EMIII Holdings, LLC et al v. First NBC Bank, et al

Filing 4

ORDER granting 3 Motion to Stay. IT IS FURTHER ORDERED that this matter is STAYED and ADMINISTRATIVELY CLOSED for a period of 180 days. The Clerk of Court shall mark this action closed for statistical purposes. The Court shall retain jurisdiction and the case shall be restored to the trial docket upon motion of a party at the expiration of 180 days from the date of this order. Signed by Judge Nannette Jolivette Brown on 8/28/2017. (cms)

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF LOUISIANA
EMIII HOLDINGS, LLC, et al.

CIVIL ACTION

VERSUS

CASE NO. 17-5367

FIRST NBC BANK, et al.

SECTION: “G” (2)

ORDER
Before the Court is the Federal Deposit Insurance Corporation’s (acting as receiver for
First NBC Bank, the “FDIC-R”) “Motion to Stay Action Pending Exhaustion of Administrative
Remedies.”1 The FDIC-R moves the Court to stay the present action for 180 days, pending parties’
exhaustion of their administrative remedies as set forth in section 1821 of the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989 (“FIRREA”), or, in the alternative, for a stay of
90 days as provided for by the statute.2 The motion was filed on June 19, 2017, and set for
submission on July 5, 2017.3 Pursuant to Local Rule 7.5, any opposition to a motion must be filed
eight days before the noticed submission date. Accordingly, any opposition to the pending motion
was due no later than June 27, 2017. Plaintiffs have filed no opposition to the motion, and therefore
Defendants’ motion is deemed to be unopposed. This Court has authority to grant an unopposed
motion, although it is not required to do so.4

1

Rec. Doc. 3.

22

Id.

3

Id.

4

Edward H. Bohlin Co. v. Banning Co., 6 F.3d 350, 356 (5th Cir. 1993).

1

Having considered the unopposed motion, the memorandum in support, and the applicable
law, the Court will grant a stay of this case for a period of 180 days and administratively close it
until that time.
12 U.S.C. § 1821(d)(12)(A) provides that “[a]fter the appointment of a conservator
or receiver for an insured depository institution, the conservator or receiver may request a stay for
a period not to exceed . . . 90 days, in the case of any receiver, in any judicial action or proceeding
to which such institution is or becomes a party.” 12 U.S.C. § 1821(d)(12)(B) further provides that
“the court shall grant such stay as to all parties.”5 Therefore, having requested it, the FDIC-R is
entitled to a 90 day stay.
However, the FDIC-R requests a discretionary stay of 180 days pending all parties’
exhaustion of their administrative remedies pursuant to FIRREA.6 Plaintiffs do not oppose the
request. A district court has the inherent power to “control the disposition of the causes on its
docket with economy of time and effort for itself, for counsel, and for litigants.”7 This authority
includes the district court’s wide discretion to grant a stay in a pending matter.8 Furthermore, no
part of FIRREA prohibits the Court from discretionarily granting a stay in excess of 90 days.
Indeed, “[a] number of courts have held that litigation may be stayed during such portion of the
receiver’s 180-day period as remains at the time of the application for stay.”9

5

12 U.S.C. § 1821 (d)(12)(B).

6

Rec. Doc. 3. at 1.

7

Landis v. North American Co., 299 U.S. 248, 254 (1936).

8

In re Ramu Corp., 903 F.2d 312, 318 (5th Cir. 1990).

9

11 Am. Jur. 2d Banks and Financial Institutions § 1097 (2017).

2

IV. Conclusion
In order to allow compliance with the mandatory review process under FIRREA, the Court,
in its discretion, will grant a stay of this case for a period of 180 days and administratively close it
until that time. Accordingly,
IT IS HEREBY ORDERED that Federal Deposit Insurance Corporation’s Motion to Stay
Action Pending Exhaustion of Administrative Remedies10 is GRANTED.
IT IS FURTHER ORDERED that this matter is STAYED and ADMINISTRATIVELY
CLOSED for a period of 180 days. The Clerk of Court shall mark this action closed for statistical
purposes. The Court shall retain jurisdiction and the case shall be restored to the trial docket upon
motion of a party at the expiration of 180 days from the date of this order.

28th

NEW ORLEANS, LOUISIANA, this ____ day of August, 2017.

_________________________________
NANNETTE JOLIVETTE BROWN
UNITED STATES DISTRICT JUDGE

10

Rec. Doc. 3.

3