Bank Of New York Mellon v. Church et al

Filing 40

ORDER Granting 39 Stipulation to Stay Litigation Pending Final Resolution of the Certified Question to the Nevada Supreme Court. Signed by Judge Richard F. Boulware, II on 10/20/17. (Copies have been distributed pursuant to the NEF - ADR)

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1 2 3 4 5 6 7 8 9 10 DARREN T. BRENNER, ESQ. Nevada Bar No. 8386 NATALIE L. WINSLOW, ESQ. Nevada Bar No. 12125 AKERMANLLP 1160 Town Center Drive, Suite 330 Las Vegas, NV 89144 Telephone: (702) 634-5000 Facsimile: (702) 380-8572 Email: darren.brenner@akerman.com Email: natalie.winslow@akerman.com Attorneys for The Bank of New York Mellon fka The Bank of New York, as Trustee for the Cert(ficateholders CWALT, Inc., Alternative Loan Trust 2006-4CB, Mortgage Pass-Through Certificates, Series 2006-4CB and Mortgage Electronic Registration Systems, Inc., as nominee for BRS Citizens, NA. 11 UNITED STATES DISTRICT COURT DISTRICT OF NEVADA 12 13 14 15 16 THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK, AS TRUSTEE FOR THE CERTIFICATEHOLDERS CWALT, INC., ALTERNATIVE LOAN TRUST 20064CB, MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4CB, Plaintiff, 17 vs. 18 MICHELLE R. CHURCH; SFR INVESTMENTS POOL 1, LLC; HAMPTON & HAMPTON COLLECTIONS LLC; SILVERSTONE RANCH COMMUNITY ASSOCIATION; DOE INDIVIDUALS I-X, inclusive, and ROE CORPORATIONS I-X, inclusive, 19 20 21 22 Defendants. 23 24 25 26 27 28 L1..-wis and Roca LLP JIJ9~ Hnwurd Hughes Parkway Suite 600 Las Vegas, N(..'VU<lu k91/19 -1- Case No.: 2: 17-cv-00238-RFB-NJK STIPULATION AND ORDER TO STAY LITIGATION PENDING FINAL RESOLUTION OF THE CERTIFIED QUESTION TO THE NEVADA SUPREME COURT 1 2 3 4 5 SILVERSTONE RANCH COMMUNITY ASSOCIATION, Cross-Claimant, vs. HAMPTON & HAMPTON COLLECTIONS LLC, a Professional Corporation, Cross-Defendant. 6 7 SFR INVESTMENTS POOL 1, LLC, 8 Counter/Cross-Claimant, 9 10 11 12 13 14 15 16 vs. THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK, AS TRUSTEE FOR THE CERTIFICATEHOLDERS CWALT, INC., ALTERNATIVE LOAN TRUST 20064CB, MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4CB; MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., AS NOMINEE FOR BRS CITIZENS, N.A.; MICHELLE R. CHURCH, an individual, 17 Counter/Cross-Defendants. 18 19 20 Plaintiff, The Bank of New York Mellon tka The Bank of New York, as Trustee for the 21 Certificateholders CWALT, Inc., Alternative Loan Trust 2006-4CB, Mortgage Pass-Through 22 Certificates, Series 2006-4CB and cross-defendant, Mortgage Electronic Registration Systems, 23 Inc., as nominee for BRS Citizens, N .A. (BNYM), and defendants SFR Investments Pool I, LLC, 24 Hampton & Hampton Collections LLC, and Silverstone Ranch Community Association, 25 respectfully submit the following stipulation and proposed order: 26 27 I. This case arises out of a homeowner's association foreclosure, which BNYM contends did not impact its lien position. 28 Lt:wis anti Roen LLP W9J Howard Hughe,; Parkway Sui1c600 Las Vcgns, Nwmlu 891119 -2- 1 2 2. On April 21, 2017 the Judge Boulware certified the following question to the Nevada Supreme Court: 3 4 5 Whether NRS § 116.31168(1)'s incorporation of NRS § 107.090 required a homeowner's association to provide notices of default and/or sale to persons or entities holding a subordinate interest even when such persons or entities did not request notice, prior to the amendments that took effect on Oct 1, 2015? 6 See Bank of NY Mellon, etc. v. Star Hill Homeowners Assoc., et al, Case No. 2:16-cv-02561- 7 RFB-PAL (D. Nev. Apr. 21, 2017). 8 3. The Nevada Supreme Court accepted the certified question on June 13, 2017, 9 setting forth a briefing schedule. See SFR Investments Pool 1, LLC, et al v. Bank of New York 1O Mellon, etc., Case No. 72931 (Nev. 2017). Briefing is in progress. In order to avoid discovery 11 and dispositive 12 4. Judge Boulware has indicated since stayed the above-referenced HOA litigation 13 until that question is resolved. See 2:16-cv-02561 at ECF No. 45. Because the Nevada Supreme 14 Court's answer to the certified question may impact the course of discovery and the claims and 15 issues in this case, the parties similarly request a stay of this litigation. 