HSBC Bank USA, National Association v. Velez Family Trust et al

Filing 45

ORDER Granting 44 Motion to Stay Case Pending Settlement. Signed by Judge Jennifer A. Dorsey on 5/1/2018. (Copies have been distributed pursuant to the NEF - SLD)

Case 2:17-cv-00819-JAD-VCF Document 44 Filed 05/01/18 Page 1 of 3

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Jeffrey Willis, Esq.
Nevada Bar No. 4797
Nathan G. Kanute, Esq.
Nevada Bar No. 12413
SNELL & WILMER L.L.P.
50 West Liberty Street, Suite 510
Reno, Nevada 89501
Telephone: [phone]
Facsimile: 775-785-5441
Email: [e-mail]
[e-mail]
Attorneys for Plaintiff

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UNITED STATES DISTRICT COURT

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DISTRICT OF NEVADA

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Snell & Wilmer

L.L.P.
LAW OFFICES
50 West Liberty Street, Suite 510
Reno, Nevada 89501
775-785-5440

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HSBC BANK USA, NATIONAL
ASSOCIATION AS TRUSTEE FOR ACE
SECURITIES CORP. HOME EQUITY LOAN
TRUST, SERIES 2005-HE7, ASSET
BACKED PASS-THROUGH
CERTIFICATES;

Case No. 2:17-cv-00819-JAD-VCF
PLAINTIFF’S MOTION TO STAY
PROCEEDINGS PENDING
SETTLEMENT

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Plaintiff,

AND

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vs.

ORDER

VELEZ FAMILY TRUST; MARTIN
CENTENO, an individual; RED ROCK
FINANCIAL SERVICES, LLC, a Nevada
limited-liability company; FIRST LIGHT AT
OLD VEGAS RANCH HOMEOWNERS
ASSOCIATION, a Nevada non-profit
corporation;

(FIRST REQUEST)

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ECF No. 44

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Defendants.
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AND ALL RELATED MATTERS.
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HSBC Bank USA, National Association as Trustee for Ace Securities Corp. Home Equity

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Loan Trust, Series 2005-HE7, Asset Backed Pass-Through Certificates (“HSBC” or “Plaintiff”),

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by its counsel, hereby requests that the Court stay these proceedings in their entirety pending

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settlement. In support of this request for a stay of these proceedings, Plaintiff states as follows:

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On March 2, 2018 at 1:00 p.m., the Court held a status hearing on this matter (the “Status

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Hearing”). At the Status Hearing, the Court ordered the parties to file a scheduling order on or
4817-2918-3587

Case 2:17-cv-00819-JAD-VCF Document 44 Filed 05/01/18 Page 2 of 3

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before May 1, 2018. The undersigned has conferred with Mr. Ricardo Fojas, trustee of the Velez

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Family Trust (the “Trust”), regarding a potential resolution of this case. Mr. Fojas has indicated to

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the undersigned that he has communicated with Mr. Martin Centeno regarding resolution. Mr.

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Fojas has confirmed by phone and email that the Trust and Mr. Centeno have agreed to the

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essential terms of a settlement proposed by HSBC. The undersigned is in the process of drafting a

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settlement agreement to finalize the settlement and resolve this matter in its entirety. When

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settlement is finalized, the parties will file a stipulated dismissal. Given that the parties have

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effectively settled this matter in its entirety, a stay of further proceedings would be appropriate. If

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settlement terms are not finalized within 90 days of this Motion, Plaintiff will submit a status

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Snell & Wilmer

L.L.P.
LAW OFFICES
50 West Liberty Street, Suite 510
Reno, Nevada 89501
775-785-5440

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report to the Court providing an update on the status of settlement.
WHEREFORE, Plaintiff respectfully requests that this matter be stayed in its entirety with
a status report to be filed within 90 days of this Motion if the case has not been dismissed.
DATED this 1st day of May, 2018.

SNELL & WILMER L.L.P.

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By: _/s/ Nathan G. Kanute________
Jeffrey Willis, Esq.
Nathan G. Kanute, Esq.
50 West Liberty Street, Suite 510
Reno, Nevada 89501
Attorneys for Plaintiff HSBC

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ORDER
IT IS SO ORDERED

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UNITED STATES DISTRICT COURT JUDGE
5-1-18
Dated:

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4817-2918-3587

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