Branch Banking And Trust Company v. Rad et al

Filing 67

ORDER granting 66 Motion Charging Judgment Debtor Membership Interest in RPN LLC and Judgment Debtor the Estate of Saiid Forouzan Rad and Akbar Ragstoo Damavandi's Stock in Forouzan, Inc. Signed by Judge Andrew P. Gordon on 5/16/2017. (Copies have been distributed pursuant to the NEF - JM)

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Case 2:14-cv-01947-APG-PAL Document 66-1 Filed 04/28/17 Page 1 of 2 6 J. Stephen Peek, Esq. Nevada Bar No. 1758 Joseph G. Went, Esq. Nevada Bar No. 9220 HOLLAND & HART LLP 9555 Hillwood Drive, 2nd Floor Las Vegas, Nevada 89134 Tel: (702) 669-4600 Fax: (702) 669-4650 jspeek@hollandhart.com; jgwent@hollandhart.com 7 Attorneys for Plaintiff 1 2 3 4 5 8 THE UNITED STATES DISTRICT COURT 9 FOR THE DISTRICT OF NEVADA 10 11 BRANCH BANKING AND TRUST COMPANY, a North Carolina banking corporation, CASE NO: 2:14-cv-01947-APG-PAL 12 Plaintiff, 13 v. 14 15 16 THE ESTATE OF SAIID FOROUZAN RAD AND AKBAR RAGSTOO DAMAVANDI; PHILLIP NOURAFCHAN, an individual; and DOES 1 through 10, inclusive. ORDER CHARGING JUDGMENT DEBTOR PHILLIP NOURAFCHAN’S MEMBERSHIP INTEREST IN RPN LLC AND JUDGMENT DEBTOR THE ESTATE OF SAIID FOROUZAN RAD AND AKBAR RAGSTOO DAMAVANDI’S STOCK IN FOROUZAN, INC. Defendants. 17 18 19 On April 28, 2017, Branch Banking and Trust Company (“BB&T”) filed its motion (the 26, 20 “Motion”) for an order charging the membership interest of Defendant / Judgment Debtor Phillip 21 Nourafchan (“Nourafchan”) in RPN LLC, a Nevada limited liability company (“RPN”), and 22 Defendant / Judgment Debtor The Estate of Saiid Forouzan Rad and Akbar Ragstoo 23 Damavandi’s, Special Administrator (the “Estate”) (together with Nourafchan, the “Judgment 24 Debtors”), stock in Forouzan Inc., a Nevada corporation (“Forouzan”), with payment of the 25 unsatisfied judgment against Nourafchan and the Estate that was entered in this action. This 26 Court, having been fully advised in the premises and good cause appearing, hereby orders as 27 follows. 28 IT IS HEREBY ORDERED: Page 1 of 2 9797494_1 Case 2:14-cv-01947-APG-PAL Document 66-1 Filed 04/28/17 Page 2 of 2 1. 1 A charging order is hereby entered in favor of BB&T and shall be enforced in 2 accordance with NRS 86.401 against the limited liability company interest of Nourafchan in 3 RPN. 4 5 6 7 8 9 10 11 2. A charging order is hereby entered in favor of BB&T and shall be enforced in accordance with NRS 78.746(1) against the stock of the Estate in Forouzan. 3. The charging order shall constitute a lien on the Judgment Debtors’ ownership interests in RPN and Forouzan upon entry of this order. 4. Any distribution on account of Nourafchan’s limited liability company interest in RPN shall be paid over to BB&T or its attorneys until such time as Nourafchan has satisfied all of his payment obligations to BB&T pursuant to the judgment entered herein. See ECF No. 52. 5. Any distribution on account of the Estate’s stock in Forouzan shall be paid over to 12 BB&T or its attorneys until such time as the Estate has satisfied all of his payment obligations to 13 BB&T pursuant to the judgment entered herein. Id. 14 IT IS SO ORDERED: 15 16 COURT UNITED STATES DISTRICT JUDGE JUDGE Dated: May 16, 2017. DATED: ______________________________ 17 18 19 20 21 22 23 24 25 26 27 28 Page 2 of 2 9797494_1

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