITED STATES DISTRICT COURT 9 EASTERN DISTRICT OF CALIFORNIA - SACRAMENTO DIVISION 10 11 AGK SIERRA de MONTSERRAT, L.P., a Delaware limited partnership, 12 Plaintiff, 13 vs. 14 COMERICA BANK, a Texas 15 corporation; and DOES 1 through 10, inclusive, 16 Defendants. 17 Case No. 2:15-cv-01280-KJM-DAD Honorable Kimberly J. Mueller STIPULATION AND ORDER TO STAY ACTION Complaint Filed: April 29, 2015 Trial Date: July 17, 2017 18 19 Plaintiff AGK Sierra de Montserrat, L.P. (“AGK”) and Defendant Comerica 20 Bank (“Comerica”) hereby stipulate and agree as follows: 21 WHEREAS, AGK alleges in this indemnity action that Comerica is obligated to 22 indemnify it for any liability and expenses incurred in certain litigation matters, 23 including a case pending in the California Superior Court, County of Placer, titled 24 Westwood Montserrat, Ltd. v. AGK Sierra de Montserrat, Ltd., et al., Case No. 25 SCV0032447 (the “Westwood Action”); 26 WHEREAS, trial in the Westwood Action is currently set for February 27, 2017; 27 WHEREAS, because Comerica’s potential liability in this action might depend 28 on the outcome of the Westwood Action, the parties are unable to complete discovery 1024908.2/22418.05004 1 STIPULATION AND ORDER TO STAY ACTION 2:15-cv-01280-KJM-DAD 1 or meaningfully consider settlement until the Westwood Action is resolved; 2 WHEREAS, among other things, according to the operative complaint in the 3 Westwood Action, the plaintiff is seeking at least $2 million in damages or restitution, 4 so a judgment in AGK’s favor in the Westwood Action would potentially reduce 5 AGK’s alleged damages and Comerica’s alleged liability in this action by at least $2 6 million, increasing the likelihood of any settlement; 7 WHEREAS, on November 5, 2015, the Court entered a scheduling order setting 8 the final pretrial conference for May 19, 2017, trial for July 17, 2017, and other case 9 deadlines [ECF Docket No. 11]; 10 WHEREAS, the parties agree that a stay of approximately seven months, roughly 11 two months after the anticipated completion of the trial in the Westwood Action, is 12 warranted to conserve judicial resources and the resources of the parties, to permit time 13 for resolution of the Westwood Action, and provide the parties with the opportunity to 14 meaningfully consider settlement in light of the outcome of the Westwood Action; 15 WHEREAS, this Stipulation and Order is without prejudice to the right of either 16 party to request at any time that the Court lift the stay at any time prior to May 5, 2017, 17 or extend the stay past May 5, 2017. 18 NOW, THEREFORE, IT IS HEREBY STIPULATED that: 19 (1) this action should be stayed in its entirety through May 5, 2017; 20 (2) the current trial date and all other dates in the Court’s November 5, 2015 21 Scheduling Order should be vacated; and 22 (3) a scheduling conference should be set for _________, 2017 to reset the 23 trial date and other case deadlines. 24 25 26 27 28 1024908.2/22418.05004 2 STIPULATION AND ORDER TO STAY ACTION 2:15-cv-01280-KJM-DAD 1 2 3 IT IS SO STIPULATED. DATED: October 5, 2016 4 THEODORA ORINGHER PC By: /s/ Edward E. Johnson 5 Timothy J. Gorry Edward E. Johnson Attorneys for Plaintiff AGK Sierra de Montserrat, L.P. 6 7 8 9 DATED: October 5, 2016 LEWIS BRISBOIS BISGAARD & SMITH LLP 10 By: /s/ Frank R. Perrott (as authorized on 10/5/2016) Frank R. Perrott Attorneys for Defendant Comerica Bank 11 12 13 14 15 IT IS SO ORDERED that: 16 (1) this action is stayed in its entirety through May 5, 2017; 17 (2) the current trial date and all other dates in the Court’s November 5, 2015 18 Scheduling Order are vacated; 19 (3) the parties are to file a joint status report on May 4, 2017, or within seven 20 (7) days of the end of the Westwood action, whichever occurs first; and 21 (4) a status conference is set for May 11, 2017, at 2:30 p.m. 22 Dated: October 12, 2016 23 24 UNITED STATES DISTRICT JUDGE 25 26 27 28 1024908.2/22418.05004 3 STIPULATION AND ORDER TO STAY ACTION 2:15-cv-01280-KJM-DAD

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