United States District Court, D. Nevada
IN RE RAVENSTAR INVESTMENTS, LLC, Debtor.
RAVENSTAR INVESTMENTS, LLC, Appellee. CITIBANK, N.A., NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS TRUSTEE FOR NRZ PASS-THROUGH TRUST VI, Appellant,
LAW PRACTICE, LTD. Kevin A. Darby, Esq. Attorney for Debtor
WRIGHT, FINLAY & ZAK, LLP Ace C. Van Patten, Esq. Ace C.
Van Patten, Esq. Attorneys for Citibank N.A.
STIPULATION REGARDING DISMISSAL OF APPEAL
Citibank, N.A., not in its individual capacity but solely as
Trustee for NRZ Pass-Through Trust VI
(“Citibank”), and the Appellee Debtor, Ravenstar
Investments, LLC (“Ravenstar” or
“Debtor”) by and through their respective
counsel, hereby agree to the following stipulated order (the
“Stipulation”) dismissing the appeal in light of
the subsequent settlement of the issues underlying the
or about April 25, 2006, How-Tzu Huang (hereinafter
“Borrower”) executed a promissory note secured a
Deed of Trust encumbering the real property located at 4832
Meadow Springs, Reno, Nevada 89509 (the “Meadow Springs
Property”). All beneficial interest in the Deed of
Trust was formally assigned to Citibank.
Following the Borrower's death, on March 5, 2009, a
Verified Petition for Appointment of Special Administrator
and Issuance of Special Letters of Administration over
Borrower's estate was filed in the Second Judicial
District Court, County of Washoe, State of Nevada and was
assigned case number PR09-00095 (the “Probate
Case”). On March 17, 2009, an Order granting Petition
for Appointment of Special Administrator and Issuance of
Special Letters of Administration was filed, appointing Tudor
Chirila as Special Administrator over Borrower's estate
(the “Special Administrator”).
May 31, 2017, a Quitclaim Deed was recorded in the Washoe
County Recorder's Office purporting to reflect The Estate
of How Tzu Huang, Tudor Chirila, Executor, as Grantor,
transferred all interest in the Meadow Springs Property to
Debtor (the “Quitclaim Deed”). No. approval of
this transaction was obtained from the Probate Court.
June 18, 2017, Debtor filed the instant Chapter 11 case.
same day, on June 18, 2017, Debtor filed an Objection to
Citibank's Claim [ECF 6] (hereinafter “Objection to
Claim”), a Motion to Avoid Citibank's Deed of Trust
[ECF 7] (hereinafter “Motion to Avoid”), and a
Motion to Sell the Property Free and Clear of All Liens [ECF
8] (hereinafter “Motion to Sell”) (collectively,
Order Granting the Motion to Sell [ECF 43] was entered on
July 13, 2017, the Order Granting the Objection to Claim [ECF
55] and Order Granting Motion to Avoid Lien [ECF 56] were
then entered on August 4, 2017.
October 4, 2017, Debtor filed an Application for Order: (1)
Finding Citibank, N.A. in Contempt; (2) Enforcing this Courts
Orders by Compelling Citibank, N.A. and Barrett Daffin
Frappier Treder & Weiss, LLP to Comply with NRS 107.077;
(3) Awarding Coercive Civil Sanctions to Compel Compliance
with this Court's Orders; and (4) Awarding of Attorneys
Fees & Costs to Debtor [ECF 135] (hereafter “Motion
for Contempt”). On October 13, 2017, Citibank filed its
Opposition to the Motion for Contempt [ECF 152]
(“Opposition”), and Debtor filed a Reply on
October 16, 2017 [ECF 156], and Citibank filed a Sur-Reply on
October 25, 2017 [ECF 217].
October 25, 2017, the Bankruptcy Court entered an Order
Regarding Hearing on Debtor's Motion for Order (ECF No.
135) [ECF 209] ordering that Citibank record a reconveyance
by October 26, 2017. On November 1, 2017, the Bankruptcy
Court entered an Order Granting the Motion for Contempt [ECF
267] sanctioning Citibank and Aldridge Pite which both
doubled and compounded each day after October 30, 2017, on
which the Deed of Trust had not been reconveyed.
Collectively, the Order Regarding Hearing on Debtor's
Motion for Order [ECF 209] and Order Granting the Motion for
Contempt [ECF 267] are referred to as “the Debtor's
Citibank subsequently appealed the Order Granting the Motion
for Contempt to the instant Court as case number