U.S. Bank National Association v. SFR Investments Pool 1, LLC et al

Filing 36

ORDER Granting 35 Stipulation to Stay Case. Signed by Magistrate Judge George Foley, Jr on 12/11/2017. (Copies have been distributed pursuant to the NEF - SLD)

Download PDF
Case 2:17-cv-00079-JAD-GWF Document 35 Filed 12/08/17 Page 1 of 4 1 2 3 4 5 6 WRIGHT, FINLAY & ZAK, LLP Dana Jonathon Nitz, Esq. Nevada Bar No. 0050 Lindsay D. Robbins, Esq. Nevada Bar No. 13474 7785 W. Sahara Ave., Suite 200 Las Vegas, NV 89117 (702) 475-7964; Fax: (702) 946-1345 dnitz@wrightlegal.net lrobbins@wrightlegal.net Attorneys for Plaintiff/Counter-Defendant, U.S. Bank National Association, as Trustee for GSAA Home Equity Trust 2006-20, Asset-Backed Certificates, Series 2006-20 7 8 UNITED STATES DISTRICT COURT 9 DISTRICT OF NEVADA 10 11 12 U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR GSAA HOME EQUITY TRUST 2006-20, ASSET-BACKED CERTIFICATES, SERIES 2006-20, Plaintiff, 13 14 15 16 vs. SFR INVESTMENTS POOL 1, LLC; and TRAIL RIDGE COMMUNITY ASSOCIATION, Defendants. 17 18 19 SFR INVESTMENTS POOL 1, LLC, a Nevada limited liability company, Counter/Cross Claimant, 20 21 22 23 24 25 26 vs. U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR GSAA HOME EQUITY TRUST 2006-20, ASSET-BACKED CERTIFICATES, SERIES 2006-20; MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., AS NOMINEE FOR HOME123 CORPORATION; DANIEL PALACIOS, an individual, 27 28 Counter/Cross-Defendants. ______________________________________ Case No.: 2:17-cv-00079-JAD-GWF STIPULATION AND ORDER TO STAY Case 2:17-cv-00079-JAD-GWF Document 35 Filed 12/08/17 Page 2 of 4 1 STIPULATION AND ORDER TO STAY 2 Plaintiff/Counter-Defendant, U.S. Bank National Association, as Trustee for GSAA 3 Home Equity Trust 2006-20, Asset-Backed Certificates, Series 2006-20 (“U.S. Bank”), 4 Defendant/Counterclaimant, SFR Investments Pool 1, LLC (“SFR”), and Defendant, Trail 5 Ridge Community Association (“Trail Ridge”), by and through their respective counsels of 6 record, hereby stipulate as follows in accordance with LR6-1 and LR 26-4. 7 8 WHEREAS the above-captioned matter concerns declaratory relief claims regarding real property located at 8400 Lower Trailhead Avenue, Las Vegas, Nevada 89113 (the “Property”). 9 WHEREAS Defendant, SFR Investments Pool 1, LLC (“SFR”), claims it acquired title 10 to the Property following an Association foreclosure sale under NRS Chapter 116, and further 11 claims said foreclosure eliminated that Deed of Trust recorded with the Clark County 12 Recorder’s Office on September 27, 2006, as Book and Instrument Number 20060927-0005019. 13 WHEREAS Defendant, Trail Ridge Community Association, initiated non-judicial 14 foreclosure proceedings before the Nevada Supreme Court decision in SFR Investments Pool 1 15 v. U.S. Bank, N.A., 334 P.3d 408 (Nev. 2014). 16 WHEREAS on August 12, 2016, the Ninth Circuit issued its decision in Bourne Valley 17 Court Tr. v. Wells Fargo Bank, N.A., 832 F.3d 1154, 1159-60 (9th Cir. 2016) holding that NRS 18 Chapter 116 is facially unconstitutional. 19 20 WHEREAS, the parties dispute whether the outcome of the Certified Question will have any affect on the application and binding nature of the Bourne Valley decision upon this Court. 21 WHEREAS on April 21, 2017, the U.S. District Court for the District of Nevada issued 22 an Order in The Bank of New York Mellon fka The Bank of New York, as Trustee for the 23 Certificateholders CWABS, Inc. Asset-Backed Certificates, Series 2006-6 v. Star Hill 24 Homeowners Association et al., Case No. 2:16-cv-025610-RFB-PAL, certifying to the Nevada 25 Supreme Court the question: “Whether NRS § 116.31168(1)’s incorporation of NRS § 107.090 26 required a homeowner’s association to provide notices of default and/or sale to persons or 27 entities holding a subordinate interest even when such persons or entities did not request notice, 28 prior to the amendments that took effect on Oct. 1, 2015?” ECF No. 41, 7:1-4. The Nevada Case 2:17-cv-00079-JAD-GWF Document 35 Filed 12/08/17 Page 3 of 4 1 Supreme Court issued an Order Accepting Certified Question on June 13, 2017. It has not yet 2 been scheduled for oral argument. 3 NOW WHEREFORE, based on the foregoing, 4 IT IS HEREBY STIPULATED AND AGREED that staying this case pending decision 5 from the Nevada Supreme on the Certified Question will enable the parties to present arguments 6 and evidence to this Court at an appropriate time with complete legal authority, thereby 7 promoting the most efficient use of the Court’s and the parties’ limited resources. Staying the 8 case pending the decision from the Nevada Supreme Court on the Certified Question will also 9 enable the parties to continue ongoing settlement discussions. 10 IT IS FURTHER STIPLATED AND AGREED that either party may file a written 11 motion to lift stay at any time either party determines it appropriate, and either party may file an 12 opposition to the motion. 13 /././ 14 /././ 15 /././ 16 /././ 17 /././ 18 /././ 19 /././ 20 /././ 21 /././ 22 /././ 23 /././ 24 /././ 25 /././ 26 /././ 27 /././ 28 /././ Case 2:17-cv-00079-JAD-GWF Document 35 Filed 12/08/17 Page 4 of 4 1 IT IS FURTHER STIPULATED AND AGREED that all proceedings in this lawsuit are 2 stayed, and all upcoming deadlines, hearings and conferences, including the deadline to file 3 dispositive motions and the pre-trial order, shall be vacated pending the stay. 4 DATED this 6th day of December, 2017. DATED this 6th day of December, 2017. 5 WRIGHT, FINLAY & ZAK, LLP KIM GILBERT EBRON 8 /s/ Lindsay D. Robbins, Esq. Lindsay D. Robbins, Esq. NV Bar No. 13474 Attorneys for Plaintiff /s/ Karen L. Hanks, Esq. Karen L. Hanks, Esq. NV Bar No. 9578 Attorneys for SFR Investment Pool 1, LLC 9 DATED this 6th day of December, 2017. 6 7 10 BOYACK ORME & ANTHONY 11 12 13 14 /s/ Christopher B. Anthony, Esq. Christopher B. Anthony, Esq. NV Bar No. 9748 Attorneys for Trail Ridge Community Association ORDER 15 16 IT IS SO ORDERED. 17 DATED this 11th day of December , 2017. 18 19 UNITED STATES MAGISTRATE JUDGE 20 21 Respectfully Submitted by: 22 WRIGHT, FINLAY & ZAK, LLP 23 24 25 26 27 28 /s/ Lindsay D. Robbins, Esq. Lindsay D. Robbins, Esq. Nevada Bar No. 13474 Attorneys for Plaintiff

Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia.


Why Is My Information Online?