U.S. Bank NA v. Eagle Investors et al

Filing 41

ORDER Granting 39 Stipulation to Temporarily Stay Litigation (Third Request). Signed by Judge James C. Mahan on 6/28/2018. (Copies have been distributed pursuant to the NEF - MR)

1 Abran E. Vigil
Nevada Bar No. 7548
2 Justin A. Shiroff
Nevada Bar No. 12869
3 BALLARD SPAHR LLP
1980 Festival Plaza Drive, Suite 900
4 Las Vegas, Nevada 89135-2958
Telephone: [phone]
5 Facsimile: [phone]
[e-mail]
6 [e-mail]
7 Attorneys for Plaintiff U.S. Bank

NA, successor trustee to Bank of

8 America, NA, successor in interest

to LaSalle Bank, NA, as trustee, on

9 behalf of the holders of the

Washington Mutual Mortgage

10 Pass-Through Certificates,

WMALT Series 2007-OA5

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[phone] FAX [phone]

LAS VEGAS, NEVADA 89135-2958

BALLARD SPAHR LLP

1980 FESTIVAL PLAZA DRIVE, SUITE 900

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UNITED STATES DISTRICT COURT

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DISTRICT OF NEVADA

14 U.S. BANK NA, SUCCESSOR TRUSTEE
TO BANK OF AMERICA, NA,
15 SUCCESSOR IN INTEREST TO
LASALLE BANK, NA, AS TRUSTEE, ON
16 BEHALF OF THE HOLDERS OF THE
WASHINGTON MUTUAL MORTGAGE
17 PASS-THROUGH CERTIFICATES,
WMALT SERIES 2007-OA5,
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Plaintiff,
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vs.
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EAGLE INVESTORS, a Nevada
21 corporation; SHADOW SPRINGS
COMMUNITY ASSOCIATION, a Nevada
22 non-profit corporation,
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Defendants.

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DMWEST #17854186 v1

Case No. 2:16-cv-02785-JCM-NJK

THIRD JOINT MOTION AND
STIPULATION TO TEMPORARILY
STAY LITIGATION

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SHADOW SPRINGS COMMUNITY
2 ASSOCIATION,
Third-Party Plaintiff,

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4 v.

5 RED ROCK FINANCIAL SERVICES,
LLC,
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Third-Party Defendant.
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8 EAGLE INVESTORS,
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Counterclaimant,

[phone] FAX [phone]

LAS VEGAS, NEVADA 89135-2958

BALLARD SPAHR LLP

1980 FESTIVAL PLAZA DRIVE, SUITE 900

10 v.
11 U.S. BANK NA, SUCCESSOR TRUSTEE
TO BANK OF AMERICA, NA,
12 SUCCESSOR IN INTEREST TO
LASALLE BANK, NA, AS TRUSTEE, ON
13 BEHALF OF THE HOLDERS OF THE
WASHINGTON MUTUAL MORTGAGE
14 PASS-THROUGH CERTIFICATES,
WMALT SERIES 2007-OA5,
15
Counter-defendant.
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17
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Plaintiff U.S. Bank NA, Successor Trustee to Bank of America, NA, Successor

19 in Interest to LaSalle Bank, NA, as Trustee, on behalf of the Holders of the
20 Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-OA5
21 (the “Trust”), Defendant Eagle Investors, Defendant Shadow Springs Community
22 Association (the “HOA”), and Third-party Defendant Red Rock Financial Services,
23 LLC (“Red Rock”) (collectively the “Parties”), by and through their respective
24 counsel, hereby move and stipulate to temporarily stay litigation in this case for an
25 additional two (2) months. In support of this motion and stipulation, the Parties
26 state as follows:
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DMWEST #17854186 v1

1.

1

This is a quiet title action arising from a homeowners’ association

2 foreclose sale (the “Sale”) of residential property located at 3225 Edinboro Ridge
3 Avenue, North Las Vegas, Nevada, APN 124-25-510-036 (the “Property”).
2.

4

The Parties have been actively engaged in settlement negotiations in

5 an attempt to entirely resolve this case without further litigation.
3.

