Stooksbury v. Ross et al

Filing 1437

ORDER: The Court APPROVES and AUTHORIZES the settlements set forth in the R&R as more fully stated in Order. Signed by Chief District Judge Thomas A Varlan on 1/7/14. (ABF)

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF TENNESSEE
AT KNOXVILLE
ROBERT T. STOOKSBURY, JR.,
Plaintiff,
v.
MICHAEL L. ROSS, et al.,
Defendants.

ROBERT T. STOOKSBURY, JR.,
Plaintiff,
v.
MICHAEL L. ROSS, et al.,
Defendants.

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No.: 3:09-CV-498-TAV-HBG

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No.: 3:12-CV-548-TAV-HBG

ORDER
These actions are before the Court on the Joint Report and Recommendation from
the Settlement Judges (the “R&R”) [Doc. 1423]. No opposition has been filed with
respect to the R&R, and the time for doing so has expired. The Court has reviewed the
R&R and finds that the proposed settlements discussed therein have been entered into
freely and in good faith and that each settlement is fair, adequate, and reasonable.
Further, the compromise of the disputed claims will inure to the benefit of the
receivership estate, allowing the Court and the receiver to implement an orderly process
to promptly liquidate receivership assets and terminate the receivership. The Court thus

APPROVES and AUTHORIZES the settlements set forth in the R&R. As a result of
this approval and the contents of the R&R, the Court hereby ORDERS as follows with
respect to Stooksbury I (3:09-CV-498-TAV-HBG):
1.

the following motions are hereby REFERRED to Magistrate Judge H.
Bruce Guyton for his consideration and disposition or report and
recommendation, as may be appropriate: Twenty-Seventh Application of
Receiver for Interim Compensation and Expense Reimbursement [Doc.
1393], Twenty-Eighth Application of Receiver for Interim Compensation
and Expense Reimbursement [Doc. 1410], Receiver’s Eighth Quarterly
Report and Twenty-Ninth Interim Application to Pay Receiver’s Fees and
Approve Receiver’s Attorneys’ Fees and Costs [Doc. 1416], Receiver’s
Motion for Leave to File Document Under Seal [Doc. 1417], Thirtieth
Application of Receiver for Interim Compensation and Expense
Reimbursement [Doc. 1430];

2.

the Joint Motion to Approve Compromise and Settlement of Receiver’s
Claims Against RPM Assets, LLC and Mitchell E. Jones [Doc. 1411] is
GRANTED;

3.

the Motion to Intervene [Doc. 1300] shall be DENIED as moot upon
notification of completion of repossession;

4.

the following motions are hereby DENIED as moot: Plaintiff Robert T.
Stooksbury, Jr.’s Motion for a Preclusion Order Against Athena, Doukas,
and Ross [Doc. 1032], Receiver’s Motion and Memorandum of Law to
Enforce the Court’s Memorandum Opinion and Order [Doc. 1079], Motion
for Clarification [Doc. 1173], Joint Motion to Compromise and Settlement
of Receiver’s Claim and Approve Transfer of the Rarity Pointe Declarant
Rights from the Receiver to Windriver Investments, LLC [Doc. 1231],
Receiver’s Proposed Liquidation and Distribution Plan [Doc. 1259],
Motion to Approve Receiver’s Proposed Liquidation and Distribution Plan
for the Property Located at 3400 S. Ocean Boulevard SF-1, Palm Beach,
Florida 33480 [Doc. 1279], Motion for Expedited Ruling on Motion for
Clarification [Doc. 1292], Motion to Intervene [Doc. 1300], Plaintiff
Robert T. Stooksbury, Jr.’s Motion to Disallow the Proof of Claim by the
IRS [Doc. 1313], Plaintiff Robert T. Stooksbury, Jr.’s Motion for
Clarification and Reconsideration to the Extent Necessary [Doc. 1314],
Unopposed Motion for Extension to File Response [Doc. 1320],
Unopposed Motion for Extension to File Response [Doc. 1342], Plaintiff
Robert T. Stooksbury, Jr.’s Motion for an Expedited Ruling on the
2

Liquidation Plan as it Pertains to the Assets at Rarity Bay Owned by
Judgment Debtor Rarity Management Company, LLC [Doc. 1369], and
Plaintiff Robert T. Stooksbury, Jr.’s Motion for an Expedited Ruling on the
Liquidation Plan as it Pertains to the Lots and Condos at Rarity Bay Owned
by Judgment Debtors Tellico Lake Properties, LP, and LRT Properties, Inc.
[Doc. 1370];
5.

the Reports and Recommendations pertaining to those motions denied as
moot are MOOT as well [Docs. 1321, 1322, 1323]; and

6.

the Report and Recommendation entered on September 24, 2014 [Doc.
1404] is ACCEPTED IN WHOLE, the receiver’s Seventh Quarterly
Report and Twenty-Fifth Interim Application to Pay Receiver’s Fees and
Approve Receiver’s Attorneys’ Fees and Costs [Doc. 1330] is GRANTED,
the receiver is permitted to disburse $3,557.75 requested as compensation
for services and reimbursement for expenses June 2014, and the $98,803.00
in professional fees and $153.00 in expenses incurred by Woolf, McClane,
Bright, Allen & Carpenter, PLLC is APPROVED.1

With respect to Stooksbury II (3:12-CV-548-TAV-HBG), in light of the ongoing
negotiations with certain defendants, the Court hereby ORDERS a continuation of the
stay until further order of the Court, with the exception that plaintiff may file notices of
dismissal to effectuate the terms of the settlement agreements.
IT IS SO ORDERED.

s/ Thomas A. Varlan
CHIEF UNITED STATES DISTRICT JUDGE

1

The report and recommendation recommends that the receiver’s Seventh Quarterly
Report and Twenty-Fifth Interim Application to Pay Receiver’s Fees and Approve Receiver’s
Attorneys’ Fees and Costs be granted, and there were no timely objections to the report and
recommendation. After a careful review of the matter, the Court is in agreement with Magistrate
Judge Guyton’s recommendations, which the Court adopts and incorporates into its ruling.

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