Summit Real Estate Group, Inc. v. Federal Home Loan Mortgage Coropration et al

Filing 51

ORDER Granting 50 Stipulation re Stay. Signed by Judge Kent J. Dawson on 5/1/17. (Copies have been distributed pursuant to the NEF - MR)

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1 2 3 4 5 6 7 KEVIN HAHN, #9821 NATHAN F. SMITH, #12642 MALCOLM ♦ CISNEROS, A Law Corporation 608 South 8th Street Las Vegas, Nevada 89101 Phone: (800) 741-8806 Fax: (949) 252-1032 Email: Attorneys for Federal Home Loan Mortgage Corporation; M&T Bank 8 UNITED STATES DISTRICT COURT 9 DISTRICT OF NEVADA 10 Case No. 2:15-cv-00760-KJD-GWF SUMMIT REAL ESTATE GROUP, INC. Plaintiff, 11 12 vs. 13 FEDERAL HOME LOAN MORTGAGE CORPORATION; FHLMC BANK, MITCHELL LABORWIT, 14 Defendants. 15 16 17 STIPULATION TO CONTINUE STAY 18 On March 28, 2017, the Court approved the parties’ stipulation to continue the stay of this case 19 for a further 30 days pending the filing of a petition for writ of certiorari with the United States Supreme 20 Court concerning the Ninth Circuit’s decision Bourne Valley Court Trust v. Wells Fargo Bank, NA, 832 21 F.3d 1154 (9th Cir. 2016). On April 3, 2017, a petition for a writ of certiorari was filed as United States 22 Supreme Court case number 16-1208. The Supreme Court has not yet ruled on the petition. 23 The parties also note that the Nevada Supreme Court has stayed the issuance of remittitur in 24 Saticoy Bay LLC Series 350 Durango 104 v. Wells Fargo Home Mortg., a Div. of Wells Fargo Bank, 25 N.A., 133 Nev. Adv. Op. 5 (2017) to June 21, 2017, pending the prospective filing of Wells Fargo Home 26 Mortgage’s petition for a writ of certiorari with the United States Supreme Court. Based upon the 27 foregoing, the parties anticipate that the United States Supreme Court may grant certiorari and hear the 28 cases jointly. Stipulation and Order 1 1 A district court has the inherent power to stay cases to control its docket and promote the 2 efficient use of judicial resources. Landis v. N. Am. Co., 299 U.S. 248, 254–55 (1936); Dependable 3 Highway Exp., Inc. v. Navigators Ins. Co., 498 F.3d 1059, 1066 (9th Cir. 2007). When determining 4 whether to stay a case pending the resolution of another case, a district court must consider (1) the 5 possible damage that may result from a stay, (2) any “hardship or inequity” that a party may suffer if 6 required to go forward, (3) “and the orderly course of justice measured in terms of the simplifying or 7 complicating of issues, proof, and questions of law” that a stay will engender. Lockyer v. Mirant Corp., 8 398 F.3d 1098, 1110 (9th Cir. 2005). 9 In this case, the parties submit that no damage will result from a continuance of the stay of this 10 case for a further 90 days, pending the Supreme Court’s ruling on the petition for a writ of certiorari in 11 the Bourne Valley case and the prospective filing of a petition for writ of certiorari with the Supreme 12 Court in the Saticoy Bay case. However, should the Supreme Court deny the petition for a writ of 13 certiorari in the Bourne Valley case, the parties will promptly stipulate to end the stay in this case and 14 proceed with filing any dispositive motions within 30 days of the Court’s order terminating the stay of 15 this case. Moreover, if the Court is not inclined to continue the stay of this case, the parties will 16 promptly file a stipulation ending such stay upon denial of the instant stipulation. 17 Dated: April 27, 2017 Dated: April 27, 2017 /s/ Nathan F. Smith Nathan F. Smith, #12642 Malcolm ♦ Cisneros, A Law Corporation 608 South 8th Street Las Vegas, Nevada 89101 Phone: (800) 741-8806 /s/ Zachary T. Ball Zachary T. Ball, #8364 The Ball Law Group 3455 Cliff Shadows Parkway, Suite 150 Las Vegas, Nevada 89129 Phone: (702) 303-8600 Attorney for Federal Home Loan Mortgage Corporation and M&T Bank Attorney for Plaintiffs 18 19 20 21 22 23 24 25 26 IT IS SO ORDERED. DATED this ___ day of May, 2017 1st 27 28 UNITED STATES DISTRICT COURT JUDGE Stipulation and Order 2

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