Filing 68

ORDER GRANTING 67 Request to Extend Deadline. The Parties shall file the necessary documents to close this proceeding by no later than 8/31/10. Signed by Chief Judge Roger L. Hunt on 7/30/10. (Copies have been distributed pursuant to the NEF - ECS)

Case 2:09-cv-01946-RLH-LRL Document 67

Filed 07/28/10 Page 1 of 13

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

DIAMOND MCCARTHY LLP
909 Fannin, Suite 1500 Houston, Texas 77010 Telephone [phone] Facsimile [phone] All an B. Diamond, TX State Bar No. 05801800 Email: [e-mail] Eric D. Madden, TX State Bar No. 24013079 Email: [e-mail] Special Litigation Counsel for USA Capital Diversified Trust Deed Fund, LLC

LEWIS AND ROCA LLP
3993 Howard Hughes Parkway, Suite 600 Las Vegas, Nevada 89169-5996 Telephone [phone] Facsimile [phone] Rob Charles, NV State Bar No. 006593 Email: [e-mail]

Counsel for USACM Liquidating Trust

UNITED STATES DISTRICT COURT DISTRICT OF NEVADA USA CAPITAL DIVERSIFIED TRUST DEED FUND, LLC, Plaintiff, v. STANLEY E. FULTON, Defendant. JOINT STATUS REPORT AND REQUEST TO EXTEND DEADLINE TO CLOSE CASE CASE NO. 2:09-CV-01946-RLH-LRL Bankruptcy No. BK-S-06-01725-LBR Adversary No. 08-01132-LBR

Plaint iff USA Capital Diversified Trust Deed Fund, LLC ("DTDF") and Defendant Stanley E. Fulton ("Fulton", collectively with DTDF the "Parties") hereby file this Joint Status Report and Request to Extend Deadline to Close Case ("Status Report") and state as follows: At the hearing on June 23, 2010, the Parties advised the Court that a settlement had been reached in principal and that the Parties were continuing to negotiate the final terms of the settlement and anticipated filing a motion to approve the proposed compromise in the Bankruptcy Court for hearing in July. As a result of these representations at the June 23, 2010 hearing, the Court established a deadline of July 30, 2010, to file the necessary pleadings to close this case. Negotiations have taken longer than originally anticipated; however, the Parties have recently finalized and executed the settlement agreement and are in the process of finalizing the

1

Case 2:09-cv-01946-RLH-LRL Document 67

Filed 07/28/10 Page 2 of 13

necessary pleadings to obtain approval of the compromise from the Bankruptcy Court. A copy 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 By: /s/ Timothy R. O'Reilly John F. O'Reilly, NV 1761 Timothy R. O'Reilly, NV 8866 325 South Maryland Parkway Las Vegas, Nevada 89101 E-Mail: [e-mail] Attorneys for Defendant Stanley E. Fulton A Attorneys for Defendant Stanley E. Fulton By: /s/ Steven J. Katzman Steven J. Katzman, CA 132755 115 Avenida Miramar San Clemente, California 92672 [phone] (telephone) ( [phone] (facsimile) E Email: [e-mail] the Parties request that the Court extend the deadline to file closing papers until August 31, 2010, to allow sufficient time to obtain Bankruptcy Court approval of the proposed settlement. Dated: July 28, 2010 DIAMOND MCCARTHY LLP By: /s/ Eric D. Madden Allan B. Diamond, TX 05801800 (pro hac vice) Eric D. Madden, TX 24013079 (pro hac vice) Michael J. Yoder, TX 24056572 (pro hac vice) 909 Fannin, Suite 1500 Houston, Texas 77010 [phone] (telephone) [phone] (facsimile) Special Litigation Counsel for USA Capital Diversified Trust Deed Fund, LLC O'REILLY LAW GROUP, LLC LEWIS AND ROCA LLP By: /s/ Rob Charles Rob Charles, NV 6593 3993 Howard Hughes Parkway, Suite 600 Las Vegas, Nevada 89169-5996 [phone] (telephone) [phone] (facsimile) Counsel for USACM Liquidating Trust of the signed settlement agreement is attached hereto as Exhibit "A." It is anticipated that a hearing on approval of the settlement will be held prior to the end of August 2010. Accordingly,

BIENERT, MILLER & KATZMAN

2

Case 2:09-cv-01946-RLH-LRL Document 67

Filed 07/28/10 Page 3 of 13

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

ORDER It is hereby ORDERED that the Parties shall file the necessary documents to close this proceeding by no later than August 31, 2010.

The Honorable Roger L. Hunt United States District Judge

3