Citibank, N.A. v. Ravenstar Investments, LLC
Filing
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ORDER DISMISSING APPEAL on ECF No. 16 Stipulation Signed by Judge Robert C. Jones on 3/27/2018. (Copies have been distributed pursuant to the NEF - DRM)
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WRIGHT, FINLAY & ZAK, LLP
Edgar C. Smith, Esq.
Nevada Bar No. 005506
Ace C. Van Patten, Esq.
Nevada Bar No. 11731
7785 W. Sahara Ave., Suite 200
Las Vegas, NV 89117
(702) 475-7964; Fax: (702) 946-1345
esmith@wrightlegal.net
avanpatten@wrightlegal.net
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Attorneys for Citibank, N.A., not in its individual capacity but solely as Trustee for NRZ PassThrough Trust VI
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UNITED STATES DISTRICT COURT
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DISTRICT OF NEVADA
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IN RE:
Case No: 3:17-cv-00656-RCJ
RAVENSTAR INVESTMENTS, LLC,
BK−17−50751−btb
Chapter 11
Debtor.
Appeal Reference Number: 17−52
CITIBANK, N.A., NOT IN ITS INDIVIDUAL
CAPACITY, BUT SOLELY AS TRUSTEE
FOR NRZ PASS−THROUGH TRUST VI,
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Appellant,
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STIPULATION REGARDING
DISMISSAL OF APPEAL
v.
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RAVENSTAR INVESTMENTS, LLC,
Appellee.
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Appellant, Citibank, N.A., not in its individual capacity but solely as Trustee for NRZ
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Pass-Through Trust VI (“Citibank”), and the Appellee Debtor, Ravenstar Investments, LLC
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(“Ravenstar” or “Debtor”) by and through their respective counsel, hereby agree to the
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following stipulated order (the “Stipulation”) dismissing the appeal in light of the subsequent
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settlement of the issues underlying the instant appeal.
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Page 1 of 4
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I.
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1.
BRIEF BACKGROUND
On or about April 25, 2006, How-Tzu Huang (hereinafter “Borrower”) executed
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a promissory note secured a Deed of Trust encumbering the real property located at 4832
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Meadow Springs, Reno, Nevada 89509 (the “Meadow Springs Property”). All beneficial interest
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in the Deed of Trust was formally assigned to Citibank.
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Following the Borrower’s death, on March 5, 2009, a Verified Petition for
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Appointment of Special Administrator and Issuance of Special Letters of Administration over
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Borrower’s estate was filed in the Second Judicial District Court, County of Washoe, State of
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Nevada and was assigned case number PR09-00095 (the “Probate Case”). On March 17, 2009,
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an Order granting Petition for Appointment of Special Administrator and Issuance of Special
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Letters of Administration was filed, appointing Tudor Chirila as Special Administrator over
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Borrower’s estate (the “Special Administrator”).
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On May 31, 2017, a Quitclaim Deed was recorded in the Washoe County
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Recorder’s Office purporting to reflect The Estate of How Tzu Huang, Tudor Chirila, Executor,
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as Grantor, transferred all interest in the Meadow Springs Property to Debtor (the “Quitclaim
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Deed”). No approval of this transaction was obtained from the Probate Court.
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4.
On June 18, 2017, Debtor filed the instant Chapter 11 case.
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5.
That same day, on June 18, 2017, Debtor filed an Objection to Citibank’s Claim
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[ECF 6]1 (hereinafter “Objection to Claim”), a Motion to Avoid Citibank’s Deed of Trust [ECF
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7] (hereinafter “Motion to Avoid”), and a Motion to Sell the Property Free and Clear of All
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Liens [ECF 8] (hereinafter “Motion to Sell”) (collectively, “Debtor’s Motions”).
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An Order Granting the Motion to Sell [ECF 43] was entered on July 13, 2017,
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the Order Granting the Objection to Claim [ECF 55] and Order Granting Motion to Avoid Lien
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[ECF 56] were then entered on August 4, 2017.