16 5. "[T]he power to stay proceedings is incidental to the power inherent in every court 17 to control the disposition of the causes of action on its docket with economy of time and effort for 18 itself, for counsel, and for litigants." Landis v. N Am. Co., 299 U.S. 248,254 (1936). "A trial 19 court may, with propriety, find it is efficient for its own docket and the fairest course for the 20 parties to enter a stay of an action before it, pending resolution of independent proceedings which 21 bear upon the case." Leyva v. Certified Grocers of Cal., Ltd., 593 F.2d 857,863 (9th Cir. 1979). 22 23 24 25 26 27 28 U:wis :lnd Roca LLP J99'.i Howard Hughes Parkway Suilc 600 Lus Vegas, Ncvatla K<Jlfl9 -3- 1 6. To determine if a stay is appropriate, the Court considers (1) damage from the stay; 2 (2) hardship or inequity that befalls one party more than the other; and (3) the orderly course of 3 justice. See Dependable Highway Exp., Inc. v. Navigators Ins. Co., 498 F.3d 1059, 1066 (9th Cir. 4 2007) (setting forth factors). The factors support a stay of this case. 5 a. Damage from Stay: Any damage from a temporary stay in this case will be 6 minimal if balanced against the potential fees, costs, and time which would surely ensue in this 7 matter if litigation were allowed to continue that could be rendered moot by the Nevada Supreme 8 Court's answer to the certified question. The parties will be able to avoid the cost and expense of 9 continued legal proceedings in light of what is unsettled law. The Court will also be relieved of 1O expending further time and effort until the certified question is answered. A stay will benefit all 11 parties involved. 12 b. Hardship or Inequity: There will be no significant hardship or inequity that befalls 13 one party more than the other. This relatively equal balance of equities results from the need for 14 all parties to have finality on an important issue. The parties agree that any hardship or inequity 15 falling on any of them is outweighed by the benefits of a stay. 16 c. Orderly Course of Justice: At the center of this case is a homeowners' association's 17 foreclosure sale under NRS 116. Without a stay, the parties will likely expend resources that may 18 be unnecessary once the certified question is answered. A temporary stay would substantially 19 promote the orderly course of justice in this case. 20 7. The parties agree that all proceedings in the instant case, including discovery, 21 motion, and other litigation deadlines, are stayed pending an answer to the certified question from 22 the Nevada Supreme Court. 23 24 8. The parties agree that reasoning set forth in this stipulation is negotiated solely in relation to the applicable to the facts and circumstances of this case. 25 26 27 28 Ll..'Wis ond Roca LLP 3993 Huwurd Hugh~ Pm-kway Suitc600 Ul.'i V t.iµt."i, Nt."VlKW 89 I09 -4- 1 2 3 9. Any party may file a written motion to lift stay at any time if either party determines it appropriate. Dated: September_, 2017. 4 AKERMAN LLP 5 Isl Darren Brenner, Esq. ARIEL E. STERN, ESQ. Nevada Bar No. 8276 NATALIE L. WINSLOW, ESQ. Nevada Bar No. 12125 1160 Town Center Drive, Suite 330 Las Vegas, Nevada 89144 6 7 8 9 10 11 12 13 14 15 16 17 18 19 KIM GILBERT EBRON Isl Diana S. Ebron, Esq. JACQUELINE A. GILBERT, ESQ. Nevada Bar. No. 10593 DIANA S. EBRON, ESQ. Nevada Bar No. 10580 KAREN L. HANKS, ESQ. Nevada Bar No. 9578 7625 Dean Martin Drive, Suite 110 Las Vegas, Nevada 89139 Attorneys for Plaintiff, The Bank of New York Mellon fka, The Bank of New York, as Trustee for the Certi.ficateholders CWALT, Inc., Attorneys for Defendant SFR Investments Pool Alternative Loan Trust 2006-4CB, Mortgage J,LLC Pass-Through Certificates, Series 2006-4CB and cross-defendant, Mortgage Electronic Registration Systems, Inc., as nominee for BRS Citizens, N.A. PENGILLY LAW FIRM NEVADA ASSOCIATION SERVICES, INC. fl}V /')~ ~ /1,1P Isl~ ~ fo,1,~ CHRISTOPHER V. YERGENSEN, ESQ. Nevada Bar. No. 6183 6224 West Desert Inn Road Las Vegas, Nevada 89146 Attorney for Hampton & Hampton Collections LLC Isl Elizabeth B. Lowell JAMES W. PEN GILLY, ESQ. Nevada Bar. No. 6085 ELIZABETH B. LOWELL, ESQ. Nevada Bar No. 8551 7625 Dean Martin Drive, Suite 110 Las Vegas, Nevada 89139 Attorneys for Silverstone Ranch Community Association 20 21 ORDER 22 23 IT IS SO ORDERED. 24 25 UNITED STATES DISTRICT JUDGE 26 27 20th day of October, 2017. -------~---- DATED: 28 L<."Wis and Roca LLP 3993 Howard Hughu,; Purkway Suilc61KI Los Vt.'(!DS. Nt."Vllda K9109 -5-

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