Filed: Mar. 29, 2018
Latest Update: Mar. 29, 2018
Summary: STIPULATION AND ORDER TO EXTEND DISCOVERY DEADLINES FOR THE LIMITED PURPOSE OF CONDUCTING DEPOSITIONS (FIFTH REQUEST) GEORGE FOLEY, JR. , Magistrate Judge . Pursuant to Local Rule 26-4 and the Court's Scheduling Order, Plaintiff The Bank of New York Mellon, successor trustee to JPMorgan Chase Bank, National Association, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Stearns ALT-A Trust 2005-10, Mortgage Pass-Through Certificates, Series 2005-10 ("Trustee"),
Summary: STIPULATION AND ORDER TO EXTEND DISCOVERY DEADLINES FOR THE LIMITED PURPOSE OF CONDUCTING DEPOSITIONS (FIFTH REQUEST) GEORGE FOLEY, JR. , Magistrate Judge . Pursuant to Local Rule 26-4 and the Court's Scheduling Order, Plaintiff The Bank of New York Mellon, successor trustee to JPMorgan Chase Bank, National Association, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Stearns ALT-A Trust 2005-10, Mortgage Pass-Through Certificates, Series 2005-10 ("Trustee"), ..
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STIPULATION AND ORDER TO EXTEND DISCOVERY DEADLINES FOR THE LIMITED PURPOSE OF CONDUCTING DEPOSITIONS
(FIFTH REQUEST)
GEORGE FOLEY, JR., Magistrate Judge.
Pursuant to Local Rule 26-4 and the Court's Scheduling Order, Plaintiff The Bank of New York Mellon, successor trustee to JPMorgan Chase Bank, National Association, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Stearns ALT-A Trust 2005-10, Mortgage Pass-Through Certificates, Series 2005-10 ("Trustee"), Defendant Poshbaby L.L.C. Series 6653 Goldencreek Way ("Poshbaby"), and Defendant Smoke Ranch Maintenance District ("Smoke Ranch") by and through their respective counsel of record, hereby agree and respectfully submit this stipulation as follows:
Stipulated Amendment of Scheduling Order
1. Statement of Discovery Completed
On February 1, 2018, the Court granted the parties' fourth stipulation to extend discovery for the limited purpose of conducting depositions, which set the following relevant deadlines:
(a) Depositions Complete and Close of Discovery: April 3, 2018
(b) Dispositive Motions: May 3, 2018
(c) Pretrial Order: June 1, 2018 (suspended upon the filing of dispositive motions until 30 days after decision on any dispositive motions).
Trustee has completed the following:
1. Service of its Initial Disclosures on April 4, 201;
2. Service of written discovery to Poshbaby and Smoke Ranch on June 30, 2017;
3. Service of subpoenas to produce documents and for deposition to thirdparty Red Rock Financial Services on July 11, 2017; and
4. Service of Deposition Notices to Poshbaby and Smoke Ranch on December 6, 2017.
Poshbaby has completed the following:
1. Service of its Initial Disclosures on April 5, 2017;
2. Response to Trustee's Requests for Admission on December 13, 2017;
3. Service of Deposition Notice to Trustee on December 18, 2017;
4. Response to Trustee's written discovery on March 15, 2018.
Smoke Ranch has completed the following:
1. Service of its Initial Disclosures on September 8, 2017; and
2. Response to Trustee's written discovery on December 8, 2017.
2. Discovery that Remains to be Completed
Written discovery has been completed as of March 15, 2018, when Trustee received Poshbaby's responses to written discovery. In the event the parties cannot reach a settlement, Trustee intends to take the depositions of Poshbaby, Smoke Ranch, and other witnesses whose deposition may become necessary. Poshbaby intends to take the deposition of Trustee.
3. The Reasons Why Remaining Discovery Was Not Completed
Poshbaby and Trustee have continued to work toward a settlement in this matter, and believe a settlement is likely to resolve this case without the need to incur the significant cost of conducting depositions and resolving outstanding discovery issues in this case. The parties believe the Court's and their own resources are best put toward settlement rather than further litigation expense. Trustee also recently received, on March 15, 2018, the written discovery responses necessary to adequately prepare for and conduct a deposition of Poshbaby. Accordingly, the parties have agreed that depositions should be deferred both to allow settlement negotiations to continue without incurring the significant cost of conducting depositions and, in the event settlement is not reached, to allow the parties adequate time to notice and prepare for any depositions.
Poshbaby and Trustee have used the time allowed by the Court's prior extension of discovery to engage in productive settlement talks, but have not yet reached agreement. Poshbaby and Trustee believe that a mutually agreeable settlement is a likely outcome in this case but they require additional time to work toward settlement. Good cause exists to grant the extension, because a limited extension of discovery will preserve the parties' and the Court's resources with respect to remaining discovery issues and depositions, and will also increase the likelihood of a settlement by allowing the parties to defer or altogether avoid the cost of further discovery and litigation in favor of reaching a negotiated settlement. This request is not made for delay or for any other improper purpose.
4. Proposed Discovery Schedule
The Parties stipulate and agree to an extension of discovery for the limited purpose of conducting depositions, subject to the following proposed deadlines:
(a) Depositions Complete and Close of Discovery: Monday, July 2, 2018
(b) Dispositive Motions: Wednesday, August 1, 2018
(c) Pretrial Order: Friday, August 31, 2018 (suspended upon the filing of dispositive motions until 30 days after decision on any dispositive motions).
5. Trial
No trial date has been set in this matter.
IT IS SO ORDERED.
