Filed: Dec. 10, 2019
Latest Update: Dec. 10, 2019
Summary: STIPULATION FOR DISMISSAL OF DITECH FINANCIAL LLC, WITH PREJUDICE AND ORDER JOHN A. MENDEZ , District Judge . TO THE COURT, ALL PARTIES, AND THEIR ATTORNEYS OF RECORD: WHEREAS, Plaintiffs OKHARINA HOLMES and SONIA T. KELLMAN ("Plaintiffs"), on the one hand and Defendant DITECH FINANCIAL LLC ("Ditech" or "Defendant") on the other hand, having discussed the impact of Ditech's Bankruptcy Case and confirmation of the Plan (as discussed below) upon the causes of action asserted in the Complai
Summary: STIPULATION FOR DISMISSAL OF DITECH FINANCIAL LLC, WITH PREJUDICE AND ORDER JOHN A. MENDEZ , District Judge . TO THE COURT, ALL PARTIES, AND THEIR ATTORNEYS OF RECORD: WHEREAS, Plaintiffs OKHARINA HOLMES and SONIA T. KELLMAN ("Plaintiffs"), on the one hand and Defendant DITECH FINANCIAL LLC ("Ditech" or "Defendant") on the other hand, having discussed the impact of Ditech's Bankruptcy Case and confirmation of the Plan (as discussed below) upon the causes of action asserted in the Complain..
More
STIPULATION FOR DISMISSAL OF DITECH FINANCIAL LLC, WITH PREJUDICE AND ORDER
JOHN A. MENDEZ, District Judge.
TO THE COURT, ALL PARTIES, AND THEIR ATTORNEYS OF RECORD:
WHEREAS, Plaintiffs OKHARINA HOLMES and SONIA T. KELLMAN ("Plaintiffs"), on the one hand and Defendant DITECH FINANCIAL LLC ("Ditech" or "Defendant") on the other hand, having discussed the impact of Ditech's Bankruptcy Case and confirmation of the Plan (as discussed below) upon the causes of action asserted in the Complaint ("Action"), and agreeing that the same necessitates the dismissal of this Action, with prejudice; and
WHEREAS, on February 11, 2019, (the "Commencement Date"), Ditech Holding Corporation (f/k/a Walter Investment Management Corp.) and its debtor affiliates, as debtors and debtors in possession (collectively, the "Debtors"), each commenced a voluntary case (the "Chapter 11 Cases") under chapter 11 of title 11 of the United States Code (11 U.S.C. § 101 et seq.) (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court"). The Chapter 11 Cases are being jointly administered under Case No. 19-10412 (JLG).
WHEREAS, on September 26, 2019, the Bankruptcy Court entered the Order Confirming Third Amended Joint Chapter 11 Plan of Ditech Holding Corporation and Its Affiliated Debtors (ECF No. 1404) approving the terms of the Third Amended Joint Chapter 11 Plan of Ditech Holding Corporation and Its Affiliated Debtors (ECF No. 1326) (the "Plan"). The Plan incorporates the sale of Ditech Financial LLC's ("Ditech") reverse and forward businesses to separate buyers (the "Buyers").
WHEREAS, the Plan contains a permanent injunction (the "Injunction") that specifically prohibits parties from prosecuting against Ditech any claim for monetary recovery (including attorney's fees) on account of any claim arising prior to September 30, 2019 (the Plan Effective Date and closing date for the transactions under the Plan).
NOW, THEREFORE, IT IS HEREBY STIPULATED by and between Plaintiffs and Ditech that:
1. The Action (Complaint) shall forthwith be dismissed with prejudice as to Ditech; and
2. Each Party shall bear their own attorney's fees and costs.
DATED: 12/10/2019 WOLFE & WYMAN LLP
By: /s/ _____________________________
STUART B. WOLFE
JONATHAN C. CAHILL
Attorneys for Defendant
DITECH FINANCIAL LLC
DATED: 11/29/2019 LAW OFFICES OF DENNIS RASMUSSEN
By: /s/ _____________________________
DENNIS RASMUSSEN
Attorney for Plaintiffs
OKHARINA HOLMES and SONIA
KELLMAN
GOOD CAUSE APPEARING, IT IS ORDERED that this Action is hereby dismissed with prejudice as against Defendant DITECH FINANCIAL LLC.
IT IS SO ORDERED.
