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PROVIDENT FUNDING ASSOCIATES, L.P. v. LYDIAN PRIVATE BANK, CV-11-1538 JCS. (2012)

Court: District Court, N.D. California Number: infdco20121130749 Visitors: 3
Filed: Nov. 29, 2012
Latest Update: Nov. 29, 2012
Summary: STIPULATION AND ORDER DISMISSING ACTION JOSEPH C. SPERO, District Judge. On August 19, 2011, the Office of the Comptroller of the Currency closed Defendant Lydian Private Bank ("Lydian") and appointed the FDIC as Receiver pursuant to 12 U.S.C. 1464(d)(2) and 1821(c)(5). On September 14, 2011, the FDIC, as Receiver, was substituted for Lydian in this action. (ECF No. 28.) Pursuant to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 ("FIRREA"), Plaintiff was required t
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STIPULATION AND ORDER DISMISSING ACTION

JOSEPH C. SPERO, District Judge.

On August 19, 2011, the Office of the Comptroller of the Currency closed Defendant Lydian Private Bank ("Lydian") and appointed the FDIC as Receiver pursuant to 12 U.S.C. §§ 1464(d)(2) and 1821(c)(5). On September 14, 2011, the FDIC, as Receiver, was substituted for Lydian in this action. (ECF No. 28.)

Pursuant to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 ("FIRREA"), Plaintiff was required to exhaust the FIRREA administrative claims process before continuing this action against the FDIC as Receiver. On November 17, 2011 Plaintiff filed a Proof of Claim (the "Claim") with the FDIC as Receiver. On August 3, 2012 the FDIC as Receiver gave notice to Plaintiff that the Claim had been allowed in part. Based on such allowance, Plaintiff is willing to dismiss this action.

IT IS HEREBY STIPULATED AND AGREED by and between the parties hereto through their respective counsel that this action be dismissed with prejudice, with each party bearing its own attorney's fees and costs. However, such dismissal shall have no effect on the partial allowance of Plaintiff's Claim by the FDIC, as Receiver of Lydian Private Bank, dated August 3, 2012.

PURSUANT TO STIPULATION, IT IS SO ORDERED.

Source:  Leagle

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