Guinn et al v. Federal Deposit Insurance Corporation et al

Filing 16

ORDER Granting 15 Stipulation STAYING CASE. Signed by Judge Philip M. Pro on 5/4/2010. (Copies have been distributed pursuant to the NEF - SD)

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JOINTLY SUBMITTED

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UNITED STATES D1STRICT COURT DISTRICT OF NEVADA JEFFREY B. GUINN, individually and as) Case No: 2:09-cv-01809-PMP-GWF Trustee of THE DEL MAR TRUST, et al.,) Plaintiffs, vs.

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FEDERAL DEPOSIT INSURANCE CORPORATION, AS RECEIVER FOR COMMUNITY BANK OF NEVADA; 15 DOE INDIVIDUALS I-XX; ROE l6l CORPORATIONS I-XX,
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STIPULATION AND PROPOSED ORDER TO STAY PROCEEDINGS (SECOND REQUEST)

Defendant/Counterclaimant. FEDERAL DEPOSIT INSURANCE CORPORATION, AS RECEIVER FOR COMMUNITY BANK OF NEVADA., Plaintiff, vs. CORONADO NEVADA, LLC; DOE INDIVIDUALS I-XX; ROE CORPORATIONS I-XX, Defendants.

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Pursuant to LR 6-2 and LR 7-1, the parties stipulate to extend the 180 day stay entered by this Court on December 24, 2009 (#14) on the following basis:
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12 U.S.C.

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1821(d) establishes an administrative process for

claims against the FDIC in its capacity as Receiver of a failed financial institution. 2. Plaintiffs in this action have submitted their administrative

claims as required by statute.
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3.

12 U.S.C.

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1821(d)(5)(A)(i) gives the FDIC 180 days to render

a decision on plaintiffs' claims, and, under 12 U.S.C.

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1821(d)(13)(D), the Court

may, and the parties submit, should, stay the case during the pendency of that
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administrative claims process. See, e.g. Marquis v. FDIC, 965 F.2d 1148, 1155 (1st Cir. 1992) ("The court may. proceedings.
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in its discretion

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and ordinarily should

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stay

so as to permit exhaustion of the mandatory administrative

115I claims review process.").
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4.

The parties previously stipulated to stay this case for 180 days

or until the FDIC as Receiver rendered a decision on plaintiffs' claims, whichever
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came first (#13). 5. On the parties' stipulation, the Court stayed this case for up to

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180 days, commencing on December 24, 2009, to allow the claims process to proceed (#14). 6. Plaintiffs have now agreed to extend the claims process for an

additional 180 days as permitted by 12 U.S.C.

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1821(d)(5)(A)(ii).

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7.

Based on this, the parties stipulate to stay extend the current

stay until November 11, 2010 or until the FDIC as Receiver renders a decision on
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p1aintiffs claims, whichever comes first. This second extension is warranted, the parties submit, to permit the parties to attempt to resolve the claims presented in this case through mediation. BAILEY KENNEDY MORRIS PETERSON

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By /s/ Kimberly McGhee Dennis L. Kennedy, No. 1462 Kimberly McGhee, No. 9728 Craig Henderson, No. 10077 8984 Spanish Ridge Avenue Las Vegas, Nevada 89148

By /s/ Robert McCoy Robert McCoy, No. 9121 Rex D. Garner, No. 9401 900 Bank of America Plaza 300 South Fourth Street Las Vegas, Nevada 89101 Attorneys for Federal Deposit Insurance Corporation, as Receiver for Community Bank of Nevada

Attorneys for Jeffrey B. Guinn and Monica A. Guinn, individually and as 13j Trustees of the Del Mar Trust, R. Kent Barry and Mary Sunshine Barry, individually and as Trustees of the Barry Family Trust, Sean P. Corrigan 15 and Lisa D. Corrigan, individually and as Trustees of the S&L Corrigan Family 16 Trust, Coronado Canyons, LLC, Pacific Sunset Development, LLC, Coronado 17 Bay Investments, LLC, Aspen Financial Sefvices, LLC, Coronado Aspen 11, 18 LLC, and Coronado Nevada, LLC

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ORDER

IT IS SO ORDERED. UNITED STATES DISTRICT JUDGE DATED:
ay 4, 2010

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