Pham et al v. ComUnity Lending Inc.

Filing 48

ORDER AUTHORIZING WITHDRAWAL OF FUNDS BY THE TRUSTEE FOR THE PAYMENT OF SETTLEMENTS re (258 in 5:08-cv-00201-JW) Stipulation, filed by Mai Christina Pham, Phyllis Heinricks, Jeanne Rupert, Hung Perry Nguyen, Christopher Hake, Mai Nguyen, John Nelson, Joyce Freeman, Janene Towner, John W. Richardson, Jack Ferguson, John Pham, Katherine Buckmeyer. Signed by Judge James Ware on 8/15/11. (sis, COURT STAFF) (Filed on 8/15/2011)

4

es Ware

NO

5

ERED

O ORD
IT IS S
m
Judge Ja

7

A

H

ER

LI

RT

6

R NIA

3

FO

UNIT
ED

2

S DISTRICT
TE
C
TA

RT
U
O

S

1

N

F
D IS T IC T O
R
UNITED STATES DISTRICT COURT

8
9

C

NORTHERN DISTRICT OF CALIFORNIA

10

In re

11

Case No. 08-00201 JW
Case No. 07-05436 JW

COMUNITY LENDING, INCORPORATED,
a California corporation (plus dbas of the
Debtor),

The Honorable James Ware

12
13
14

[Bankr. Case No. 08-50030 CN
The Honorable Charles Novack
Chapter 7, Adversary Proceeding No. 0805006]

Debtor.
MAI CHRISTINA PHAM, et al.

15

ORDER AUTHORIZING THE
WITHDRAWAL OF FUNDS BY THE
TRUSTEE FOR THE PAYMENT OF
SETTLEMENTS

Plaintiffs,

16

v.

17

COMUNITY LENDING INCORPORATED,
a California corporation, and Does 1 through
10, inclusive

18
19

Defendants.

20
21

AND RELATED CROSS-ACTIONS

22
23
24
25
26
27

On August 15, 2011, counsel executed and filed a “STIPULATION TO RELEASE
FUNDS FOR PAYMENT OF SETTLEMENTS” in which the parties consented to the Court’s
entry of an order allowing the Chapter 7 Bankruptcy Trustee John W. Richardson to withdraw the
Top Hat funds on deposit in two bank accounts for the purpose of paying the settlements that have
been reached in this case and in the related Top Hat cases. Based on the parties’ stipulation, the

28
1
301272177.1

ORDER AUTHORIZING THE WITHDRAWAL
OF FUNDS BY THE TRUSTEE FOR THE
PAYMENT OF SETTLEMENTS

1

Bankruptcy Court’s August 8, 2011 order approving the Top Hat settlements (Doc # 480 in In re

2

Com Unity Lending Incorporated, Bankruptcy Case No. 08-50030), and for good cause appearing,

3

IT IS HEREBY ORDERED as follows:

4

This Court has previously issued orders attaching and precluding the withdrawal of the

5

funds on deposit in two bank accounts at Heritage Bank of Commerce, 300 Main Street,

6

Pleasanton, CA 94566-7325 (“Heritage Bank”), which accounts are: (1) Account No. 52300140,

7

which had a balance of $230,212.14 as of July 29, 2011, and (2) Account No. 523001295, which

8

had a balance of $5,035,944.49 as of July 29, 2011 (collectively the “Two Accounts”). The prior

9

Court orders relating to the Two Accounts are hereby set aside for the purpose of allowing the

10

Chapter 7 Bankruptcy Trustee of Com Unity Lending Incorporated, John W. Richardson, to

11

withdraw all of the funds from the Two Accounts for the purpose of paying the settlements

12

referred to above. Heritage Bank is hereby authorized to allow the withdrawal of all of the funds

13

on deposit in the Two Accounts to the Bankruptcy Trustee, without any further order from this

14

Court, including the withdrawal of all interest that has accrued on the deposits in the Two

15

Accounts up to and including the date the funds are withdrawn.

16
17
18

August 15, 2011
DATED: ____________________

____________________________________
JAMES WARE
United States District Court Judge

19
20
21
22
23
24
25
26
27
28
2
301272177.1

ORDER AUTHORIZING THE WITHDRAWAL
OF FUNDS BY THE TRUSTEE FOR THE
PAYMENT OF SETTLEMENTS