6

The Parties have conveyed several settlement offers and counter-offers

7 and are consulting with their clients regarding settlement.
4.

8

A temporary stay was previously entered by this Court on November

9 28, 2017 (the “First Stay”), but the First Stay automatically lifted per the terms of
10 the Court’s order on February 28, 2018.
5.

Although the Parties made progress towards settlement, the First Stay

12 was not enough time to allow the Parties to reach a final agreement.
[phone] FAX [phone]

LAS VEGAS, NEVADA 89135-2958

BALLARD SPAHR LLP

1980 FESTIVAL PLAZA DRIVE, SUITE 900

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6.

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In order to continue settlement discussions, the Parties requested a

14 second stay from the Court, which was granted on April 6, 2018 (the “Second Stay”).
15 The Second Stay automatically lifted per the terms of the Court’s order on June 6,
16 2018.
17

7.

The Parties have exchanged settlement offers and there is currently a

18 settlement offer outstanding. The Second Stay, however, was not enough time to
19 allow the Parties to reach a final agreement.
20

8.

In an effort to preserve the resources of the Parties and the Court,

21 before the Parties proceed with additional discovery and dispositive motions, the
22 Parties would like to continue settlement negotiations.
23

9.

The Parties request an additional stay of litigation to conclude

24 negotiations and attempt to resolve this case.
25

10.

Therefore, pursuant to the inherent authority of this Court, the Parties

26 hereby stipulate and agree as follows:
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DMWEST #17854186 v1

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a.

All proceedings in the instant case, including motion and other

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litigation and discovery deadlines, are stayed for two (2) months from the

3

date of an order granting this joint motion;

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b.

After the expiration of the foregoing period described in (8)(a),

the stay shall be automatically lifted;
c.

Prior to the automatic expiration of the foregoing period

described in (5)(a), any party may unilaterally move to lift the stay;
d.

Upon lifting of the stay, the Parties shall have two (2) months to

finish discovery. All discovery previously issued must be re-served.

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Dated this 27th day of June, 2018.

Dated this 27th day of June, 2018.

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[phone] FAX [phone]

LAS VEGAS, NEVADA 89135-2958

BALLARD SPAHR LLP

1980 FESTIVAL PLAZA DRIVE, SUITE 900

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BALLARD SPAHR LLP

AYON LAW, PLLC

By:/s/ Justin A. Shiroff
Abran E. Vigil
Nevada Bar No. 7548
Justin A. Shiroff
Nevada Bar No. 12869
1980 Festival Plaza Drive, Suite 900
Las Vegas, Nevada 89135-2958

By:/s/ Luis A. Ayon____
Luis A. Ayon, Esq.
8716 Spanish Ridge Avenue,
Suite 115
Las Vegas, Nevada 89148

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Attorneys
Investors

Attorneys for Plaintiff and CounterDefendant the Trust

for

Defendant

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[Remainder of Page Intentionally Left Blank]

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DMWEST #17854186 v1

Eagle

1

Dated this 27th day of June, 2018.

Dated this 27th day of June, 2018.

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KOCH & SCOW LLC

PENGILLY LAW FIRM

By:/s/ David R. Koch
David R. Koch, Esq.
Steven B. Scow, Esq.
Brody R. Wight, Esq.
11500 South Eastern Avenue, Suite 210
Henderson, Nevada 89052

By:/s/ James W. Pengilly____
James W. Pengilly, Esq.
Elizabeth B. Lowell, Esq.
1995 Village Center Cir., Suite 190
Las Vegas, Nevada 89134

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Attorneys for Shadow Springs
Community Association

Attorneys for Defendant/CrossDefendant/Counterclaimant Red Rock
Financial Services

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IT IS SO ORDERED.
_______________________________________
UNITED STATES DISTRICT JUDGE

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[phone] FAX [phone]

LAS VEGAS, NEVADA 89135-2958

BALLARD SPAHR LLP

1980 FESTIVAL PLAZA DRIVE, SUITE 900

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June 28, 2018
DATED: ___________________

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DMWEST #17854186 v1