Takiguchi et al v. MRI International, Inc. et al

Filing 862

ORDER granting ECF No. 861 Stipulation Re Liquidation of Life Insurance Policy and Payment of Funds Pursuant to Final Approval of Class Action Settlement. Signed by Judge Howard D. McKibben on 8/6/2018. (Copies have been distributed pursuant to the NEF - LH)

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JAMES E. GIBBONS (pro hac vice)
Cal. State Bar No. 130631
MANNING & KASS
ELLROD, RAMIREZ, TRESTER LLP
801 South Figueroa Street, 15th Floor
Los Angeles, CA 90017
Tel. [phone]
[e-mail]

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ROBERT W. COHEN (pro hac vice)
Cal. State Bar No. 150310
MARIKO TAENAKA (pro hac vice)
Cal. State Bar No. 273895
LAW OFFICES OF ROBERT W. COHEN, A.P.C.
1901 Avenue of the Stars, Suite 1900
Los Angeles, CA 90067
Tel. [phone]
[e-mail]
[e-mail]
Attorneys for Plaintiffs

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UNITED STATES DISTRICT COURT
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DISTRICT OF NEVADA

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SHIGE TAKIGUCHI, et. al, Individually and
On Behalf of All Others Similarity Situated,

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Plaintiffs,
v.

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MRI INTERNATIONAL, INC., EDWIN J.
FUJINAGA, JUNZO SUZUKI, PAUL
MUSASHI SUZUKI, LVT, INC., dba
STERLING ESCROW, and DOES 1-500,

Case No.: 2:13-cv-01183-HDM-NJK
STIPULATION AND ORDER RE
LIQUIDATION OF LIFE INSURANCE
POLICY AND PAYMENT OF FUNDS
PURSUANT TO FINAL APPROVAL
OF CLASS ACTION SETTLEMENT

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Defendants.
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STIPULATION AND ORDER RE LIQUIDATION OF LIFE INSURANCE POLICIES AND
PAYMENT OF FUNDS PURSUANT TO FINAL APPROVAL OF CLASS ACTION SETTLEMENT

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WHEREAS, plaintiffs Shige Takiguchi, et al. (“Plaintiffs”) and (1) Junzo Suzuki, (2)

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Paul Suzuki, (3) Keiko Suzuki, (4) the Suzuki Enterprises, Inc. Profit Sharing Plan, (5) Catherine

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Suzuki, trustee of the Junzo Suzuki Irrevocable Trust, (6) Catherine Suzuki, trustee of the Keiko

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Suzuki Irrevocable Trust, (7) Catherine Suzuki, trustee of the Junzo Suzuki and Keiko Suzuki

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Irrevocable Trust, (8) Suzuki Enterprises, Inc., (9) Puuikena Investments LLP, (10) Catherine

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Mai Suzuki, trustee of the Catherine Suzuki Irrevocable Trust dated May 10, 2013, and (11) Paul

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Musashi Suzuki, trustee of the Paul Musashi Suzuki Irrevocable Trust dated May 10, 2013

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(collectively, the “Suzuki Defendants”) are collectively referred to herein as the “Parties”;

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WHEREAS, on December 11, 2017 the Suzuki Defendants entered into a Settlement

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Agreement with Plaintiffs by which they agreed to surrender and liquidate certain life insurance

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policies and pay the surrender value to Plaintiffs as consideration for resolution this action;

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WHEREAS, on May 22, 2018 the Court granted final approval of the class action
settlement with the Suzuki Defendants (Dkt. 840);
WHEREAS, pursuant to the Settlement Agreement, the life insurance policy, Pacific

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Guardian Life Policy No. 0007005184 owned by Keiko Suzuki shall be surrendered by the

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Suzuki Defendants and liquidated, with the entire surrender proceeds wire transferred to the

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Court appointed claims administrator, Heffler Claims Group.

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WHEREAS, as of June 22, 2018, this Court’s preliminary injunction order (Dkt. 183)
freezing the assets of the Suzuki Defendants is permanently lifted and vacated;

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NOW, therefore, the Parties stipulate as follows:

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1. Pacific Guardian Life is ordered to process the surrender of Policy No. 0007005184

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owned by Keiko Suzuki, and transfer the entire surrender value to the qualified

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settlement account designated by Heffler Claims Group; and

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2. The Suzuki Defendants are ordered to reasonably cooperate with Plaintiffs and the

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life insurance policy issuers as necessary in effectuating the surrender of the above

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policies.

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STIPULATION AND ORDER RE LIQUIDATION OF LIFE INSURANCE POLICIES AND
PAYMENT OF FUNDS PURSUANT TO FINAL APPROVAL OF CLASS ACTION SETTLEMENT

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Dated: August 3, 2018

MANNING & KASS
ELLROD, RAMIREZ, TRESTER LLP

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By:

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/s/ James Gibbons
JAMES E. GIBBONS
STEVEN J. RENICK
Attorneys for Plaintiffs

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LAW OFFICES OF ROBERT W. COHEN
A Professional Corporation

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By:

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/s/ Robert W. Cohen
ROBERT W. COHEN
MARIKO TAENAKA
Attorneys for Plaintiffs

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PAUL HASTINGS LLP

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By:
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/s/
Nicolas Morgan
NICOLAS MORGAN
Attorneys for Defendant the Suzuki
Defendants

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PURSUANT TO STIPULATION, IT IS SO ORDERED.

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August 6, 2018
DATED: _____________________

______________________________
United States District Judge

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STIPULATION AND ORDER RE LIQUIDATION OF LIFE INSURANCE POLICIES AND
PAYMENT OF FUNDS PURSUANT TO FINAL APPROVAL OF CLASS ACTION SETTLEMENT