Bank of America, N.A. v. Madeira Canyon Homeowners' Association

Opinion

1 DIANA S. EBRON, ESQ. Nevada Bar No. 10580 2 E-Mail: diana@kgelegal.com JACQUELINE A. GILBERT, ESQ. 3 Nevada Bar No. 10593 E-Mail: jackie@kgelegal.com 4 KAREN L. HANKS, ESQ. Nevada Bar No. 9578 5 E-Mail: karen@kgelegal.com KIM GILBERT EBRON 6 7625 Dean Martin Drive, Suite 110 Las Vegas, Nevada 89139-5974 7 Telephone: (702) 485-3300 Facsimile: (702) 485-3301 8 Attorney for SFR Investments Pool 1, LLC

9 UNITED STATES DISTRICT COURT

10 DISTRICT OF NEVADA

11 BANK OF AMERICA, N.A., Case No.: 2:16-cv-00656-RFB-DJA

12 Plaintiff, NOTICE OF SETTLEMENT AND STIPULATION AND ORDER TO 13 vs. EXTEND STAY OF LITIGATION

14 MADEIRA CANYON HOMEOWNERS’ ASSOCIATION; NEVADA ASSOCIATION 15 SERVICES, INC.; and SFR INVESTMENTS POOL 1, LLC, 16 Defendants. 17 SFR INVESTMENTS POOL 1, LLC, a 18 Nevada limited liability company,

19 Counterclaimant/Cross-Claimant,

20 vs.

21 BANK OF AMERICA, N.A.; and NEIL R. KING, an individual, 22 Counter-Defendant/Cross-Defendant. 23

24 PLEASE TAKE NOTICE that Bank of America, N.A. (“BANA”) and SFR Investments 25 Pool 1, LLC (“SFR”) have reached a global settlement in principal on multiple properties, 26 including the Property at issue in this case. The settlement will resolve all claims between BANA 27 and SFR. 28 1 BANA and SFR have agreed to stay the litigation for ninety (90) days to allow additional 2 time to finalize settlement. This will also provide an opportunity for BANA to discuss the 3 potential for settlement as to its claims against Madeira Canyon Homeowners Association (the 4 “Association”). 5 Accordingly, BANA, SFR and the Association (collectively the “Parties”) are submitting 6 the instant Stipulation and Order seeking to extend the already existing stay of litigation in this 7 matter. 8 Pursuant to a Minute Order in Chambers issued on October 17, 2019, this case was 9 administratively stayed pending the result of the Nevada Supreme Court’s order of en banc 10 reconsideration in the case Bank of America, N.A. v. Thomas Jessup, LLC Series VII. [ECF No. 11 63.] The Minute Order set a deadline of 30 days after the stay was lifted for refiling dispositive 12 motions. [ECF No. 63.] The Nevada Supreme Court issued its Order of en banc reconsideration 13 on May 7, 2020. Bank of America, N.A. v. Thomas Jessup, LLC Series VII, 462 P.3d 255 (Nev. 14 2020) (unpublished disposition), thereby resolving that issue. While the issuance of the Order did 15 not automatically lift the stay in this case, in an abundance of caution, the Parties hereby stipulate 16 to vacate the dispositive motion deadline set by the Court’s October 7, 2019, Order, and stipulate 17 to extend the stay of litigation for ninety (90) days to allow additional time to finalize settlement. 18 … 19 20 … 21 22 … 23 24 … 25 26 … 27 28 … 1 The Parties further request the court set a deadline for filing a status report regarding the 2 || settlement for ninety (90) days from entry of this Stipulation and Order. This request to stay is 3 || being made in the interest of preserving judicial resources and, as set forth above, to allow 4 || additional time to finalize settlement. The Parties reserve the right to move to lift the stay and 5 || reinstate deadlines before the ninety (90) days if any of them choose to do so. 5 DATED this 5th day of June, 2020. DATED this 5th day of June, 2020.

3 KIM GILBERT EBRON AKERMAN LLP /s/ Jacqueline A. Gilbert /s/ Holly E. Walker 9 ||| JACQUELINE A. GILBERT, Esq. DARREN T. BRENNER, ESQ. Nevada Bar No. 10593 Nevada Bar No. 8386 10 ||| 7625 Dean Martin Drive, Suite 110 HOLLY E. WALKER, ESQ. Las Vegas, Nevada 89139 Nevada Bar No. 14295 11 || E-mail: jackie@kgelegal.com 1635 Village Center Circle, Suite 200 Attorneys for SFR Investments Pool 1, LLC Las Vegas, NV 89134 12 E-mail: darren.brenner@akerman.com E-mail: holly.walker@akerman.com 13 Attorneys for Bank of America, N.A.

SIE DATED this 5th day of June, 2020. 15 Zils LIPSON NEILSON P.C. 16 = /s/ Amber M. Williams 17 J. WILLIAM EBERT, Esq. Nevada Bar No. 2697 18 AMBER M. WILLIAMS, Eso Nevada Bar No. 12301 19 9900 Covington Cross Drive, Suite 120 Las Vegas, Nevada 89144 20 E-mail: bebert@lipsonneilson.com E-mail: awilliams@lipsonneilson.com 21 Attorneys for Madeira Canyon Homeowners Association 22 23 ORDER 24 IT IS SO ORDERED. 25 AS 26 RICHARD F. WARE, I 7 UNITED STATES DISTRICT JUDGE 2g DATED this | 1th day of June, 2020.

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