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BRANCH BANKING AND TRUST COMPANY v. ESTATE OF RAD, 2:14-cv-01947-APG-PAL. (2017)

Court: District Court, D. Nevada Number: infdco20170517e38 Visitors: 4
Filed: May 16, 2017
Latest Update: May 16, 2017
Summary: ORDER CHARGING JUDGMENT DEBTOR PHILLIP NOURAFCHAN'S MEMBERSHIP INTEREST IN RPN LLC AND JUDGMENT DEBTOR THE ESTATE OF SAIID FOROUZAN RAD AND AKBAR RAGSTOO DAMAVANDI'S STOCK IN FOROUZAN, INC. ANDREW P. GORDON , District Judge . On April 26, 2017, Branch Banking and TrustApril 28, 2017, Company ("BB&T") filed its motion (the "Motion") for an order charging the membership interest of Defendant/Judgment Debtor Phillip Nourafchan ("Nourafchan") in RPN LLC, a Nevada limited liability company ("RPN
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ORDER CHARGING JUDGMENT DEBTOR PHILLIP NOURAFCHAN'S MEMBERSHIP INTEREST IN RPN LLC AND JUDGMENT DEBTOR THE ESTATE OF SAIID FOROUZAN RAD AND AKBAR RAGSTOO DAMAVANDI'S STOCK IN FOROUZAN, INC.

On April 26, 2017, Branch Banking and TrustApril 28, 2017, Company ("BB&T") filed its motion (the "Motion") for an order charging the membership interest of Defendant/Judgment Debtor Phillip Nourafchan ("Nourafchan") in RPN LLC, a Nevada limited liability company ("RPN"), and Defendant/Judgment Debtor The Estate of Saiid Forouzan Rad and Akbar Ragstoo Damavandi's, Special Administrator (the "Estate") (together with Nourafchan, the "Judgment Debtors"), stock in Forouzan Inc., a Nevada corporation ("Forouzan"), with payment of the unsatisfied judgment against Nourafchan and the Estate that was entered in this action. This Court, having been fully advised in the premises and good cause appearing, hereby orders as follows.

1. A charging order is hereby entered in favor of BB&T and shall be enforced in accordance with NRS 86.401 against the limited liability company interest of Nourafchan in RPN.

2. A charging order is hereby entered in favor of BB&T and shall be enforced in accordance with NRS 78.746(1) against the stock of the Estate in Forouzan.

3. The charging order shall constitute a lien on the Judgment Debtors' ownership interests in RPN and Forouzan upon entry of this order.

4. Any distribution on account of Nourafchan's limited liability company interest in RPN shall be paid over to BB&T or its attorneys until such time as Nourafchan has satisfied all of his payment obligations to BB&T pursuant to the judgment entered herein. See ECF No. 52.

5. Any distribution on account of the Estate's stock in Forouzan shall be paid over to BB&T or its attorneys until such time as the Estate has satisfied all of his payment obligations to BB&T pursuant to the judgment entered herein. Id.

IT IS SO ORDERED.

Source:  Leagle

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