Ford Motor Credit Company LLC v. JK Gladstone Ford, LLC et al

Filing 12

ORDER ISSUING TEMPORARY RESTRAINING ORDER: Granting Plaintiff's Motion for a Temporary Restraining Order 5 . Hearing on Plaintiff's Application for Writ of Possession and Injunctive Relief 6 is set for 3/16/2009 at 1:30PM in Cour troom 15-B before Judge Redden. Defendant JK Gladstone shall file and serve any responsive papers no later than 2/10/2009. Plaintiff Ford Credit shall file any reply papers no later than 2/24/2009. Signed on 1/27/09 by Judge James A. Redden. (gm)

MARK 1. KENNEY (CSB No. 87345) DUANE M. GECK (CSB No. 114823) DONALD H. CRAM, I I I (CSB No. 160004) SEVERSON & WERSON A Professional C o r p o r a t i o n O n e Embarcadero C e n t e r Suite 2600 San Francisco C A 9411 l Telephone: (415) 3 9 8 - 3 3 4 4 Facslllli1e: [phone] Email: [e-mail]11 P A U L S. COSGROVE (State B a r N o . 81195) LINDSA Y, ~}'}RT & WEIGLER, L L P 1300 S.W. 5 Avenue, Suite 3400 Portland, O R 9720 I Telephone: [phone] FaCSlll1i1e: ($03) 226-7697 Email: p c o s g r o v e @ l i n d s a y h a r t . c o m A t t o m e y s for P l a i n t i f f FORD M O T O R CREDIT COMPANYLLC U N I T E D STATES D I S T R I C T C O U R T DISTRICT OF O R E G O N

27

F O R D MOTOR CREDIT CO'MP ANY LLC, a D e l a w a r e Limited Liability Company, Plaintiff, vs. J K G L A D S T O N E F O R D , LLC, an O r e g o n L i m i t e d L i a b i l i t y C o m p a n y , and JOE KHORASANI, an l11divicfual, Defendants.

Case No. CV 09-0097pk

-~-ORDER ISSUING 'D
ORDER
, M P O R A R V RESTRAINING

The A p p l i c a t i o n o f F o r d M o t o r C r e d i t C o m p a n y L L C ( " F o r d C r e d i t " ) , a Delaware limited liability company, for the issuance o f an order for writ o f possession and for injunctive r e l i e f came on before the Honorable '7\:"""",-> United States District Court Judge for the District o f Oregon.
10872101431709596.1

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F o r d Credit v. JK Gladslone Ford

The Court, having reviewed the application o f F o r d Credit for writ o f possession and injunctive relief, the supporting declarations and memorandum o f points and authorities and the complaint on file in this action, and any opposition filed to the application, finds that Ford Credit has established that it is entitled to the i s s u a n c e o f a W r i t o f P o s s e s s i o n a n d has established the p r o b a b l e v a l i d i t y t h a t there is an immediate danger that the proceeds from the disposition o f defendant's franchise may become unavailable to levy and may become substantially impaired in value, and GOOD C A U S E A P P E A R I N G , T H E R E F O R E , IT IS HEREBY ORDERED that: 1. Defendant, J K Gladstone Ford, LLC ("JK Gladstone") has received

timely and proper notice o f t h i s hearing on Plaintiff Ford C r e d i t ' s Application for Writ o f Possess ion and Injunctive R e l i e f under the C o u r t ' s Local Rules. 2. . Ford Credit has established the probable validity o f its security interest

in, and claim to possession of, all general intangibles and the proceeds there from (collectively referred to as the "Collateral"), that Defendant JK Gladstone is in default on its loan obligations owing to Ford Credit as set forth in the moving papers. 3. F o r d Credit has established that the Collateral is located at JK

Gladstone's bank: US Bank o f Portland, Oregon, Account No. 153695027810 (the "Bank"). 4. JK Gladstone is restrained from removing any o f the Collateral,

including the proceeds held in the Bank or any other account, i n such manner as to make i t less available to seizure by levying officer and/or impairing the value o f the s u b j e c t Collateral. 5. JK Gladstone, its agents, employees, and all persons acting for it or on

its behalf, are hereby immediately restrained and enjoined from trans felTing any
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Ford Credit v, JK Gladstone Ford

interest in the Collateral, including the proceeds held in the Bank o r any other account, by lease, sale, pledge, gift, or grant o f security interest o r otherwise disposing of, encumbering, secreting or transferring possession o f t h e Collateral, in any manner which would prevent, hinder, o r delay the levying officer from taking p o s s e s s i o n o f t h e Collateral. 6. Defendant JK Gladstone, its agents, employees and anyone acting on

its behalf, are enjoined and restrained from transferring any interest by sale, pledge, gift o r grant o f security interest or otherwise disposing of, or encumbering the Collateral. 7. Hearing on Ford Credit's application for writ o f possession and injunctive relief is set in this Courtroom on 1/JIt:1.A_.cC~

,(." 2009, at 1'.50

.e-.m. JK Gladstone shall file and serve any responsive papers no later than

:CeefU,(W-J,

[ ( 1 , 2 0 0 9 . Ford Credit shall file any reply papers no later than

}1dju-'(LaJ~t, 2009. Service o f JK Gladstone's response o r Ford Credit's

reply may be made by facsimile. 8. 9. T h i s o r d e r s h a l l issue J a n u a r y ; ) i - , 2 0 0 9 , at - . L l J l f - m . T h i s O r d e r s h a l l r e m a i n i n e f f e c t until m o d i f i e d b y f m i h e r o r d e r o f t h i s

Couti, or else is moditled by written agreement signed by Plaintiff Ford Credit and Defendant JK Gladstone filed with and approved by order o f this Court.

DATED: J a n u a r y

'9.7

,2009

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Ford Credit v. JK Gla,htolle Ford