Opinion
Case No. CV10-4085 JSW
10-11-2011
THOMAS S. WU, Plaintiff, v. FEDERAL DEPOSIT INSURANCE CORPORATION, in its capacity as receiver of United Commercial Bank, and FEDERAL DEPOSIT INSURANCE CORPORATION, in its corporate capacity, Defendants.
GREGORY P. O'HARA ANDREW R. NEILSON GINA M. FORNARIO NIXON PEABODY LLP Attorneys for Defendant FEDERAL DEPOSIT INSURANCE CORPORATION AS RECEIVER OF UNITED COMMERCIAL BANK
GREGORY P. O'HARA
ANDREW R. NEILSON
GINA M. FORNARIO
NIXON PEABODY LLP
Attorneys for Defendant
FEDERAL DEPOSIT INSURANCE CORPORATION
AS RECEIVER OF UNITED COMMERCIAL BANK
STIPULATION AND PROPOSED ORDER
CONTINUING PRETRIAL DEADLINES
BASED ON CONDITIONAL
SETTLEMENT
STIPULATION
This case arises out of the failure of United Commercial Bank ("UCB"). On March 15-16, 2011, the above-captioned parties attended mediation with Hon. Daniel Weinstein (Ret.). The mediation included participants and issues from several legal actions, including Thomas Wu's claims against the Federal Deposit Insurance Corporation in its capacity as receiver of UCB (the "FDIC") and the FDIC's claims against Mr. Wu (together, "the Parties"). The terms of a conditional global settlement were reached. However, given the number of participants and the complexity of the issues, the parties are still negotiating the terms and conditions of a final agreement;
WHEREAS the Parties believe that it would promote efficiency and the conservation of the Court's and the Parties' resources to continue pretrial deadlines while the Parties negotiate the terms and conditions of a final agreement;
THEREFORE, the Parties, through their respective counsel of record, hereby agree and stipulate that:
1. The FDIC's responsive pleading deadline shall be continued from October 31, 2011, to February 1, 2012; and
2. The Case Management Conference and all attendant matters - including the filing of the joint Case Management Statement and Rule 26(f) Report, and the serving of the parties' initial disclosures under Rule 26(a) - shall be continued until after February 1, 2012, on a date to be set by the Court.
NIXON PEABODY LLP
By: Andrew Neilson
Andrew Neilson
Attorneys for Defendant Federal Deposit
Insurance Corporation, as receiver of
United Commercial Bank
LATHAM & WATKINS LLP
By: Timothy Crudo
Timothy P. Crudo
Attorneys for Plaintiff Thomas S. Wu
-[PROPOSED] ORDER
The Case Management Conference currently scheduled for October 31, 2011 , is hereby continued to March 2, 2012. The parties shall meet and confer and file a Joint Case Management Statement and exchange initial disclosures pursuant to FRCP 26(a) on or before February 24, 2012.