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On October 4, 2017, Debtor filed an Application for Order: (1) Finding
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Citibank, N.A. in Contempt; (2) Enforcing this Courts Orders by Compelling Citibank, N.A.
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All ECF references relate to documents filed in the underlying bankruptcy action, assigned as
BK−17−50751−btb
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and Barrett Daffin Frappier Treder & Weiss, LLP to Comply with NRS 107.077; (3) Awarding
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Coercive Civil Sanctions to Compel Compliance with this Court’s Orders; and (4) Awarding of
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Attorneys Fees & Costs to Debtor [ECF 135] (hereafter “Motion for Contempt”). On October
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13, 2017, Citibank filed its Opposition to the Motion for Contempt [ECF 152] (“Opposition”),
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and Debtor filed a Reply on October 16, 2017 [ECF 156], and Citibank filed a Sur-Reply on
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October 25, 2017 [ECF 217].
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On October 25, 2017, the Bankruptcy Court entered an Order Regarding
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Hearing on Debtor’s Motion for Order (ECF No. 135) [ECF 209] ordering that Citibank record
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a reconveyance by October 26, 2017. On November 1, 2017, the Bankruptcy Court entered an
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Order Granting the Motion for Contempt [ECF 267] sanctioning Citibank and Aldridge Pite
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which both doubled and compounded each day after October 30, 2017, on which the Deed of
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Trust had not been reconveyed.
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Collectively, the Order Regarding Hearing on Debtor’s Motion for Order [ECF
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209] and Order Granting the Motion for Contempt [ECF 267] are referred to as “the Debtor’s
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Contempt Orders.
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10.
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Citibank subsequently appealed the Order Granting the Motion for Contempt to
the instant Court as case number 3:17-cv-00565 (the “Appeal”) on October 30, 2017.
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As part of an emergency motion filed as part of the Appeal, this Court granted a
ten (10) day stay of the Debtor’s Contempt Orders.
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In order to address concerns raised by this Court, Citibank thereafter filed a
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Motion for Stay Pending Appeal [ECF 297], Motion to Set Aside Debtor’s Orders [ECF 298]
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and a Motion to Confirm No Automatic Stay is in Effect, or alternatively, Motion for Relief
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from the Automatic Stay [ECF 299] (collectively “Citibank’s Motions”) before the Bankruptcy
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Court, requesting that Citibank’s Motions be heard on shortened notice.
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13.
Thereafter, Debtor and Citibank negotiated and submitted a stipulation (“the
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Bankruptcy Stipulation”) to the Bankruptcy Court staying the Debtor’s Contempt Orders, and
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allowing Citibank’s Motions to be heard in the ordinary course. [ECF 308].
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14.
Thereafter, as part of an agreement which resolved the Debtor’s Contempt
Page 3 of 4
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Orders, the Debtor’s Motions, Citibank’s Motions, and related issues, a stipulation vacating the
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Debtor’s Contempt Orders and the orders on Debtor’s Motions (the “Bankruptcy Stipulation”)
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and withdrawing Citibank’s Motions. A copy of the Bankruptcy Stipulation is attached hereto
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as Exhibit 1.
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ACCORDINGLY, IT IS HEREBY STIPULATED THAT:
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1.
The instant appeal has been rendered moot by the Bankruptcy Stipulation, and
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that the instant appeal may be dismissed pursuant to Federal Rule of Appellate Procedure 42.
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IT IS SO STIPULATED:
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Dated this 26th day of March, 2018.
DARBY LAW PRACTICE, LTD.
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/s/ Kevin A. Darby, Esq.
Kevin A. Darby, Esq.
Attorney for Debtor
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Dated this 26th day of March, 2018.
/s/ Ace C. Van Patten, Esq.
Ace C. Van Patten, Esq.
Attorneys for Citibank N.A.
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IT IS SO ORDERED.
