Filed: Jan. 20, 2011
Latest Update: Jan. 20, 2011
Summary: STIPULATION AND ORDER TO CONTINUE WAVE III PRELIMINARY HEARING FROM FEBRUARY 7, 2011 TO FEBRUARY 28, 2011 JAMES WARE, Judge. WHEREAS, the Wave I and Wave II Settlements totaling $106,447,500 in the above captioned actions have been fully approved by the Court; WHEREAS, the Plaintiffs and the Trustee in the Okun Bankruptcy proceedings pending before Judge Glenn in the Southern District of New York [ In Re: The 1031 Tax Group, LLC, et al. Case No. 07-11448 (MG)] have agreed to settle with seve
Summary: STIPULATION AND ORDER TO CONTINUE WAVE III PRELIMINARY HEARING FROM FEBRUARY 7, 2011 TO FEBRUARY 28, 2011 JAMES WARE, Judge. WHEREAS, the Wave I and Wave II Settlements totaling $106,447,500 in the above captioned actions have been fully approved by the Court; WHEREAS, the Plaintiffs and the Trustee in the Okun Bankruptcy proceedings pending before Judge Glenn in the Southern District of New York [ In Re: The 1031 Tax Group, LLC, et al. Case No. 07-11448 (MG)] have agreed to settle with sever..
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STIPULATION AND ORDER TO CONTINUE WAVE III PRELIMINARY HEARING FROM FEBRUARY 7, 2011 TO FEBRUARY 28, 2011
JAMES WARE, Judge.
WHEREAS, the Wave I and Wave II Settlements totaling $106,447,500 in the above captioned actions have been fully approved by the Court;
WHEREAS, the Plaintiffs and the Trustee in the Okun Bankruptcy proceedings pending before Judge Glenn in the Southern District of New York [In Re: The 1031 Tax Group, LLC, et al. Case No. 07-11448 (MG)] have agreed to settle with several additional Defendants in Wave III, and they are: (i) Hunter II Defendant Citibank, N.A. ("Citibank"); (ii) Hunter II Defendants Kutak Rock LLP and Joseph O. Kavan (the "Kutak Defendants"); (iii) Hunter II Defendants Foley & Lardner, LLP and Steven Burr (the "Foley Defendants"); (iv) Hunter II Defendants Roy S. MacDowell, Jr. and the Boulder Entity Defendants (collectively the "Boulder Defendants"); and, (v) Hunter II Defendant Jorden Burt, LLP and Hunter I Defendant Richard Simring ("Jorden Burt" and "Simring").
WHEREAS, the Wave III Preliminary Approval hearing is presently scheduled for February 7, 2011 and the Court has ordered the Wave III Preliminary Approval motion to be filed by this Friday, January 21, 2011;
WHEREAS, the Plaintiffs and the Trustee, on the one hand, and certain Wave III settling Defendants, on the other hand, are working to finalize and execute their settlement documentation as expeditiously as practicable, but that process may not be completed by February 7, 2011;
WHEREAS, the Wave III settling parties agree that continuing the Wave III Preliminary Approval hearing by three weeks will allow the settlement documentation to be completed;
WHEREAS, Plaintiffs' counsel has been informed by the Court staff that the hearing could occur on February 28, 2011;
NOW THEREFORE, based on the foregoing, the Wave III Settling Parties, and their undersigned Counsel hereby AGREE and STIPULATE that the Wave III Preliminary Approval hearing presently scheduled for February 7, 2011, should be continued to February 28, 2011, and, that the Wave 111 Preliminary Approval Motion should be filed on February 15, 2011.
IT IS SO STIPULATED.
IT IS SO ORDERED.
