Filed: Nov. 18, 2016
Latest Update: Nov. 18, 2016
Summary: JOINT MOTION AND STIPULATION FOR ELEVEN-DAY STAY OF FILING DEADLINES AND ADJUDICATION OF POST-JUDGMENT MOTIONS (Third Request) CAM FERENBACH , Magistrate Judge . The Federal Trade Commission ("FTC") and Defendants Scott Tucker, AMG Capital Management, LLC, Level 5 Motorsports, LLC, Black Creek Capital Corporation, and Broadmoor Capital Partners (collectively, "Tucker Defendants") request that the Court stay all deadlines and the adjudication of pending post-judgment motions for an additiona
Summary: JOINT MOTION AND STIPULATION FOR ELEVEN-DAY STAY OF FILING DEADLINES AND ADJUDICATION OF POST-JUDGMENT MOTIONS (Third Request) CAM FERENBACH , Magistrate Judge . The Federal Trade Commission ("FTC") and Defendants Scott Tucker, AMG Capital Management, LLC, Level 5 Motorsports, LLC, Black Creek Capital Corporation, and Broadmoor Capital Partners (collectively, "Tucker Defendants") request that the Court stay all deadlines and the adjudication of pending post-judgment motions for an additional..
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JOINT MOTION AND STIPULATION FOR ELEVEN-DAY STAY OF FILING DEADLINES AND ADJUDICATION OF POST-JUDGMENT MOTIONS (Third Request)
CAM FERENBACH, Magistrate Judge.
The Federal Trade Commission ("FTC") and Defendants Scott Tucker, AMG Capital Management, LLC, Level 5 Motorsports, LLC, Black Creek Capital Corporation, and Broadmoor Capital Partners (collectively, "Tucker Defendants") request that the Court stay all deadlines and the adjudication of pending post-judgment motions for an additional eleven days (until November 28, 2016). The FTC and Tucker Defendants are currently engaged in negotiations to attempt to resolve the pending Motion for Order Directing Turnover of Assets (ECF No. 1059, "Turnover Motion"), the Motion for Appointment of a Receiver (ECF No. 1064 (filed under seal), "Receiver Motion"), and the oppositions filed thereto. In order to facilitate and possibly conclude those discussions, the parties request that the Court not rule on the Turnover Motion or the Receiver Motion before November 29, 2016. Similarly, the parties request that the Court extend the deadline for the FTC to file its reply brief to the Receiver Motion to November 28, 2016. This is the third stipulation for an extension regarding the Turnover Motion and Receiver Motion.
The FTC and Tucker Defendants respectfully request that the Court temporarily stay existing deadlines and the adjudication of the Turnover Motion and Receiver Motion as follows:
1. On September 30, 2016, this Court entered an Order granting the FTC's summary judgment motion on Phase 2, and entered judgment against the Tucker Defendants and the Relief Defendants. Order (ECF No. 1057).
2. To facilitate post-judgment collection and enforcement of the Court's Order, the FTC filed the Turnover Motion on October 3 and the Receiver Motion on October 13. The Tucker Defendants have opposed each motion. See generally, Tucker Defendants' Response in Opposition to FTC's Motion for Order Directing Turnover of Assets (ECF No. 1061); Tucker Defendants' Opposition to Motion for Appointment of a Receiver (ECF No. 1071). Presently, only one filing deadline (November 17) remains — for the FTC's reply in support of its Receiver Motion.
3. Good cause exists to stay deadlines and adjudication. The FTC and Tucker Defendants are presently discussing possible compromises to resolve the pending Turnover Motion and Receiver Motion. If these negotiations are successful, the parties intend to submit a joint proposed order that would resolve both motions. However, a Court ruling in the midst of the parties' discussions could adversely affect the parties' negotiations. Similarly, the pending filing deadline diverts the FTC's resources away from the ongoing negotiations. Finally, a temporary stay permits the Court to conserve its scarce resources and promotes judicial economy. Thus, cause exists for a temporary stay that permits the Court to preserve its resources while the parties attempt to reach a consensual resolution.
4. The FTC and Tucker Defendants jointly request that the following deadlines govern the Turnover Motion and the Receiver Motion:
a. The deadline for the FTC to file its reply in support of its Motion for Appointment of a Receiver (ECF No. 1064 (filed under seal)) is extended to November 28, 2016;
b. Adjudication of the Motion for Appointment of a Receiver (ECF No. 1064) and the Motion for Order Directing Turnover of Assets (ECF No. 1059) is stayed until November 29, 2016; and
c. The temporary stay of deadlines and adjudication is without prejudice to further requests to extend pending deadlines and adjudication of the post-judgment motions.
If this Stipulation is accepted by the Court, the previous deadlines for the FTC's reply brief (ECF Nos. 1068, 1079, and 1083) are rendered moot.
IT IS SO ORDERED.