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WRIGHT, FINLAY & ZAK, LLP
March 27, 2018.
________________________________
DISTRICT COURT JUDGE
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Page 4 of 4
EXHIBIT 1
EXHIBIT 1
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WRIGHT, FINLAY & ZAK, LLP
Edgar C. Smith, Esq.
Nevada Bar No. 005506
Ace C. Van Patten, Esq.
Nevada Bar No. 11731
7785 W. Sahara Ave., Suite 200
Las Vegas, NV 89117
(702) 475-7964; Fax: (702) 946-1345
esmith@wrightlegal.net
avanpatten@wrightlegal.net
Attorneys for Citibank, N.A., not in its individual capacity but solely as Trustee for NRZ PassThrough Trust VI
UNITED STATES BANKRUPTCY COURT
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DISTRICT OF NEVADA
IN RE:
BK−17−50751−btb
Chapter 11
RAVENSTAR INVESTMENTS, LLC,
STIPULATION (1) VACATING AND
SETTING ASIDE ORDERS; AND (2)
WITHDRAWING MOTIONS RELATING
TO 4832 MEADOW SPRINGS, RENO,
NEVADA.
Debtor.
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Citibank, N.A., not in its individual capacity but solely as Trustee for NRZ Pass-Through
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Trust VI (“Citibank”), and Debtor, Ravenstar Investments, LLC (“Ravenstar” or “Debtor”) by
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and through their respective counsel, hereby agree to the following stipulated order (the
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“Stipulation”) vacating and setting aside the orders relating to the real property located at 4832
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Meadow Springs, Reno, Nevada 89509 (the “Meadow Springs Property”) and withdrawing
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Citibank’s motions relating to the same.
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I.
1.
BRIEF BACKGROUND
On or about April 25, 2006, How-Tzu Huang (hereinafter “Borrower”) executed
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a promissory note secured a Deed of Trust encumbering the Meadow Springs Property. All
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beneficial interest in the Deed of Trust was formally assigned to Citibank.
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2.
Following the Borrower’s death, on March 5, 2009, a Verified Petition for
Appointment of Special Administrator and Issuance of Special Letters of Administration over
Page 1 of 4
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Borrower’s estate was filed in the Second Judicial District Court, County of Washoe, State of
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Nevada and was assigned case number PR09-00095 (the “Probate Case”). On March 17, 2009,
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an Order granting Petition for Appointment of Special Administrator and Issuance of Special
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Letters of Administration was filed, appointing Tudor Chirila as Special Administrator over
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Borrower’s estate (the “Special Administrator”).
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3.
On May 31, 2017, a Quitclaim Deed was recorded in the Washoe County
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Recorder’s Office purporting to reflect The Estate of How Tzu Huang, Tudor Chirila, Executor,
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as Grantor, transferred all interest in the Meadow Springs Property to Debtor (the “Quitclaim
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Deed”). No approval of this transaction was obtained from the Probate Court.
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4.
On June 18, 2017, Debtor filed the instant Chapter 11 case.
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5.
That same day, on June 18, 2017, Debtor filed an Objection to Citibank’s Claim
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[ECF 6] (hereinafter “Objection to Claim”), a Motion to Avoid Citibank’s Deed of Trust [ECF
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7] (hereinafter “Motion to Avoid”), and a Motion to Sell the Property Free and Clear of All
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Liens [ECF 8] (hereinafter “Motion to Sell”) (collectively, “Debtor’s Motions”).
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6.
An Order Granting the Motion to Sell [ECF 43] was entered on July 13, 2017,
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the Order Granting the Objection to Claim [ECF 55] and Order Granting Motion to Avoid Lien
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[ECF 56] were then entered on August 4, 2017.
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7.
On October 4, 2017, Debtor filed an Application for Order: (1) Finding
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Citibank, N.A. in Contempt; (2) Enforcing this Courts Orders by Compelling Citibank, N.A.
