The Federal Deposit Insurance Corporation, et al v. Killinger et al

Filing 85

STIPULATION AND PROPOSED ORDER Extending Time to Perfect Settlement by parties. (Caplow, Steven)

The Honorable Marsha J. Pechman

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UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF WASHINGTON
AT SEATTLE

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10 THE FEDERAL DEPOSIT INSURANCE
CORPORATION, AS RECEIVER OF
11 WASHINGTON MUTUAL BANK,
Plaintiff,

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vs.

14 KERRY K. KILLINGER, STEPHEN J.
ROTELLA, DAVID C. SCHNEIDER,
15 LINDA C. KILLINGER, and ESTHER T.
ROTELLA,
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Defendants.
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Case No. 2:11-cv-00459
STIPULATION AND [PROPOSED]
ORDER EXTENDING TIME TO
PERFECT SETTLEMENT AND SUBMIT
REQUEST FOR ENTRY OF FINAL
JUDGMENT

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STIPULATION AND [PROPOSED] ORDER
EXTENDING TIME TO PERFECT SETTLEMENT AND
SUBMIT REQUEST FOR ENTRY OF FINAL
JUDGMENT
CASE NO. 2:11-CV-00459

SIMPSON THACHER & BARTLETT LLP
425 Lexington Avenue
New York, New York 10017
-and1999 Avenue of the Stars, 29th Floor
Los Angeles, California 90067

DAVIS WRIGHT TREMAINE LLP
1201 Third Avenue, Suite 2200
Seattle, Washington 98101
Tel.: [phone]
Fax: [phone]

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Plaintiff Federal Deposit Insurance Corporation, as Receiver of Washington Mutual Bank

2 (“FDIC”), and Defendants Kerry K. Killinger, Linda C. Killinger, Stephen J. Rotella, David C.
3 Schneider, and Esther T. Rotella (“Defendants”), through their respective counsel, submit this
4 Stipulation and [Proposed] Order to extend the deadlines for perfecting the parties’ settlement
5 and submitting a request for entry of final judgment pursuant to the Court’s Order Vacating Case
6 Deadlines (Dkt. No. 84).
RECITALS

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1. On October 27, 2011, the parties notified the Court of a pending settlement of this

9 case subject to certain conditions. That same day, the Court issued an Order Vacating Deadlines
10 (Dkt. No. 84), which vacated the then-current case schedule, struck all pending deadlines and
11 motions, granted the parties 60 days to perfect their settlement, and ordered the parties to submit
12 their request for entry of final judgment within 60 days of entry of this order.
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2. The FDIC and Defendants have now executed a Settlement and Release

14 Agreement.
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3. Pursuant to that Settlement and Release Agreement, a motion will be made in In

16 re Washington Mutual, Inc., No. 08-12229, United States Bankruptcy Court, District of
17 Delaware, for an order authorizing the insurance companies to make the insurance payment
18 pursuant to the settlement agreement and discharging the insurers from liability (“Bankruptcy
19 Distribution Order”).
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4. The Bankruptcy Distribution Order is a condition precedent to the settlement

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5. The parties anticipate filing a motion seeking the Bankruptcy Distribution Order

23 before year-end to be heard by the Bankruptcy Court in January 2012.
STIPULATION

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IT IS HEREBY STIPULATED AND AGREED, by and between counsel for the FDIC

26 and Defendants, that the parties shall have until February 24, 2012 to perfect their settlement and
27 submit their request for entry of final judgment.
STIPULATION AND [PROPOSED] ORDER EXTENDING
TIME TO PERFECT SETTLEMENT AND SUBMIT
REQUEST FOR ENTRY OF FINAL JUDGMENT —PAGE 1
CASE NO. 2:11-CV-00459

SIMPSON THACHER & BARTLETT LLP
425 Lexington Avenue
New York, New York 10017
-and1999 Avenue of the Stars, 29th Floor
Los Angeles, California 90067

DAVIS WRIGHT TREMAINE LLP
1201 Third Avenue, Suite 2200
Seattle, Washington 98101
Tel.: [phone]
Fax: [phone]

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IT IS SO STIPULATED.

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DATED this 23rd day of December, 2011.

3 REED SMITH LLP

DAVIS WRIGHT TREMAINE LLP

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By: /s/ Barry Rosen
Barry Rosen (pro hac vice)
Henry Pietrkowski (pro hac vice)
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10 South Wacker Drive
Suite 4000
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Chicago, IL 60606
Tel: [phone]
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E-mail: [e-mail]

By: /s/ Steven P. Caplow
Stephen M. Rummage, WSBA #11168
Steven P. Caplow, WSBA #19843
1201 Third Avenue, Suite 2200
Seattle, Washington 98101-3045
Tel.:
[phone]
Fax:
[phone]
E-mail: [e-mail]
[e-mail]

