Slakey Brothers, Inc. v. Indymac Bank F.S.B.

Filing 10

ORDER REMANDING CASE to Sonoma County Superior Court (SCV 242685). Signed by Judge Illston on 4/21/09. (ts, COURT STAFF) (Filed on 4/23/2009)

Case 3:09-cv-00929-SI

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JOHN F. CAVIN, ESQ. (S.B. #88946) HELEN V. POWERS, ESQ. (S.B. #175164) STEVEN J. KAHN, ESQ. (S.B. #234104) THOMAS D. FAMA, ESQ. (S.B. #261477) BARDELLINI, STRAW, CAVIN & BUPP, LLP 2000 Crow Canyon Place, Suite 330 San Ramon, California 94583-3591 Telephone: [phone] Facsimile: [phone] Attorneys for FEDERAL DEPOSIT INSURANCE CORPORATION as Receiver for INDYMAC BANK F.S.B. UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SLAKEY BROTHERS, INC., a California corporation, ) ) ) Plaintiffs, ) ) v. ) ) INDYMAC BANK F.S.B., a California banking ) corporation; et al. ) ) Defendants ) ) ) AND CONSOLIDATED ACTIONS. ) ________________________________________ ) Case No. C09-00929 STIPULATION AND [PROPOSED] ORDER TO REMAND SONOMA COUNTY SUPERIOR COURT CASE NO. SCV 242685 TO STATE COURT

FACTUAL BACKGROUND 1. On or about June 17, 2008 GENERAL ELECTRIC COMPANY, GE CONSUMER &

INDUSTRIAL PRODUCTS DIVISION ("General Electric") filed a complaint in the Superior Court of the State of California for the County of Sonoma entitled General Electric Company GE Consumer and Industrial Products Division v. Menlo Oaks Corporation, et al., Case No. 242685 (the "General Electric Action"). IndyMac Bank, F.S.B. ("IndyMac") was named as a defendant in the General Electric Action. 2. On or about July 11, 2008 IndyMac was closed by the Office of Thrift Supervision and the

FEDERAL DEPOSIT INSURANCE CORPORATION as Receiver for INDYMAC BANK F.S.B. (the "FDIC") was appointed as receiver for IndyMac. The FDIC accepted its appointment as receiver of IndyMac on July 11, 2008. Pursuant to 12 U.S.C. Section 1821(c)(2)(A)(i), the FDIC assumed all rights, titles,
1 S T IP U L A T I O N AND ORDER TO REM A N D SONOM A COUNTY SUPERIOR COURT C A S E NO. SCV 242685 TO STATE COURT C a s e N o . C09-00929

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powers, privileges, and operations of IndyMac, stands in the shoes of IndyMac to respond to all claims of liability against IndyMac, and thus stands in the shoes of IndyMac as defendant for purposes of responding to General Electric's claims of liability. 3. On February 18, 2009, in order to protect its interests, the FDIC substituted itself in the place

of IndyMac as a defendant in the General Electric Action. 4. On or about March 9, 2009 the FDIC removed the General Electric Action from the Superior

Court of the State of California for the County of Sonoma to the United States District Court for the Northern District of California, pursuant to 12 U.S.C. Section 1819(b)(2) and 28 U.S.C. Sections 1441(b), 1446(a) and 1446(d). STIPULATION 5. General Electric has resolved its claims against defendant Menlo Oaks Corporation as alleged

in the General Electric Action. 6. 7. General Electric seeks to dismiss the FDIC as a defendant in the General Electric Action. General Electric seeks to have the Superior Court of the State of California for the County

of Sonoma retain jurisdiction over the General Electric action for purposes of enforcing General Electric's settlement with defendant Menlo Oaks Corporation. 8. Accordingly, the FDIC and General Electric stipulate to the remand of the General Electric

Action to the Superior Court of the State of California for the County of Sonoma to allow General Electric to dismiss the FDIC from the General Electric Action. 9. The FDIC and General Electric further stipulate that upon remand of the General Electric

Action to the Superior Court of the State of California for the County of Sonoma, General Electric shall dismiss the FDIC from the General Electric Action with prejudice. 10. The FDIC and General Electric further stipulate that each party shall bear its own attorneys'

fees and costs relating to the General Electric Action. /// /// /// ///
2 S T IP U L A T I O N AND ORDER TO REM A N D SONOM A COUNTY SUPERIOR COURT C A S E NO. SCV 242685 TO STATE COURT C a s e N o . C09-00929

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17 Dated: April ____, 2009

BARDELLINI, STRAW, CAVIN & BUPP, LLP

/s/ JOHN F. CAVIN** By: ____________________________________ JOHN F. CAVIN HELEN V. POWERS STEVEN J. KAHN THOMAS D. FAMA Attorneys for FEDERAL DEPOSIT INSURANCE CORPORATION as Receiver for INDYMAC BANK F.S.B. 15 Dated: April ____, 2009

KENNETH R. REYNOLDS, INC.

s/ KENNETH __ REYNOLDS** By: __/_____________R. ___________________ KENNETH R. REYNOLDS Attorneys for GENERAL ELECTRIC COMPANY, GE CONSUMER & INDUSTRIAL PRODUCTS DIVISION

*** ORIGINAL SIGNATURES ON FILE

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JOHN F. CAVIN, ESQ. (S.B. #88946) HELEN V. POWERS, ESQ. (S.B. #175164) STEVEN J. KAHN, ESQ. (S.B. #234104) THOMAS D. FAMA, ESQ. (S.B. #261477) BARDELLINI, STRAW, CAVIN & BUPP, LLP 2000 Crow Canyon Place, Suite 330 San Ramon, California 94583-3591 Telephone: [phone] Facsimile: [phone] Attorneys for FEDERAL DEPOSIT INSURANCE CORPORATION as Receiver for INDYMAC BANK F.S.B. UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SLAKEY BROTHERS, INC., a California corporation, ) ) ) Plaintiffs, ) ) v. ) ) INDYMAC BANK F.S.B., a California banking ) corporation; et al. ) ) Defendants ) ) ) AND CONSOLIDATED ACTIONS. ) ________________________________________ ) Case No. C09-00929 [PROPOSED] ORDER TO REMAND SONOMA COUNTY SUPERIOR COURT CASE NO. SCV 242685 TO STATE COURT

On reading the stipulation between the FEDERAL DEPOSIT INSURANCE CORPORATION as Receiver for INDYMAC BANK F.S.B. and GENERAL ELECTRIC COMPANY, GE CONSUMER & INDUSTRIAL PRODUCTS DIVISION, good cause appearing, IT IS HEREBY ORDERED that Sonoma County Superior Court Case No. 242683, entitled General Electric Company GE Consumer and Industrial Products Division v. Menlo Oaks Corporation, et al. is hereby remanded from the United States District Court for the Northern District of California to the Superior Court of the State of California for the County of Sonoma. 4/21/09 Dated: ______________________, 2009

______________________________________ JUDGE OF THE DISTRICT COURT

4 S T IP U L A T I O N AND ORDER TO REM A N D SONOM A COUNTY SUPERIOR COURT C A S E NO. SCV 242685 TO STATE COURT C a s e N o . C09-00929