Bank of New York Mellon v. SFR Investment Pool 1, LLC

Filing 21

ORDER denying without prejudice 14 Motion to Dismiss.; denying without prejudice 20 Stipulation. Case stayed pending appeals in Ninth Circuit. Status Report due by 4/18/2017. Signed by Chief Judge Gloria M. Navarro on 10/17/16. (Copies have been distributed pursuant to the NEF - JM)

Case 2:16-cv-00050-GMN-GWF Document 20 Filed 10/10/16 Page 1 of 3

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WRIGHT, FINLAY & ZAK, LLP
Dana Jonathon Nitz, Esq.
Nevada Bar No. 0050
Chelsea A. Crowton, Esq.
Nevada Bar No. 11547
7785 W. Sahara Ave., Suite 200
Las Vegas, Nevada 89117
[phone]; Fax: [phone]
[e-mail]
[e-mail]
Attorneys for Plaintiff, The Bank of New York Mellon FKA The Bank of New York, as Trustee for
the Certificateholders of CWALT, Inc., Alternative Loan Trust 2006-OA3, Mortgage PassThrough Certificates, Series 2006-OA3

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UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA

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THE BANK OF NEW YORK MELLON FKA
THE BANK OF NEW YORK, AS TRUSTEE
FOR THE CERTIFICATEHOLDERS OF
CWALT, INC., ALTERNATIVE LOAN
TRUST 2006-OA3, MORTGAGE PASSTHROUGH CERTIFICATES, SERIES 2006OA3, a Delaware Corporation,

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Case No.: 2:16-cv-00050-GMN-GWF

STIPULATION AND ORDER TO STAY
LITIGATION PENDING A DECISION ON
BOURNE VALLEY

Plaintiff,
vs.

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SFR INVESTMENTS POOL 1, LLC, a Nevada
Limited Liability Company,
Defendants.

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Plaintiff, The Bank of New York Mellon FKA The Bank of New York, as Trustee for the

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Certificateholders of CWALT, Inc., Alternative Loan Trust 2006-OA3, Mortgage Pass-Through

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Certificates, Series 2006-OA3 (hereinafter “BONY”), and Defendant, SFR Investments Pool 1,

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LLC (hereinafter “SFR”), by and through their respective counsels of record, hereby stipulate

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and agree as follows:

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1. This lawsuit involves the parties seeking quiet title/declaratory relief and other claims
related to a non-judicial homeowner’s foreclosure sale conducted on a Property

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Case 2:16-cv-00050-GMN-GWF Document 20 Filed 10/10/16 Page 2 of 3

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pursuant to NRS Chapter 116.

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2. On August 12, 2016, the Ninth Circuit issued a decision in Bourne Valley Court Trust

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v. Wells Fargo Bank, 2016 WL 4254983 (9th Cir. Aug. 12, 2016) holding that NRS

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Chapter 116 is facially unconstitutional. A petition for rehearing was filed by the

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petitioner in Bourne Valley on August 26, 2016.

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3. The parties agree to stay all discovery and pre-trial deadlines set forth below pending
a resolution of Bourne Valley.

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Case 2:16-cv-00050-GMN-GWF Document 20 Filed 10/10/16 Page 3 of 3

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4. The current discovery deadlines are as followed:

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a. Deadline to Complete Discovery: 12-26-2016

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b. Deadline to Disclose Experts: 10-27-2016

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c. Deadline to Disclose Rebuttal Experts: 11-28-2016

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d. Deadline to File Dispositive Motions: 1-25-2017

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e. Deadline to Submit Pre-Trial Order: 2-24-2017

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5. The parties will submit a new Proposed Discovery Plan and Scheduling Order within

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thirty (30) days after a resolution of Bourne Valley is entered by the Ninth Circuit.

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DATED this 28th day of September, 2016.

DATED this 6th day of October, 2016.

WRIGHT, FINLAY & ZAK, LLP
______/s/Chelsea A. Crowton, Esq.________
Chelsea A. Crowton, Esq.
Nevada Bar No. 11547
7785 W. Sahara Ave. Ste. 200
Las Vegas, NV 89117
Attorneys for Plaintiff, The Bank of New York
Mellon FKA The Bank of New York, as Trustee
for the Certificateholders of CWALT, Inc.,
Alternative Loan Trust 2006-OA3, Mortgage
Pass-Through Certificates, Series 2006-OA3

KIM GILBERT EBRON
______/s/ Diana Cline Ebron, Esq._______
Diana Cline Ebron, Esq.
Nevada Bar No. 10580
7625 Dean Martin Drive, Suite 110
Las Vegas, NV 89139
Attorney for Defendant, SFR Investments
Pool 1, LLC

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Page 3 of 3

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ORDER

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IT IS HEREBY ORDERED that this case is administratively STAYED pending

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exhaustion of all appeals of Bourne Valley Court Trust v. Wells Fargo Bank, No. 15-15233 (9th

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Cir. Aug. 12, 2016). Once exhaustion occurs, any party may move to lift the stay. Until that

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time, all proceedings in this action are stayed.
IT IS FURTHER ORDERED that all pending motions are DENIED without prejudice

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with leave to refile within twenty-one days after the stay is lifted.
IT IS FURTHER ORDERED that current occupant, SFR Investments Pool 1, LLC

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(“SFR”), who purchased the Property at the HOA foreclosure sale, shall care for, preserve, and
maintain the Property.
IT IS FURTHER ORDERED that, beginning on April 18, 2017, the parties must file a

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joint status report updating the Court on the status of this case every one-hundred and eighty

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days. Along with the joint status report, SFR shall submit a statement affirming that all

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expenses necessary to maintain the property, including but not limited to, timely and full

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payment of all homeowners association assessments, property taxes, and property insurance

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premiums due and owing or past due at any time during the effective period of this Stay are

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current and up to date.
IT IS FURTHER ORDERED that this Order does not prevent the parties from

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continuing to engage in settlement conference negotiations with the assistance of the Magistrate

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Judge.

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DATED this _____ day of October, 2016.

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___________________________________
Gloria M. Navarro, Chief Judge
United States District Court

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