Federal Deposit Insurance Corporation as Receiver for Indymac Bank FSB v. Frankel et al

Filing 61

ORDER Regarding Status of Settlement and Dismissal. Signed by Judge Lucy H. Koh on 4/26/2012. (lhklc2, COURT STAFF) (Filed on 4/26/2012)

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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA

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SAN JOSE DIVISION

United States District Court
For the Northern District of California

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FEDERAL DEPOSIT INSURANCE
CORPORATION as Receiver for INDYMAC
BANK, F.S.B.,
Plaintiff,
v.
BORIS FRANKEL, an individual and dba
APPRAISAL CHOICE; and ALEXANDER
FURMAN, an individual and dba REAL
WORLD
Defendants.

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Case No.: 11-CV-03279-LHK
ORDER REGARDING STATUS OF
SETTLEMENT AND DISMISSAL

The parties have indicated that they have agreed to a settlement in principle between all

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parties. The terms of the settlement between the parties dictate that FDIC will not file its stipulated

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dismissal as to defendant Frenkel until after defendant Frenkel makes his monetary payment to

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FDIC, which is to take place within 30 days after the formal settlement agreement is signed. The

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parties anticipate that the settlement agreement will be signed next week. Accordingly, FDIC and

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defendant Frenkel shall file a stipulated dismissal by June 4, 2012.

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Additionally, the parties have indicated that FDIC will not file its stipulated dismissal as to

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defendant Furman until after defendant Furman makes his monetary payment to FDIC, which is to

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take place within five months after the formal settlement agreement is signed. Accordingly, prior

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to the further case management conference set for July 18, 2012, FDIC and defendant Furman shall

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Case No.: 11-CV-03279-LHK
ORDER REGARDING STATUS OF SETTLEMENT AND DISMISSAL

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file a Joint Case Management Statement setting forth the status of the settlement agreement as

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between those parties. All other case schedule deadlines remain as set.

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IT IS SO ORDERED.

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Dated: April 26, 2012

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LUCY H. KOH
United States District Judge

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United States District Court
For the Northern District of California

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Case No.: 11-CV-03279-LHK
ORDER REGARDING STATUS OF SETTLEMENT AND DISMISSAL