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KARR TUTTLE CAMPBELL

Bruce E. Larson, WSBA #
11 Walter E. Barton, WSBA #26408
Dennis H. Walters, WSBA #
12 1201 Third Avenue, Suite 2900
Seattle, WA 98101
13 Telephone: [phone]
14 Leonard J. DePasquale (admitted pro hac vice)
Supervisory Counsel,
15 Federal Deposit Insurance Corporation
3501 North Fairfax Drive, VS-B-7058
16 Arlington, VA 22226
[phone]
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18 Attorneys for the Federal Deposit Insurance
Corporation
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SIMPSON THACHER & BARTLETT LLP
Barry R. Ostrager (pro hac vice)
Mary Kay Vyskocil (pro hac vice)
425 Lexington Avenue
New York, New York 10017
Tel.: [phone]
Fax: [phone]
Email: [e-mail]
[e-mail]
-andDeborah L. Stein (pro hac vice)
1999 Avenue of the Stars, 29th Floor
Los Angeles, California 90067
Tel.: [phone]
Fax: [phone]
Email: [e-mail]
Attorneys for Stephen J. Rotella, David C.
Schneider, and Esther T. Rotella

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WILSON SONSINI GOODRICH &
ROSATI

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By: /s/ Barry M. Kaplan
Barry M. Kaplan, WSBA #8661
701 Fifth Avenue, Suite 5100
Seattle, WA 98104-7036
Tel.:
[phone]
Fax:
[phone]
E-mail: [e-mail]

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Attorneys for Kerry and Linda Killinger

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STIPULATION AND [PROPOSED] ORDER EXTENDING
TIME TO PERFECT SETTLEMENT AND SUBMIT
REQUEST FOR ENTRY OF FINAL JUDGMENT —PAGE 2
CASE NO. 2:11-CV-00459

SIMPSON THACHER & BARTLETT LLP
425 Lexington Avenue
New York, New York 10017
-and1999 Avenue of the Stars, 29th Floor
Los Angeles, California 90067

DAVIS WRIGHT TREMAINE LLP
1201 Third Avenue, Suite 2200
Seattle, Washington 98101
Tel.: [phone]
Fax: [phone]

[PROPOSED] ORDER

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Based on the foregoing Stipulation,

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IT IS HEREBY ORDERED that the parties shall have until February 24, 2012 to perfect

4 their settlement and submit their request for entry of final judgment.
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6 DATED this ____ day of _________________, 2011.
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_________________________________________
THE HONORABLE MARSHA J. PECHMAN
United States District Judge

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11 Presented by:
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DAVIS WRIGHT TREMAINE LLP

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By: /s/ Steven P. Caplow
Stephen M. Rummage, WSBA #11168
Steven P. Caplow, WSBA #19843
1201 Third Avenue, Suite 2200
Seattle, Washington 98101-3045
Tel.:
[phone]
Fax:
[phone]
E-mail: [e-mail]
[e-mail]

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SIMPSON THACHER & BARTLETT LLP
Barry R. Ostrager (pro hac vice)
Mary Kay Vyskocil (pro hac vice)
425 Lexington Avenue
New York, New York 10017
Tel.: [phone]
Fax: [phone]
Email: [e-mail]
[e-mail]
-andDeborah L. Stein (pro hac vice)
1999 Avenue of the Stars, 29th Floor
Los Angeles, California 90067
Tel.: [phone]
Fax: [phone]
Email: [e-mail]

Attorneys for Stephen J. Rotella, David C. Schneider, and Esther T. Rotella

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[PROPOSED] ORDER EXTENDING TIME TO PERFECT
SETTLEMENT AND SUBMIT REQUEST FOR ENTRY OF
FINAL J UDGMENT
CASE NO. 2:11-CV-00459

SIMPSON THACHER & BARTLETT LLP
425 Lexington Avenue
New York, New York 10017
-and1999 Avenue of the Stars, 29th Floor
Los Angeles, California 90067

DAVIS WRIGHT TREMAINE LLP
1201 Third Avenue, Suite 2200
Seattle, Washington 98101
Tel.: [phone]
Fax: [phone]

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CERTIFICATE OF SERVICE
I hereby certify that on December 23, 2011, the foregoing was electronically filed with

3 the Clerk of the Court using the CM/ECF system which will send notification of such filing to all
4 counsel of record who receive CM/ECF notification and that the remaining parties shall be
5 served in accordance with the Federal Rules of Civil Procedure.
6 DATED this 23rd day of December, 2011.
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DAVIS WRIGHT TREMAINE LLP

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By: /s/ Steven P. Caplow
Steven P. Caplow, WSBA #19843
1201 Third Avenue, Suite 2200
Seattle, Washington 98101-3045
Tel.:
[phone]
Fax:
[phone]
E-mail:
[e-mail]

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CERTIFICATE OF SERVICE FOR STIPULATION AND
[PROPOSED] ORDER EXTENDING TIME TO PERFECT
SETTLEMENT AND SUBMIT REQUEST FOR ENTRY OF
FINAL J UDGMENT
CASE NO. 2:11-CV-00459

SIMPSON THACHER & BARTLETT LLP
425 Lexington Avenue
New York, New York 10017
-and1999 Avenue of the Stars, 29th Floor
Los Angeles, California 90067

DAVIS WRIGHT TREMAINE LLP
1201 Third Avenue, Suite 2200
Seattle, Washington 98101
Tel.: [phone]
Fax: [phone]