Federal Housing Finance Agency v. LN Management, LLC

Filing 26

ORDER Granting 24 Stipulation to Vacate 10/11/2017 status hearing and to Dismiss Case without Prejudice. Signed by Judge Andrew P. Gordon on 10/4/17. (Copies have been distributed pursuant to the NEF - MR)

Case 2:17-cv-00910-APG-VCF Document 24 Filed 10/04/17 Page 1 of 3

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Leslie Bryan Hart, Esq. (SBN 4932)
John D. Tennert III, Esq. (SBN 11728)
FENNEMORE CRAIG, P.C.
300 E. Second St., Suite 1510
Reno, NV 89501
Tel: [phone]
[e-mail]; [e-mail]
Counsel for Petitioner Federal Housing
Finance Agency

(Admitted Pro Hac Vice)
Michael A.F. Johnson, Esq.
ARNOLD & PORTER KAYE SCHOLER LLP
601 Massachusetts Avenue NW
Washington, DC 20001
Tel: [phone] Fax: [phone]
[e-mail]
Counsel for Petitioner Federal Housing Finance
Agency

UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA

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FEDERAL HOUSING FINANCE AGENCY,
in its capacity as Conservator for the Federal
National Mortgage Association and Federal
Home Loan Mortgage Corporation,

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Petitioner,

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CASE NO.: 2:17-cv-00910-APG-VCF
STIPULATION AND [PROPOSED]
ORDER TO VACATE OCTOBER 11, 2017
STATUS HEARING AND TO DISMISS
CASE WITHOUT PREJUDICE

vs.
LN MANAGEMENT, LLC,

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Respondent.

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On November 21, 2016, the Federal Housing Finance Agency (“FHFA”) issued a

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statutory subpoena under 12 U.S.C. § 4617(b)(2)(I), which was served on LN Management, LLC
(“LN Management”) on November 22, 2016, seeking information about properties LN
Management acquired that have been the subject of HOA foreclosure sales (“the Subpoena”).
When LN Management failed to respond, FHFA filed this case on March 31, 2017, seeking to
enforce the Subpoena (ECF No. 1). On June 20, 2017, FHFA filed its Motion for an Order
Requiring Respondent to Comply with Subpoena (the “Motion”) (ECF No. 16).
Management’s response to the Motion was due on July 5, 2017.

On July 5, 2017, LN

Management filed a Motion to Extend Time to Respond to Federal Housing Finance Agency’s
Motion for an Order Requiring Respondent to Comply with the Subpoena (ECF No. 18). On
July 11, 2017, FHFA and LN Management submitted a stipulation pursuant to which LN
Management agreed to produce all documents responsive to the Subpoena no later than July 19,
2017, FHFA agreed that LN would have an open extension of time within which to respond to
the Motion to Compel, and further provided that FHFA would have 21 days of FHFA’s receipt

FENNEMORE CRAIG, P.C.
300 E. SECOND ST.
SUITE 1510
RENO, NEVADA 89501
[phone]

LN

13290281

Case 2:17-cv-00910-APG-VCF Document 24 Filed 10/04/17 Page 2 of 3

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of all documents responsive to the Subpoena to either deem LN Management’s response

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adequate and withdraw its Motion to Compel, or alternatively, advise LN Management that, in

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FHFA’s view, the response was inadequate, in which case FHFA will proceed with the Motion

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to Compel and set a date by which LN Management is required to respond to the Motion to

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Compel. (ECF No. 19).

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IT IS HEREBY AGREED AND STIPULATED BY AND BETWEEN FHFA and LN
MANAGEMENT AS FOLLOWS:

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FHFA and LN Management stipulate and agree that LN Management has

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produced documents responsive to the Subpoena, and based on presently available information,

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FHFA has deemed LN Management’s response adequate. FHFA has notified the Court that it

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has withdrawn its Motion to Compel (ECF No. 23) and that it intends to dismiss without

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prejudice its Petition. (ECF No. 22).

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[SIGNATURE PAGE FOLLOWS]

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FENNEMORE CRAIG, P.C.
300 E. SECOND ST.
SUITE 1510
RENO, NEVADA 89501
[phone]

13290281

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Case 2:17-cv-00910-APG-VCF Document 24 Filed 10/04/17 Page 3 of 3

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2.

FHFA and LN Management hereby jointly propose that this case be dismissed

without prejudice and that the hearing currently scheduled for October 11, 2017, be vacated.

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DATED: October 4, 2017.

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FENNEMORE CRAIG, P.C.

LAW OFFICE OF KERRY P. FAUGHNAN

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By:

By:

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/s/ Leslie Bryan Hart
Leslie Bryan Hart, Esq. (SBN 4932)
John D. Tennert, Esq. (SBN 11728)
300 E. Second St., Suite 1510
Reno, Nevada 89501
Tel: [phone] Fax: [phone]
[e-mail]; [e-mail]
and

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/s/ Kerry P. Faughnan
Kerry P. Faughnan, Esq. (SBN 12204)
P.O. Box 335361
North Las Vegas, NV 89033
Tel: [phone] Fax: [phone]
[e-mail]

Attorney for Respondent LN Management LLC
ARNOLD & PORTER KAYE
SCHOLER LLP
(Admitted Pro Hac Vice)
Michael A.F. Johnson, Esq.

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Attorneys for Petitioner Federal Housing
Finance Agency

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ORDER
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IT IS HEREBY ORDERED that the status conference scheduled for October 11, 2017 is
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hereby vacated.
IT IS FURTHER ORDERED this case be dismissed without prejudice.

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IT IS SO ORDERED.
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___________________________________
UNITED STATES DISTRICT JUDGE

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Dated: October 4, 2017.
DATED: ________________________

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FENNEMORE CRAIG, P.C.
300 E. SECOND ST.
SUITE 1510
RENO, NEVADA 89501
[phone]

13290281

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