Deerborne Cottages, L.L.C. et al v. First Bank et al

Filing 34

ORDER granting 11 Motion to Stay this Litigation for 90 days. Signed by Magistrate Judge Dennis Howell on 11/18/11. (ejb)

IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
ASHEVILLE DIVISION
1:11cv178
DEERBORNE COTTAGES, L.L.C.,
et al.,

)
)
)
Plaintiffs,
)
)
v.
)
)
FIRST BANK, et al.,
)
)
Defendants.
)
___________________________________ )

ORDER

Pending before the Court is the Motion to Stay Litigation [# 11] filed by the
Federal Deposit Insurance Corporation as Receiver for The Bank of Asheville
(“FDIC”).

The FDIC moves to stay this action for ninety days pursuant to 12

U.S.C. § 1821(d)(12), which provides that upon a receiver’s request to stay
proceedings, “the court shall grant such stay to all parties.” 12 U.S.C. §
1821(d)(12)(B) (emphasis added). The granting of a stay under this section is
mandatory. Praxis Props., Inc. v. Colonial Sav. Bank, S.L.A., 947 F.2d 49, 67 (3rd
Cir. 1991); Wachovia Bank v. Vorce, No. 1:07cv847, 2007 WL 3471229, at * 2
(W.D. Mich. Nov. 13, 2007); Horizon Bank v. St. Paul Mercury Ins. Co., No.
8:10cv1977-T-24, 2010 WL 3810840, at *1 (M.D. Fla. Sept. 24, 2010).
Accordingly, the Court GRANTS the Motion to Stay Litigation [# 11] and STAYS
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these proceedings for ninety (90) days.

Signed: November 18, 2011

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