JPMorgan Chase Bank, N.A. v. Meritage Homes Corp. et al

Filing 151

ORDER Granting 150 Stipulation. The remaining $485,198.27 of the 137 Amended Supersedeas Bond filed on 4/22/2014 and issued by Arch Insurance Company is DISCHARGED. Arch Insurance Company is exonerated from liability on the Amended Meritage Bond. Signed by Judge Jennifer A. Dorsey on 8/16/2017. (Copies have been distributed pursuant to the NEF - cc: Finance - SLD)

Case 2:11-cv-01364-JAD-CWH Document 150 Filed 08/15/17 Page 1 of 4

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Douglas C. Northup (Admitted Pro Hac Vice)
FENNEMORE CRAIG, P.C.
2394 E. Camelback Road, Suite 600
Phoenix, Arizona 85016-3429
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
Attorney for Defendants
Meritage Homes Corporation and
Meritage Homes of Nevada, Inc.

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UNITED STATES DISTRICT COURT

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DISTRICT OF NEVADA

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INSOLVENCY SERVICES GROUP, INC.,
Plaintiff,

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Case No.: 2:11-cv-01364-JAD-(CWH)
(Rule 62(d), F.R.Civ.P.; Local Rule 65.1)

v.
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Bond No. SU 1120744
MERITAGE HOMES CORPORATION; and
MERITAGE HOMES OF NEVADA, INC.,
STIPULATION AND ORDER TO
EXONERATE ARCH INSURANCE
Defendants.
COMPANY AS SURETY AND
DISCHARGE BOND
ECF No. 150

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This stipulation is entered into by and between Meritage Homes Corporation and Meritage

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Homes of Nevada, Inc. (“Meritage”) and Insolvency Services Group, Inc. (“Insolvency”), by and

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through their undersigned counsel, with reference to the following facts:

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1.

Pursuant to the Court’s July 17, 2013 Order on Supersedeas Bond (Doc. 119),

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Meritage posted a supersedeas bond in the amount of $16,050,604.03 (the

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“Meritage Bond”).

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2.

The parties subsequently stipulated to an amended supersedeas bond in the amount

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of $16,930,476.96 (the “Amended Meritage Bond”) (Doc. 135), which replaced

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the Meritage Bond. The Court approved the Amended Meritage Bond (Doc. 136),

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which was posted (Doc. 137).

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3.

Pursuant to the parties’ Stipulation and Order Partially Exonerating Surety and
Discharging Bond Obligation (Doc. 148), the Court discharged $16,445,278.69 of

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13131689.1

Case 2:11-cv-01364-JAD-CWH Document 150 Filed 08/15/17 Page 2 of 4

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the Amended Meritage Bond, leaving $485,198.27 as the remaining bonded

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amount.

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4.

The parties now stipulate that the remaining bonded amount, $485,198.27, of the

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Amended Meritage Bond may be discharged and that Arch Insurance Company

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shall be exonerated from any and all liability thereunder.

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5.

signatures of counsel below.

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Accordingly, the parties stipulate that the Court issue the order that follows the

DATED this 15th day of August, 2017.

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FENNEMORE CRAIG, P.C.

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By: /s/ Douglas C. Northup
Douglas C. Northup

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Attorney for Defendants Meritage Homes
Corporation and Meritage Homes of Nevada, Inc.

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QUINN EMANUEL URQUHART &
SULLIVAN, LLP

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By /s/ Bruce E. Van Dalsem (w/permission)
Bruce E. Van Dalsem
Michael T. Lifrak

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Attorneys for Plaintiff Insolvency Services Group,
Inc.

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ORDER

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Based on the parties’ stipulation [# 150] and good cause appearing, IT IS HEREBY ORDERED
that the remaining $485,198.27 of the supersedeas bond filed on April 22, 2014, and issued by
Arch Insurance Company [# 137] (the “Amended Meritage Bond”) is hereby DISCHARGED.
Arch Insurance Company is exonerated from liability on the Amended Meritage Bond.

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_________________________________
______________
_ ____
____ _ _ _
U.S. District Judge Jennifer D
Judge Jennifer Dorsey
udg
if
ifer
August 16, 2017

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