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and Barrett Daffin Frappier Treder & Weiss, LLP to Comply with NRS 107.077; (3) Awarding
21
Coercive Civil Sanctions to Compel Compliance with this Court’s Orders; and (4) Awarding of
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Attorneys Fees & Costs to Debtor [ECF 135] (hereafter “Motion for Contempt”). On October
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13, 2017, Citibank filed its Opposition to the Motion for Contempt [ECF 152] (“Opposition”),
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and Debtor filed a Reply on October 16, 2017 [ECF 156], and Citibank filed a Sur-Reply on
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October 25, 2017 [ECF 217].
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8.
On October 25, 2017, the Court entered an Order Regarding Hearing on
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Debtor’s Motion for Order (ECF No. 135) [ECF 209] ordering that Citibank record a
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reconveyance by October 26, 2017. On November 1, 2017, the Court entered an Order
Page 2 of 4
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Granting the Motion for Contempt [ECF 267] sanctioning Citibank and Aldridge Pite which
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both doubled and compounded each day after October 30, 2017, on which the Deed of Trust
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had not been reconveyed.
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9.
Collectively, the Order Regarding Hearing on Debtor’s Motion for Order [ECF
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209] and Order Granting the Motion for Contempt [ECF 267] are referred to as “the Debtor’s
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Contempt Orders.
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10.
Citibank subsequently appealed the Order Granting the Motion for Contempt to
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the U.S. District Court as case number 3:17-cv-00565 (the “U.S. District Court Appeal”) on
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October 30, 2017.
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11.
As part of an emergency motion filed before the U.S. District Court as part of
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the U.S. District Court Appeal, the Court granted a ten (10) day stay of the Debtor’s Contempt
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Orders.
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12.
In order to address concerns raised by the District Court, Citibank filed in the
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Bankruptcy Court a Motion for Stay Pending Appeal [ECF 297], Motion to Set Aside Debtor’s
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Orders [ECF 298] and a Motion to Confirm No Automatic Stay is in Effect, or alternatively,
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Motion for Relief from the Automatic Stay [ECF 299] (collectively “Citibank’s Motions”).
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The Citibank’s Motions are currently pending.
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13.
Thereafter, Debtor and Citibank negotiated and submitted a stipulation (“the
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Bankruptcy Stipulation”) to the Bankruptcy Court staying the Debtor’s Contempt Orders, and
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allowing Citibank’s Motions to be heard in the ordinary course. [ECF 308].
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14.
Recently, Debtor and Citibank entered into an agreement which resolved (i) the
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Debtor’s Contempt Orders, (ii) the Debtor’s Motions, (iii) Citibank’s Motions, and (iv) all
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related issues (the “Agreement”).
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IT IS HEREBY STIPULATED THAT:
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1.
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The Debtor’s Contempt Orders [ECF 209 and 267] shall be vacated and set
aside in their entirety.
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The Order Granting the Motion to Sell [ECF 43] entered on July 13, 2017, the
Order Granting the Objection to Claim [ECF 55] and Order Granting Motion to Avoid Lien
Page 3 of 4
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[ECF 56] entered on August 4, 2017 shall all be vacated and set aside in their entirety.
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Citibank’s Motion to Set Aside Debtor’s Orders [ECF 298] and Motion to
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Confirm No Automatic Stay is in Effect, or alternatively, Motion for Relief from the
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Automatic Stay [ECF 299] shall be withdrawn without prejudice, and all hearings on the same
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vacated.
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IT IS SO STIPULATED:
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Dated this 26th day of March, 2018.
DARBY LAW PRACTICE, LTD.
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/s/ Kevin A. Darby, Esq.
Kevin A. Darby
Attorney for Debtor
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Dated this 26th day of March, 2018.
WRIGHT, FINLAY & ZAK, LLP
/s/ Ace C. Van Patten, Esq.
Ace C. Van Patten, Esq.
Attorneys for Citibank
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